Monday, May 31, 2010

April - Housing starts up for 1st time in 17 months

Japan's housing starts in April edged up 0.6 percent from a year earlier to 66,568 units for the first increase in 17 months, the government said Monday.

The rise is attributable to increased starts on large-scale condominiums for sale in Tokyo as well as a rebound from the year before's 32.4 percent plunge amid the global recession, according to the Ministry of Land, Infrastructure, Transport and Tourism.

The ministry said the housing market has shown signs of recovery as a whole but it is continuing to seesaw.

Starts on condos for sale by property developers jumped 35.8 percent to 9,668 units for the first rise in 16 months, while those on single- family houses for sale rose 19.0 percent to 8,363 units for the fourth straight month of rise.

By region, housing starts rose 7.2 percent in the Tokyo metropolitan area, 1.0 percent in the Chubu region centering on Nagoya and 4.6 percent in the Kinki region including Osaka.

However, the rest of Japan saw a decline of 8.0 percent.

http://www.breitbart.com/article.php?id=D9G1ME8G1&show_article=1

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