The Real Estate Price Index shows a 0.9% increase in housing overall compared to the previous month.

On the 29th, the Ministry of Land, Infrastructure, Transport, and Tourism released the Real Estate Price Index for December 2023, calculated with the average of 100 for the year 2010.

The Housing Composite Index (seasonally adjusted) for the same month was 137.1 (a 0.9% increase from the previous month). Broken down by property type, residential land was at 114.6 (a 0.1% decrease), detached houses at 118.5 (a 2.0% increase), and condominiums at 196.2 (a 1.2% increase/decrease).

In terms of metropolitan areas, the Greater Tokyo Area had a Housing Composite Index of 148.2 (a 1.7% increase), with residential land at 128.3 (a 1.3% decrease), detached houses at 125.5 (a 4.7% increase), and condominiums at 190.8 (a 1.7% increase). The Nagoya Area had a Housing Composite Index of 116.4 (a 0.8% decrease), with residential land at 99.8 (a 0.8% decrease), detached houses at 110.0 (a 1.3% increase), and condominiums at 185.0 (a 1.0% increase). The Osaka-Kobe-Kyoto Area had a Housing Composite Index of 142.0 (a 1.7% decrease), with residential land at 123.2 (a 1.1% decrease), detached houses at 121.4 (a 2.4% decrease), and condominiums at 193.5 (a 0.4% decrease).

In Tokyo, the Housing Composite Index was 160.8 (a 1.2% increase), with residential land at 137.2 (a 0.1% decrease), detached houses at 134.2 (a 4.1% increase), and condominiums at 194.8 (a 2.6% increase).

Additionally, the Real Estate Price Index (seasonally adjusted) for commercial properties in the fourth quarter of the same year was also announced. The Commercial Real Estate Composite Index was 140.7 (a 1.9% increase from the previous period). Broken down by property type, stores were at 149.2 (a 1.9% decrease), offices at 169.4 (a 3.0% increase), and apartments/condominiums (single buildings) at 164.3 (a 4.1% increase).

Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”

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