Japan’s housing starts in fiscal 2013 rose 10.6% to 987,254 from a year earlier showing the four year consecutive increase, the land ministry announced April 30. After a sharp drop due to the global financial crisis, gradually recovering Japanese economy stimulates consumers’ eagerness to buy houses as well as a surge in demand before the consumption tax hike contributed the increase.
While owned, rented and built-for-sale houses all recorded increase, construction starts of apartments leveled off. In Tokyo metropolitan region, the number drops 6.4%, which partly stems from decrease in land transaction among medium and small developers in the area, a ministry official said. (2014/05/01)