Japan’s housing market prices continue to rise, despite sluggish economic growth
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Despite its seemingly negligible impact on the wider economy, “Abenomics” - i.e., the reflationary policies of Prime Minister Shinzo Abe, who came to power in December 2012 – have helped prop up Japan’s property market.
Abenomics stimulates the economy by increasing public infrastructure spending, devaluing the yen and aggressive quantitative easing by the Bank of Japan (BOJ). Since the introduction of Abenomics, real estate prices have accelerated strongly in Japan. Transactions started to pick up in 2012 and rose rapidly in 2013, as monetary policy kicked in. Residential construction activity is also recovering.
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