Changes in the Business Environment, Including Personal Consumption, Interest Rates, Land Prices, and Housing Policies

「米戸建て住宅事業で、中東情勢の影響による資材価格高騰や金利高に伴う買い控えなど、市場低迷が影響する。」

「In Japan’s housing market, housing starts for owner-occupied, rental and for-sale homes remained firm despite continued increases in construction costs and an upward trend in mortgage rates. Meanwhile, in the US housing market, underlying demand for new homes remained strong against a backdrop of a chronic housing shortage, but customers continued to take a wait-and-see approach amid uncertainty over the outlook arising from higher mortgage rates and inflation.」

「In Japan’s housing market, some front-loaded demand was seen ahead of revisions to the Building Energy Conservation Act and other regulations, but starts of owner-occupied and rental housing remained weak, partly due to soaring construction costs. In the United States, underlying demand for new homes remained strong against the backdrop of a chronic housing shortage, but caution toward new housing starts was evident due to concerns about slowing demand arising from persistently high mortgage rates and uncertainty caused by tariff policies, as well as higher construction costs.」

「In Japan, new housing starts remained weak, partly due to higher construction costs. In the United States, mortgage rates remained high as long-term interest rates rose, while the adjustment in housing starts and the decline in existing-home inventories continued. However, underlying demand for housing remained strong against the backdrop of a chronic housing shortage relative to population growth, and recent signs of a recovery were seen amid a strong labour market and rising share prices.」

「In Japan, new housing starts were weak overall, partly due to changes in post-COVID consumer behaviour and higher construction costs, although rental housing remained solid. In the United States, demand for new homes remained strong, but it remained necessary to monitor the impact of higher mortgage rates and elevated home prices on demand.」

「In Japan, new housing starts remained broadly solid overall, as the upward trend in rental housing starts continued despite a downward trend in detached housing. In the United States, housing starts remained in an adjustment phase due to elevated mortgage rates and home prices, among other factors. However, underlying demand for housing remained strong, and signs of a recovery were seen recently as mortgage rates stabilised from their previous levels.」

「In Japan’s housing market, new housing starts remained solid, but orders trended downward against the backdrop of increased spending on travel and dining out following the lifting of restrictions on activity, and more cautious consumer sentiment due to rising prices.」

「In Japan’s housing market, new housing starts remained solid, but near-term order conditions remained weak due to the impact of restrictions on activity associated with the resurgence of infectious diseases.」

「In Japan, the recovery in housing demand is expected to continue, supported by stronger willingness to purchase homes as employment and income conditions improve and lifestyles change. Against the backdrop of the government’s energy policy and revisions to housing performance labeling standards, demand is also expected to increase for high-quality homes, including highly insulated housing.」

「In Japan’s housing market, the recovery in new housing starts continued. Interest in purchasing homes increased, and new needs for housing emerged, against the backdrop of housing acquisition support measures such as the Green Housing Points System and the extension of housing loan tax deductions, as well as changes in lifestyles during the COVID-19 pandemic.」

「In Japan’s housing market, new housing starts declined, particularly for detached and rental housing. In addition, overall market orders deteriorated and the outlook became uncertain because sales activities were suspended in connection with measures to prevent the spread of COVID-19.」

「In Japan’s housing market, although starts of subdivided housing, including detached homes and condominiums, increased, rental housing starts fell significantly due to tighter lending by financial institutions, resulting in a decline in new housing starts. The order environment also continued to trend below the previous year due to the impact of the consumption tax increase and natural disasters, among other factors.」

「In Japan’s housing market, rental housing starts declined amid continued tighter lending by financial institutions and weaker investment sentiment, including concerns about vacancy risk, while starts of subdivided housing, including detached homes and condominiums, increased. As a result, the number of new housing starts was broadly unchanged from the previous year. In the order environment, the impact of the consumption tax increase remained a concern.」

「In Japan’s housing market, rental housing starts declined due to tighter lending by financial institutions, concerns about vacancy risk and a decline in investment sentiment, among other factors. However, new housing starts increased from the previous fiscal year because starts of detached homes increased.」

「In the housing market, the number of new housing starts continued to trend downward year on year, including a decline in rental housing construction associated with changes in financial institutions’ lending attitudes and other factors.」

「In the housing market, the number of new housing starts continued to trend downward year on year, including a decline in rental housing construction associated with changes in financial institutions’ lending attitudes.」

「Although near-term construction demand for rental housing remained weak due to concerns about occupancy rates in certain areas and changes in financial institutions’ lending attitudes, solid demand continued, particularly in urban areas.」

「Because our Group’s business activities focus on housing, it tends to be significantly affected by trends in personal consumption, interest rates, land prices, housing-related policies and tax systems, resulting changes in rental market prices, and regional economic trends. Changes in these business conditions may affect the Group’s performance.」