Real estate prices are rising, but are they too high?
In an era of high-stakes real estate markets, is it time for a new strategy to lower prices and boost supply?
It’s a question that’s been debated among Japanese real estate agents and real estate executives.
Real estate agent Yuki Sato said the country needs a different approach to real estate development, and one that puts the needs of consumers first.
“Our society has become too dependent on money, so we have to make sure we are protecting our economy and consumers first,” Sato told The Next Media.
“We need to do everything we can to keep people employed, and also not to lose our way of life.”
A new policy to lower the prices of real estate in Japan would likely see a massive change in the way the country develops its housing stock.
Currently, a growing number of Japanese households are moving into the city as a result of the government’s policy to increase affordable housing.
Sato said it’s not only the city where the number of people moving into housing has increased.
In rural areas, there’s also been an increase in new homes being built and rental properties being opened up.
“In the past, people didn’t really know where they lived.
They only knew that they were going to live in a certain area,” Satella said.
“Nowadays, we know that a lot of people live in these places.
We know how important it is to make that affordable, and that’s why we are doing everything to help people find a place to live.”
In recent years, the number and cost of housing in Japan has increased by about 20% per year.
According to the National Bureau of Statistics, the average house price in Japan in 2019 was 1,821,000 yen ($15,000), up from 1,702,000 in 2018.
A typical house is estimated to cost around 4,200,000 Japanese yen ($2,600).
The rise in housing prices is due in part to the rapid rise in the number, and the costs, of housing.
In the past few years, there has been a rise in new construction, as well as the expansion of existing housing units, but it is still too early to say whether that trend will continue, or if the pace of development will continue.
Satella believes that it’s important to look at the overall costs of housing development in Japan.
According the Japan Association of Real Estate Agents, in 2019, new housing construction cost the government around 1.7 trillion yen ($17.7 billion).
This includes the construction of new homes and new residential units, as the government tries to build more affordable housing for the nation.
According to the Japan Home Builders Association, a total of 3.6 billion yen ($3.5 billion) were spent in building new homes in 2019.
This includes new homes that were built in 2018, and homes that had been built before, as part of a national plan to build new housing units.
A rising number of households in Japan are moving from the rural to the city, as a consequence of a high cost of living, and more and more of them are living in apartments.
However, in the past years, this trend has also started to decrease.
According in the Japan Institute of Economic Research, the proportion of new apartments built in 2019 decreased from 2.7% to 2.2%, and the proportion that were used to live at home increased from 16.2% to 18.2%.
Satelli said that the increase in apartment construction is a result, in part, of the increased number of apartments being built.
“There are a lot more apartments than people, so they are building more apartments,” Saito said.
“We are starting to see an increase, but this will depend on the way we do things,” Sohno said.
Satellite imagery shows that in the city of Tokyo, the increase of apartment construction in 2019 will probably continue.
As a result the number in Tokyo has grown by about 200,000 people, or about 10% of the city’s population.
However in the countryside of the same city, there are fewer apartment units being built, as more people are moving to the suburbs.
According Sato, this has been due to the increase and construction of a lotion factory in the areas around the factory.
“These new factories make sure that people don’t have to worry about getting sick or getting injured,” Satos said.
However it’s also possible that these factories will also be a reason for the increase.
According in the same report, the National Institute of Statistics also found that there were more than 200,400 new apartment units in 2020, up from 156,600 in 2018 and 133,100 in 2017.
However the number is not as high as it was in the rural areas of Japan.
The country is already in the midst of a massive housing shortage, with housing costs now set to rise even more in 2020.