Japan’s Ministry of Land, Infrastructure and Transport disclosed Japan housing total starts at 85,208 units, and 8.9 per cent increase over one year ago and a 0.1 per cent drop from June, said the Japan Lumber Reports Friday.
Japan Housing Starts: July 2016
Japan’s housing starts have been above 85,000 units for two months in a row, as well seasonally-adjusted annual starts have been over one million since May.
Fastest advancements were made in rental units, which have been increasing for three months straight. Rental starts were over 37,000 units for the first time since December 2008.
Starts of detached units built for sale increased for nine months in a row.
The increase of inheritance tax since January 2015, in addition to record-low mortgage interest rates stimulated construction starts of rental units by land owners, said the Reports.