Japan Construction Market Overview
Japan's residential construction market is currently contracting, with housing starts of 820K in 2023 — 8% below the 10-year average of 890K.
The country's recorded peak was 967K units in 2016. Current activity is -15% below that peak.
Among the 21 OECD countries tracked, Japan ranks #2 by total housing starts. Year-over-year change is -4.7%, reflecting a relatively stable market.
For contractors working in Japan: A contracting market may create opportunities to negotiate better material pricing or lock in subcontractor rates.