Number of Japanese living in condos increase

February 04, 2010 - Japan

Families and single occupants living in condos accounted for 11.42 per cent of all households in Japan at the end of 2009, up 0.27 percentage point from a year earlier, data from Tokyo Kantei Co. shows.

But given declines in condo offerings, the percentage may start falling, going forward, the company predicts.

The figure in greater Tokyo climbed 0.31 point to 20.19 per cent, a record for the area. The Osaka metropolitan region saw its number rise 0.26 point to 14. 85 per cent, and greater Nagoya´s inched up 0.11 point to 7.46 per cent.

Among major cities, Fukuoka topped the ranking with 29.24 per cent, followed by Tokyo´s 23 wards and Kobe, at 27.49 per cent and 26.97 per cent respectively.

But condo ratios edged down in areas showing a net increase in new residents, such as Minato Ward in the capital.

Condo development is difficult in these areas due to high land prices, forcing more people to choose rental residences.

Source: Property Report

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