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The Ministry of Land, Infrastructure, Transport and Tourism announced on the 30th April that it has released the Real Estate Price Index for January 2024, calculated with an average of 100 for the year 2010. The Housing Comprehensive Index for the same month (seasonally adjusted) was 138.8 (an increase of 1.3% from the previous month). By property type, residential land was 115.2 (an increase of 0.3% from the previous month), detached houses were 118.2 (unchanged), and condominiums were 197.9 (an increase of 0.9%).
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Looking at the metropolitan areas, the Greater Tokyo Area had a housing comprehensive index of 150.1 (an increase of 1.9%), residential land was 128.5 (an increase of 0.6%), detached houses were 122.2 (a decrease of 1.2%), and condominiums were 194.7 (an increase of 2.4%). The Nagoya area had a housing comprehensive index of 117.1 (an increase of 0.2%), residential land was 100.0 (a decrease of 1.2%), detached houses were 112.2 (an increase of 0.9%), and condominiums were 182.3 (an increase of 0.3%). The Osaka-Kobe-Kyoto area had a housing comprehensive index of 141.3 (a decrease of 0.9%), residential land was 121.9 (a decrease of 3.3%), detached houses were 118.8 (a decrease of 1.9%), and condominiums were 196.1 (an increase of 0.6%).
- In Tokyo, the housing comprehensive index was 161.1 (an increase of 3.8%), residential land was 132.1 (a decrease of 3.0%), detached houses were 128.5 (a decrease of 1.7%), and condominiums were 200.8 (an increase of 7.6%).
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Additionally, the Real Estate Price Index for commercial real estate for the fourth quarter of 2023 (seasonally adjusted) was also disclosed. The comprehensive index for commercial real estate was 140.8 (an increase of 2.0% from the previous period). By property type, stores were 151.3 (a decrease of 0.9%), offices were 169.9 (an increase of 3.2%), and condominiums/apartments (one building) were 165.2 (an increase of 4.5%).
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Written by Tsuyoshi Hikichi