The Real Estate Information Network, known as REINS (pronounced “rains”) recently announced the listing and usage statistics for the system nationwide in October 2021.

REINS is known as the backbone of the real estate brokerage industry in Japan so data from this source tends to be seen as a reliable bellwether for the overall market. 

All numbers explained below are for Japan nationwide. 

The number of October’s newly registered listings nationwide was 427,604 listings, up 5.3% Year-on-Year (YoY), marking the second consecutive month of growth. 

The total number of registered properties active in the system prior to and including October increased for the third consecutive month to 861,322 listings, up 3.7% YoY.

The number of reported sales and leasing contracts declined for the fourth consecutive month to 46,857, down 1.7% YoY. 

For Sale Data Details

The number of newly registered properties for sale declined for the 19th consecutive month to 118,643 listings, down 9.4% YoY. 

The number of reported sales contracts executed decreased for the fourth consecutive month to 16,627 contracts, down 4.6% YoY. 

Of these executed sales contracts, 13,414 were exclusive vendor agreements (down 10.1% YoY), 42,661 were sole agency vendor agreements (down 0.6% YoY), and 32,602 were general vendor agreements (down 6.6% YoY).

A vendor agreement is executed when a seller hires an agency to represent their property sale on the open market.

Vendor agreements come in three types; exclusive vendor agreements where only the hired agency can execute a sales contract, a sole agency vendor agreement which is similar to the previous type with the difference that the seller can contract with their own buyer should they find one, and a general vendor agreement, which means the seller may hire as many agencies they like to try and sell the property.

Regarding October’s total newly listed vendor agreements, the month saw 14,175 vendor agreements executed nationwide, down 1.8% YoY. 

Of these vendor agreements, 3,115 were exclusive vendor agreements (down 7.1% YoY), 8,947 were sole agency vendor agreements (up 2.8% YoY), and 2,113 were general vendor agreements (down 10.8% YoY).

As for properties for sale by real estate companies which don’t require vendor agreements, October’s new listings were 28,628 listings nationwide (down 21.6% YoY), and reported sales contracts were 2,382 (down 18.1% YoY).

For Rent Data Details

The number of newly registered rental properties increased for the 18th consecutive month to 308,961, up 12.2% YoY. 

The total number of registered rental properties increased for the 17th consecutive month to 571,895, up 17.0% YoY.

The number of reported leasing contracts executed decreased for the 5th consecutive month to 30,230, down 0.1% YoY. 

Further Reading

Real Estate Information Network October 2021 Usage Report (Japanese only; November, 2021)