Answer your friend who claims that a) (1) housing boom in Japan is unbelievable due to its declining population (Table 3). b) (2) The condominium prices are determined by the building costs by the construction companies rather than financial condition of buyers. The condominium prices (3) are similar to those in other property types (Table 1) and (4) do not change largely regionally across Japan (Table 2). c) (5) population changes do have similar effects on house prices in large cities and rural areas in Jарan. Table 1: 2015 2018 Table 2: 2012 2016 Table 3: 1997 2005 2012 2013

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Answer your friend who claims that
a) (1) housing boom in Japan is unbelievable due to its declining population (Table 3).
b) (2) The condominium prices are determined by the building costs by the construction
companies rather than financial condition of buyers.
The condominium prices
(3) are similar to those in other property types (Table 1) and
(4) do not change largely regionally across Japan (Table 2).
c) (5) population changes do have similar effects on house prices in large cities and rural areas in
Jарan.
2012 2016 Table 3:
Table 1:
Japan:
Residential
2012 2015 2018 Table 2:
1997 2005 2013
Condo.
Changes in
Prices
Rate
of
Property Price
Index
(2010=100)
Net
Migration
(2010=100)
Residential
100
100
101
Osaka
130
174
Fukuoka
0.6
0.3
Land
with
suburbs
104
Hokkaido
Tokyo
Area
Residential
100
110
115
154
0.8
0.7
0.6
Property
Condominiums
104
120
140
100
0.2
-0.2
Jарan
Average
124
Osaka
0.6
Area
Nagoya
0.5
0.4
Area
Rest of
-0.3
-0.5
Jарan
Transcribed Image Text:Answer your friend who claims that a) (1) housing boom in Japan is unbelievable due to its declining population (Table 3). b) (2) The condominium prices are determined by the building costs by the construction companies rather than financial condition of buyers. The condominium prices (3) are similar to those in other property types (Table 1) and (4) do not change largely regionally across Japan (Table 2). c) (5) population changes do have similar effects on house prices in large cities and rural areas in Jарan. 2012 2016 Table 3: Table 1: Japan: Residential 2012 2015 2018 Table 2: 1997 2005 2013 Condo. Changes in Prices Rate of Property Price Index (2010=100) Net Migration (2010=100) Residential 100 100 101 Osaka 130 174 Fukuoka 0.6 0.3 Land with suburbs 104 Hokkaido Tokyo Area Residential 100 110 115 154 0.8 0.7 0.6 Property Condominiums 104 120 140 100 0.2 -0.2 Jарan Average 124 Osaka 0.6 Area Nagoya 0.5 0.4 Area Rest of -0.3 -0.5 Jарan
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