Number of new housing starts Decrease in rental housing decreased for the third consecutive year from the previous year Jan. 20:55 on January 31
The number of houses started nationwide in the last year has decreased by 4% compared to the previous year, and has decreased for the third consecutive year due to a decrease in housing starts such as apartments.
According to the Ministry of Land, Infrastructure, Transport and Tourism, the number of homes started nationwide last year was 905,123, down 4% from the previous year.
It is the third consecutive year that housing starts have fallen below the previous year.
Looking at the breakdown, the number of “owned homes” indicating custom-built homes was 288,878 units, an increase of 1.9% from the previous year, and “condominiums” indicating condominiums and built-for-sale homes increased 4.9%, to 267,696 units.
On the other hand, there were 342,289 rental apartments, which indicate rental housing such as apartments, down 13.7% from the previous year.
In response to this, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) stated that the move to build rental housing, which had been active for a period of time as a measure to save the inheritance tax, was settled down, and that the surrendered to the Suruga Bank after unlawful financing for investment real estate became apparent. He said financial institutions are being cautious about lending to apartment construction.
On the other hand, the Ministry of Land, Infrastructure, Transport and Tourism said that the increase in the consumption tax rate in October last year had no significant effect on the housing market after housing tax hike compared to the previous tax hike. I'm not sure.