Investor Presentaiton
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Housing market developments
Japanese house prices have been stable with limited impact of the global financial crisis compared to other
developed countries, and are now in an upward trend.
Negative impact of COVID-19 on housing starts is smaller than during the financial crisis and homeownership
rate has been stable at approx. 60%.
House Prices
Housing Starts / Homeownership Rate
300
250
House Price Index (2002 = 100)
150
100
50
50
355.8
2,000
302.3
221.2
213.0
209.4
200
200.1
183.2
Sep-02
France
Source: Bank for International Settlements
Sep-03
Sep-04
Sep-05
Japan
Sep-06
Sep-07
Sep-08
Italy
USA
Sep-09
Sep-10
Sep-11
Sep-12
UK
Australia
Sep-13
Sep-14
Sep-15
Sep-16
Sep-17
Sep-18
Sep-19
Canada
Singapore
Sep-21
Sep-20
Germany
Units (in thousands)
1,500
1,000
118.9
95.4
500
Housing Starts (left axis)
70%
Homeownership Rate (right axis)
61.7%
61.2%
61.1%
61.2%
0
FY03/02
FY03/03
FY03/04
FY03/05
FY03/06
FY03/07
FY03/09
FY03/08
FY03/10
FY03/11
FY03/12
FY03/13
FY03/14
FY03/15
FY03/16
FY03/17
FY03/18
FY03/19
FY03/20
FY03/21
FY03/22
Source: Ministry of Land, Infrastructure, Transport and Tourism, Statistics Bureau,
Ministry of Internal Affairs and Communications
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