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Nationwide supply of new condos in 2019 hits 43-year low

The total number of brand-new condos supplied for sale across Japan in 2019 reached the lowest level since 1976. Supply dropped by 12.0% from the previous year to 70,660 units. The greater Tokyo region saw a 15.9% drop, while the Kinki region (which includes Osaka) saw a 13.9% drop. In 1994, annual supply peaked at 188,343 units.

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International dispute sees Nagasaki property sit idle for a century

In Nagasaki’s former foreign settlement sits an overgrown lot filled with as many as 30 buildings, many of them abandoned and falling down. While vacant ‘akiya’ properties are not an unusual sight, this particular one is part of an ongoing international dispute between Russia and Ukraine over former Soviet property.

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Remaining apartment inventory in central Tokyo drops for 2nd month in a row

According to REINS, a total of 2,680 second-hand apartments were reported to have sold across greater Tokyo in January 2020, up 0.5% from last year. The average sale price was 36,720,000 Yen, up 11.5% from last year. The average price per square meter was 562,900 Yen, up 9.4% from last year. This is the 12th month in a row to record a year-on-year increase in sale prices.

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New housing starts drop 4% in 2019

New housing starts across Japan in 2019 dropped 4.0% from the previous year to 905,123 units. This is the third year in a row to see a year-on-year decline. This was primarily due to a tightening on lending for investment-type apartment blocks after a widespread loan fraud scandal came to light in 2018. 

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