New apartment starts in 2017 reach lowest level in 7 years
Apartment starts in the greater Tokyo area in 2017 reached the lowest level seen in seven years. According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), apartment starts were 57,591 units, down 12% from 2016. The Ministry cites an early rush by developers to get large-scale projects off the ground in the lead up to the 2020 Olympics and difficulty in securing sites for residential developments as the two contributors to a recent slow down in residential construction.Read more