Double-income households supporting property prices
According to the NLI Research Institute, the number of households in Japan with a total annual income of over 7 million Yen (approx. 62,000 USD) reached 250,000 in 2016, an increase of 20% since 2013.
While wage growth remains sluggish, the growing number of women entering the workforce has pushed up household incomes. The White Paper on the Labor Economy issued by the Health, Labor and Welfare Ministry reported that Japan’s female labor force in 2016 grew by 400,000 over 12 months, far exceeding the 90,000 growth in the male labor force over the same period.Read more