Japan’s housing starts in December 2014 were 76,416 units, down 14.7 per cent from the same month in the previous year, according to Japan Lumber Journal Monday.
Total housing starts in Japan for 2014 were 892,261 units, down 9 per cent over one year ago. It was the first drop in five years but level with 883,000 units in 2012.
Housing Starts, Japan
Japan housing starts of owner-occupied houses were 285,270 units, down 19.6 per cent, falling for the first time in five years, said the Japan Lumber Journal. Homes built-for-sale houses were down 10 per cent, condominiums decreased 13.4 per cent, and single-family houses fell 7 per cent. On the other hand, housing starts of rental houses were 362,191 units, up 1.7 per cent, increasing for three consecutive years mainly due to the effect of inheritance tax rise.
Housing starts of wooden houses were 489,463 units, down 11 per cent, and those of non-wooden houses were 402,798 units, down 6.3 per cent. The ratio of wooden houses by the number of units decreased to 54.9 per cent due to the decrease in owner-occupied houses.