JapanTimes reports on the strengths of their nation’s modular and prefabricated new home industry, what they sometimes refer to as ‘manufactured homes,’ even though they don’t have any relationship to U.S. HUD Code homes. There are 10 major players in the Japanese factory built housing market. Their homes tend to be multi-level, due to high land cost and come with standard features and a variety of upgrades that can allow for customization of the home. At a two home model sales center along a retail-heavy stretch of highway in northern Chiba Prefecture, the homes were in the mid-price range, between ¥20 million and ¥30 million. This would be equal to about $259,980 to $389,970 U.S. dollars. The lower priced model at the center had a first floor containing a living-dining-kitchen area, a small family room, a bath/utility space and a somewhat ostentatious washitsu (Japanese room) with tatami mats. The second floor had three bedrooms and a second toilet. Price is their main driver for factory built housing demand. In the somewhat unusual Japanese housing market, a home immediately depreciates once you move in. Alastair Townsend said people can’t expect a building to be an investment, so they should “keep in mind that (the house they buy) will likely be their home for a lifetime.”
