Table of Contents. (1). Listing volume 1. REINS registered properties P4 2. REINS inventory P4

Transcription

1

2 ## April Table of Contents 1. Housing market P3 (1). Listing volume 1. REINS registered properties P4 2. REINS inventory P4 (2). Contracts concluded 1. REINS contracts concluded P5 2. Registered transfer of titles due to purchase and sale P5 (3). Price trends 1. REINS contract unit price, Unit price per sqm P6 2. Officially published land prices P7 3. JREI home price indices P8 4. Property price indices P9 (4). New home market 1. Condominiums for sale in Greater Tokyo area P1 2. Contract conclusion rate and inventory of condominiums in Greater Tokyo area P1 3. Average price of condominiums in Greater Tokyo area P11 4. New home construction starts P11 (5). Mortgage interest rates P12 2. Office building and new construction markets P13 (1). Office leasing 1. Vacancy rates of office buildings in central 5 wards of Tokyo P14 2. Rents of office buildings in central 5wards of Tokyo P14 (2). Construction 1. Value of construction orders received P15 2. Construction materials price index, Construction cost deflator P15 (3). Investment 1. TSE REIT index P16 List of sources P17 P2

3 Mortgage interest rates New home market Price trends Contracts concluded Listing volume Trend Monthly 1. Housing market Summary As of Results, Month-on-month REINS information content Registered properties March 25,955 Unsold inventory March 74,94 REINS contracts concluded Condominiums March 3,719 Registered transfer of titles due to purchase and sale (Nationwide) Land/Detached Houses March 1,9 Total (units) March 5,619 February 46,817 REINS average contract price Condominiums (1, yen) March 3,145 Month-on-month Detached houses (1, yen) March 3,63 Month-on-month Land (1, yen) March 2,859 Month-on-month REINS contracts concluded Condominiums (1, yen/sqm) March 49.3 Month-on-month Unit price sqm Land (1, yen/sqm) March 19.7 Month-on-month JREI home price indices * (December 1, 2 = 1)(Greater Tokyo area) Property price indices(residential) (21 average = 1)(Nationwide) January December 88.1 Month-on-month 128. Month-on-month.4%.% 3.59% 4.74% 3.98%.75%.22%.65% 4.73%.2% 4.46%.59% 1.27% Officially published land prices Residential land January, % Commercial land January, % New home construction starts Nationwide (dwellings) February 7,912 Condominiums in Greater Tokyo area Condominiums supplied (units) March 3,48 Bank variable interest rate (%) (Sumitomo Mitsui Banking Corporation) Bank (1-year) fixed rate (%) (Sumitomo Mitsui Banking Corporation) JHFA standard interest rate(%) * Long-term prime rate (%) Official discount rate (%) Contract conclusion rate March 66.2% Inventory (units) March 6,749 Month-on-month Unsold inventory after completion (units) March 3,32 Month-on-month Average price (1, yen) March 5,588 Month-on-month Average sqm unit price (1, yen/sqm) March 79. Month-on-month as of April 1 as of April 1 as of April 1 as of April 1 as of December 19, % Month-on-month 3.25% Month-on-month 1.29% Month-on-month.95% Month-on-month.3% Month-on-month 2.63% 26.55% 1.4pt 2.35% 13.43% 3.54% 7.28%.pt.25pt.6pt.pt.pt * Minus 1% or lower Higher than minus 1% to under 1% 1% or higher Minus.1pt or lower Higher than minus.1pt to under.1pt.1pt or higher * JREI:Japan Real Estate Institute * JHFA:Japan Housing Finance Agency P3

4 (1). Listing volume; 1. REINS registered properties (Unit: units) (Unit: %) Registered properties(lhs) (RHS) 3, 25, 25,414 25,858 25,955 15% 1% 2, 5% 15, % 1, 5% 5, 1% % *Sales of new homes and condo. s are excluded. *Land: Sales of land within a range of 1 to 2 sqm are counted. (1). Listing volume; 2. REINS inventory (Unit: units) (Unit: %) Unsold properties(lhs) (RHS) 9, 2% 8, 7, 6, 68,37 74,59 74,94 1% 5, 4, % 3, 2, 1% 1, % *Sales of new homes and condo. s are excluded. *Land: Sales of land within a range of 1 to 2 sqm are counted. P4

5 (2). Contracts concluded; 1. REINS contracts concluded (Unit: units) (Unit: %) 6, Condominiums Year-on year /Condominiums Year-on year/total 1,814 Land and detached houses /Land and detached houses 4% 5, 4, 1,692 1,9 3% 2% 3, 1% 2, % 1, 3,728 3,59 3,719 1% % *Sales of new homes and condo. s are excluded. *Land: Sales of land within a range of 1 to 2 sqm are counted. (2). Contracts concluded; 2.Registered transfer of titles due to purchase and sale (Nationwide) (Unit: units) (Unit: %) Registered transfer of title(lhs) (RHS) 7, 2% 6, 5, 4, 3, 42,226 46,468 46,817 15% 1% 5% 2, % 1, 5% % P5

6 (3). Price trends; 1. REINS contract unit price, Unit price per sqm (Unit: 1, yen) (Unit: 1, yen/sqm) 1Contract price (detached houses)(lhs) 2Contract price (condominiums)(lhs) 3Contract price (land)(lhs) Unit price/sqm (condominiums)(rhs) 4,5 Unit price/sqm (land)(rhs) 55 4, ,5 13,63 23,56 23, , 35 2,5 2, 1,5 22,923 13,27 13,63 32,784 32,941 32, *Sales of new homes and condo. s are excluded. *Land: Sales of land within a range of 1 to 2 sqm are counted. P6

7 (3). Price trends; 2. Officially published land prices (Greater Tokyo area) (Unit: %) Residential land Commercial land *Officially published land prices are the prices of standardized values published late March annually by the Land Appraisal Committee of the Ministry of Land, Infrastructure, Transport and Tourism in accordance with the Public Notice of Land Prices Act. The Land Appraisal Committee determines and publishes normal prices based on appraisals by real estate appraisers and others of benchmark locations selected across the nation as of January 1 each year. Changes over the last five years. 4 2 Residential land Commercial land Jan. '13 Jan. '14 Jan. '15 Jan. '16 Jan. '17 P7

8 (3). Price trends; 3. JREI home price indices (January 2 = 1) Greater Total Tokyo /4 1997/4 1999/4 21/4 23/4 25/4 27/4 29/4 211/4 213/4 215/4 Total:Average of Greater Tokyo area(tokyo Kanagawa Chiba Saitama) Changes over the last two years. (January 2 = 1) Greater Total Tokyo Tokyo Greater Total Total:Average of Greater Tokyo area(tokyo Kanagawa Chiba Saitama) P8

9 (3). Price trends; 4. Real estate price index(mansion)(south Kanto area Nagoya Kyoto-Osaka-Kobe area) 14. South Kanto area Nagoya area Kyoto-Osaka-Kobe area (21 average = 1) *Real estate prices indexed monthly, classified nationally, by block and by metropolitan area based on price data of almost 3, dwelling and condominium transactions conducted over 12 months. South Kanto area:tokyo Kanagawa Chiba Saitama Nagoya:Aichi Gifu Mie Kyoto-Osaka-Kobe area:osaka Hyogo Kyoto (3). Price trends; 4. Real estate price index(mansion)(hokkaido Tohoku Chugoku Kyushu) (21 average = 1) Hokkaido area Tohoku area Chugoku area Kyushu-Okinawa area *Real estate prices indexed monthly, classified nationally, by block and by metropolitan area based on price data of almost 3, dwelling and condominium transactions conducted over 12 months. P9

10 (4). New home market; 1. Condominium sales in Greater Tokyo area (Unit: units) 1, 9, 8, 7, 6, 5, 4, 3, 4,457 3,48 2, 1, 2, (4). New home market; 2. Contract conclusion rate and inventory of condominiums in Greater Tokyo area (Unit: units) (Unit: %) Total inventory(lhs) Unsold inventory after completion(lhs) Contract conclusion rate (RHS) 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, 79.6% 67.6% 66.2% 6,39 6,749 5,218 3,168 3,32 2, % 9% 8% 7% 6% 5% 4% 3% 2% 1% % P1

11 (4). New home market; 3. Average price of condominiums in Greater Tokyo area (Unit: 1, yen) (Unit: 1, yen/sqm) Average price(lhs) Unit price/sqm(rhs) 7, 11 6,5 6, 5,5 5, 4,5 4, 5, ,638 5, ,5 5 3, (4). New home market; 4. Transition of new housing construction work starting(countrywide Tokyo area) (Unit: units) Countrywide Tokyo area 1, 9, 8, 7, 6, 67,552 72,831 7,912 5, 4, 3, 2, 1, 27,114 26,811 25, P11

12 (5). Mortgage interest rates (Unit: %) Bank/1 year fixed 2JHFA 3Bank/Variable 4Long-term prime rate 5Official discount rate *Bank interest rates:those by Sumitomo Mitsui Banking Corporation are shown here. as of April 1, 217 *Rate as of 1st of each month FY215 FY216 FY217 P12

13 Investment Construction Leasing Trend Monthly 2. Office building and new construction markets Office building, new construction markets Summary Month, year Results, Month-on-month Vacancy rate in central 5 wards of Tokyo New buildings (%) March 19.5% Month-on-month Existing buildings (%) March 3.3% Month-on-month Overall average (%) March 3.6% Month-on-month Average rent New buildings (yen/3.31sqm) March 28,357 Value of construction orders received (million yen) Construction Materials Price Index (FY21 = 1) Construction Cost Deflator(FY25 = 1) Existing buildings (yen/3.31sqm) March 18,52 Overall average (yen/3.31sqm) March 18,73 February 1,46,773 March January 12.2 Month-on-month 18.2 Month-on-month.23pt.6pt.1pt 2.69% 4.35% 4.21% 5.67%.59% 1.9% TSE REIT Index March 1,776 Month-on-month 2.26% * Minus 1% or lower Higher than minus 1% to under 1% 1% or higher Minus.1pt or lower Higher than minus.1pt to under.1pt.1pt or higher P13

14 (1). Office leasing; 1. Vacancy rate in central 5 wards of Tokyo (Unit: %) Vacancy rate/new buildings (%) Vacancy rate/existing buildings (%) Vacancy rate/average (%) 45% 4% 35% 3% 3.4% 29.4% 25% 2% 19.5% 15% 1% 5% % 5.3% 4.3% 3.6% 4.7% 3.8% 3.3% *Survey subject: Large rental office buildings with standard floor space exceeding 331sqm in Tokyo business district (Chiyoda ward, Chuo ward, Minato ward, Shinjuku ward, and Shibuya ward) *New buildings: Buildings completed less than one year ago. (1). Office leasing; 2.Rents in central 5 wards of Tokyo (Unit: yen/3.31sqm per month) 35, Average rent/new buildings Average rent/existing buildings Average rent/average (yen/3.31sqm) 3, 25, 2, 26,16 29,142 28,357 17,195 17,973 18,73 15, 1, 5, 16,944 17,73 18, *Survey subject: Same as above. *New buildings:same as above. P14

15 (2). Construction; 1. Value of construction orders received (Unit: million yen) (Unit: %) 2,5, Construction orders received(lhs) (RHS) 11% 2,, 9% 7% 1,5, 1,, 1,13,574 99,637 1,46,773 5% 3% 1% 5, 1% 3% % *Value of construction orders received: Total value of orders received by Japan's 5 largest construction companies. Both private sector construction and public works projects by national and local governments are included. (2). Construction; 2. Construction Materials Price Index, Construction Cost Deflator (Construction Materials Price Index: FY21 average = 1) (Construction Cost Deflator: FY25 average = 1) Construction Materials Price Index (Tokyo) Construction Cost Deflator *Construction Cost Deflator: An index prepared by the Ministry of Land, Infrastructure, Transport and Tourism to convert nominal construction cost into real construction cost. This is also used as a construction cost index. P15

16 (3). Investment; 1. TSE REIT Index (reference data: Topix, Nikkei Stock Price Average) (TSE REIT Index: End of March 23 = 1,; Topix: Jan. 4, 1968 = 1) (Nikkei Stock Price Average values: yen) TSE REIT Index Topix Nikkei Stock Price Average 2,1 1,9 1,865 1,896 1,776 23, 21, 1,7 19, 1,5 1,3 1,1 9 17, 15, 13, 11, 9, 7 7, , P16

17 List of sources REINS registered properties, Stocks, Contracts concluded, Average contract price : "Market Watch" by Real Estate Information Network for East Japan Registered transfer of titles due to purchase and sale : Registration Statistics by Ministry of Justice Officially published land prices : Land General Information Library by Ministry of Land, Infrastructure, Transport and Tourism Property Price Index (Residential) : Land General Information Library by Ministry of Land, Infrastructure, Transport and Tourism JREI Home Price Index : Japan Real Estate Institute Mortgage interest rates : Various financial institutions. Sumitomo Mitsui Banking Corporation for Bank interest rates Condominium sales, Price, Contracts conclusion rate, Stocks : Real Estate Economic Institute Co., Ltd. New home construction starts of dwellings : Land General Information Library by Ministry of Land, Infrastructure, Transport and Tourism Office vacancy rates/rents : Office Building Market Current Report by Miki Shoji Co., Ltd. Value of construction orders received : Land General Information Library by Ministry of Land, Infrastructure, Transport and Tourism Construction Materials Price Index : Economic Research Association Construction Cost Deflator : Land General Information Library by Ministry of Land, Infrastructure, Transport and Tourism TSE REIT Index : Tokyo Stock Ex, Inc. P17