Monday, October 19th, 2009
Ministry of Land, Infrastructure and Transport corporate with Waseda University and others, developed constant-quality house price indices for Japan. (Japanese version Case-Shiller index)
They utilized market data of secondhand condominiums and referred America’s representative house price indices,
“S&P Case-Shiller Home Price Indices” as well.
These are first home price indices which extensively collected actual market prices in Japan. They are trying to tentatively send these indices to Tokyo Stock Exchange and Osaka Securities Exchange within the year.
Their aims are providing better transparency to activate the market. Waseda University indexed market prices and rents of secondhand condominiums for the past ten years, which were provided by Real Estate Information Network For East Japan.
Relatively, there are more transactions dealings on condominiums than houses therefore they reflect the fluctuation of house prices more accurately.
Provided by Nikkei News Paper on Oct 15th