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Japan's housing starts expand 13.7 percent in Oct.

Xinhua, November 30, 2016 Adjust font size:

Japan's housing starts in October increased 13.7 percent from a year before to 87,707 units, up for the fourth consecutive month, government data showed Wednesday.

The area for housing starts in October added 9.7 percent on a year-on-year basis to 6.964 million square meters, increasing for the fourth month in a row, according to statistics released by the Ministry of Land, Infrastructure, Transport and Tourism.

Owner-occupied housing starts rose 4.9 percent from a year earlier to 26,046 units, up for nine months in a row.

Rental housing starts jumped 22.0 percent on year to 39,950 units for the 12th straight monthly increase amid people's demand for reducing inheritance tax.

Housing starts on condominiums and other homes built for sale expanded 11.7 percent to 21,050 units, registering the second consecutive monthly increase.

By region, housing starts rose 15.6 percent and 11.1 percent in the Tokyo metropolitan region and central Japan's Chubu region including Nagoya, respectively in the month, while declining 4.1 percent in western Japan's Kinki region centering on Osaka, said the ministry. Endit