Total housing starts in Japan were 70,912 units in February, down 7.3 per cent compared to last month and down by 2.6 per cent compared to February 2016, according to Japan Lumber Reports Friday.
New rental units increased for ten consecutive months but new units for sale dropped sharply after a decline in condominium building.
Starts of wood-based units were 39,000 units were also dropping. For full year 2016, starts of wood-based buildings were 546,336.
Housing Starts, Japan
New starts in Japan of units built for owners in February increased, to almost match level in January and February last year said Japan Lumber Reports Friday.
Regionally, Tokyo owner’s units have been decreasing for the past four straight months. In Osaka region they have been increasing for over a year.
In all other regions new starts of owner’s units have been increasing for five months
New starts of rental units have increased compared to the previous month for sixteen straight months.