Japan’s housing starts in May were 78,728 units (up 9.8 per cent from the same month in the previous year), surpassing the previous year’s results for five consecutive months, according to Japan Lumber Journal Thursday.
Housing Starts, Japan
Compared with the previous month, Japan housing starts decreased by 4.5 per cent due to Golden Week Holidays, but the seasonally-adjusted annual rate was 1,017,000 units (up 2.3 per cent from the previous month), exceeding 1,000,000 units for the rst time since last June, said Japan Lumber Journal.
The results of May by owner/occupant, housing starts of owner-occupied houses were 23,501 units (up 4.3 per cent from the same month of the previous year), showing slow growth rate. Those of built-for-sale houses were 22,213 units (up 7.9 per cent). Of the built-for-sale houses, condominiums were 11,236 units (down 0.8 per cent), decreasing for the first time in four months.
In contrast, single-family houses were 10,796 units (up 18 per cent), increasing significantly from 9,148 units in the same month of the previous year, which showed a low level. Hous–ing starts of rental houses were 32,427 units (up 15 per cent), showing an in– crease for seven months in a row.