On May 31st, the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) released updated housing start statistics for April 2024.
The number of new housing starts in April was 76,583 units, a 13.9% increase compared to the same month last year, marking the first year-on-year (YoY) rise in 11 months.
The total floor area of new residential starts was 5.766 million square meters, a 9.1% increase and the first YoY rise in 15 months.
By property type, custom-built single-family homes (SFH) decreased by 3.9% YoY to 17,878 units, continuing a 29-month decline.
Rental housing increased by 20.6% YoY to 34,598 units, rebounding from the previous month’s decrease.
Strata title SFH and condo starts increased by 16.5% YoY to 22,955 units, the first rise in four months.
Within this category, strata title condo starts increased by 69.0% to 12,226 units, marking a four-month high, while strata title SFH starts decreased by 14.4% to 10,579 units, extending an 18-month decline.
In the three major metropolitan areas, the Greater Tokyo Area saw a total of 26,747 units, a 11.7% YoY increase.
The Greater Nagoya (Chubu) region had a total of 8,393 units, an 11.1% YoY increase.
The Greater Osaka (Kinki) region recorded a total of 13,656 units, a 31.8% YoY increase.
Source:
R.E. Port News (Japanese only)
