Japan Housing Starts Rise 18.6 Percent in June
Japan's housing starts increased for a third consecutive month in June, led by significant growth in rented housing units.
The Ministry of Land, Infrastructure, Transport, and Tourism reported that Japan's housing starts grew by 18.6 percent year-on-year in June. This figure exceeded market expectations of 12.8 percent, though the pace of growth slowed from the 33.9 percent surge seen in May.
Growth was most pronounced in the rented housing category, which rose 24.6 percent. Owned categories grew by 15.7 percent, while built-for-sale categories increased by 14.2 percent. In contrast, issued housing starts dropped sharply by 41.8 percent.
Seasonally adjusted annualized housing starts rose to 786,000 in June, up from 757,000 in May. The data marks the third consecutive month of growth for the sector.
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