According to the survey results unveiled by the Yano Economic Research Institute on the 5th, insight was provided into the domestic resale housing market. The institute's researchers conducted extensive interviews, phone consultations, and document analyses to offer insights and projections for businesses in the housing resale sector.
Each year, the market witnesses growth as real estate companies buy, refurbish, and subsequently sell properties. In 2022, the volume of transactions, which includes both standalone houses and condominium units, was projected to be approximately 41,000 units. This represents a 5.1% increase from the previous year. As new condo prices continue to soar, consumers are becoming more attracted to the affordability of the pre-owned housing segment. Notably, houses in the resale sector are gaining traction. After renovation, they offer homeowners the appeal of moving into a space that feels like a brand-new property.
Looking ahead to 2023, the market is expected to grow by another 2.4%, equating to approximately 42,000 units. This upward trend is projected to continue, with estimates suggesting a significant 50,000 units by 2030—an impressive 22.0% increase from 2022 figures. While the institute recognizes rising housing loan expectations as a key driver of this growth, it also highlights the ongoing allure of low-interest rates and attractive incentives, such as housing tax benefits.
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