Post: Monday August 29, 2011
This indicates the transaction price trend of used apartments sales publicized by the Real Estate Information NetWork System designated by MLIT (Ministry of Land, Infrastructure, Transport and Tourism).
While the trend that the number of real estate transactions increases while price of properties drops remains the same, the “mini real estate bubble” status appeared due to the REIT listing competitions disappeared completely after Lehman Shock. Since most of the transactions were made based on actual demands, transaction prices haven’t changed much.
Deflation is the main factor of this trend. Hence the cautious stances toward loans of financial institutes have been restraining excess investments. The recovery of Indices Industrial Production had driven Nikkei Index to mark the highest of all through last year after 6 months of depression; which lead to the small rise of real estate transaction price from the end of last year to this March. However, after the Tohoku Earthquake in March, real estate transaction price has steadily remained low as before.
*Data of Chiyoda,Chuo,Minato from 2008 to 2009 is not shown on the chart because REINS does not publicize.