Japan’s housing starts surge 39.1% in February, the fastest growth since 2008

Posted on May 7, 2025   |  

Japan’s housing starts jumped 39.1% year-over-year in February 2025, a major rebound from the 2.4% growth seen in January.

The increase far exceeded market expectations of just a 1.0% rise.

This was the strongest housing growth since September 2008, signaling a major turnaround in construction activity.

Growth was seen across all types of new housing:

Owned homes rose 37.4% (vs -0.2% in January)

Rented units surged 50.6% (vs 3.2%)

Issued dwellings nearly doubled at 99.6% (vs -40.4%)

Built-for-sale homes climbed 22.8% (vs 5.1%)

Prefabricated homes rose 9.9% (vs -0.9%)

Two-by-four construction jumped 45.9% (vs 10.1%)