Data Analysis for Monitoring Japan's Real Estate Market

Yuichiro Ito, Ichiro Muto and Yasutaka Takizuka
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Yuichiro Ito: Bank of Japan
Yasutaka Takizuka: Bank of Japan

No 15-E-2, Bank of Japan Review Series from Bank of Japan

Abstract: Large movements in the real estate market not only magnify fluctuations in the real economy but also destabilize the financial system. For this reason, it is quite important for central banks to monitor real estate market trends both in terms of monetary policy and prudential policy. Based on recently enhanced statistics, this article presents a data analysis for monitoring the real estate market from three perspectives: 1) real estate transactions; 2) real estate prices; and 3) real estate finance. In so doing, we explain that dispersions in real estate prices are valuable indicators in detecting overheating of the real estate market.

Date: 2015-03-27
New Economics Papers: this item is included in nep-ure
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