Japan - House Price Index

The Ministry of Land, Infrastructure and Transport of Japan (MLIT) reports a "Japan Property Price Index and Property Transaction Volume" with monthly, quarterly, and annual data; residential and commercial and property price indexes; at the national, regional, metropolitan, and prefecture geo levels.

• Measurements:
  • Unitary count (#)
  • Fixed-base value indexes relative to 2010 (Index 2010=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies: Monthly, quarterly, annual
• Start dates: 2008m1, 2008Q2, 1984
• Geo coverage:
  • Country
  • All nine regions
  • Three prefectures
  • Three major metro areas ("TMA")
• Do all concept-geo pairs exist: No

Residential Property Price Index (JRPPI)

Methodology and reports are based on recommendations made by a coordinated team consisting of the International Monetary Fund and G20 countries. The set of standards is found in the "Handbook on Residential Property Price Indices".

Property types:

• Residential: built solely for residential purposes, with no portion of the housing used for business purposes such as stores, offices, and work rooms.
• Detached housing: one building with one residence. The structure sits entirely in the lot without sharing any walls with an adjacent structure.
• Condominiums: dwelling unit can be a single apartment or unit in a multifamily residence.

Data is based on the actual transaction data of residential property through questionnaires. Transacations are between private bodies only. Transactions between public bodies are excluded. Temporal market change rates of residential properites are extracted using the hedonic regression method to adjust the quality variation of individual properties.

Commercial Property Price Index (JCPPI)

Commercial property price indices are broken down by land structures and type of land. Land structures include: retail, office, warehouse, factory, and apartment. Type of lands are: commercial and industrial.

Data is obtained through transaction price by questionaires and through real estate interests in trust disclosed by J-REIT funds. Indices are calculated using the hedonic approach (time dummy variable method).

Geographies

Prefectural components of regions:

• Hokkaido: Hokkaido
• Tohoku: Aomori, Iwate, Miyagi, Akita, Yamagata, Fukushima, Niigata
• Kanto: Ibaraki, Tochigi, Gunma, Saitama, Chiba, Tokyo, Kanagawa, Yamanishi
• Hokuriku: Toyama, Ishikawa, Fukui
• Chubu: Nagano, Shizuoka, Gifu, Aichi, Mie
• Kinki: Shiga, Kyoto, Osaka, Hyogo, Nara, Wakayama
• Chugoku: Tottori, Shimane, Okayama, Hiroshima, Yamaguchi
• Shikoku: Tokushima, Kagawa, Ehime, Kochi
• Kyushu-Okinawa: Fukuoka, Saga, Nagasaki, Kumamoto, Oita, Miyazaki, Kagoshima, Okinawa

Prefectural components of metro areas:

• Tokyo including suburbs: Saitama, Chubu, Tokyo, Kanagawa
• Nagoya including suburbs: Gifu, Aichi, Mie
• Osaka including suburbs: Kyoto, Osaka, Hyogo

Further reading

At the source:

• Source methodology (pdf)

International standard:

• Handbook on Residential Property Prices Indices - Eurostat (pdf)