History of Condominium Business in Japan|HASEKO Corporation



History of Condominium Business in Japan

Japan's first for-sale condominium was built in 1956, followed by the first condominium boom from 1963 through 1964. The boom, triggered by the 1962 enactment of the Act on Building Unit Ownership, Etc., the basic law concerning condominiums, as well as by the 1964 Tokyo Olympic Games stimulating the economy, was limited to highgrade condominiums located in central Tokyo.

Latter Half of the 1960s: Popularization of Condominiums

Properties located near central Tokyo led the diffusion; the mortgage loan system became popular and triggered the market expansion.

It was 1968 when Haseko started construction of its first condominium. At this time, Haseko already worked not only on providing land information and receiving orders in the form of Haseko Exclusive Contracts through business proposals, but also on meeting and handling various customer needs and complaints.

1970s: Condominiums Become Common; Increase of Large-Scale Developments by Private Developers

Example of CONBUS series

Condominiums adopting Western unit plans increased, and the latter half of the 1970s saw the supply of condominiums gain momentum in areas adjacent to Tokyo Prefecture.

In 1973, Haseko developed CONBUS (Condominium Building System), an innovative condominium production system that went down in history. Enabling “improved productivity”as well as “stabilized quality and performance” through standardization, the system helped provide more people with reasonably-priced and quality housing. These condominiums spread dramatically in the metropolitan areas (Tokyo and Kansai), and Haseko used the system to provide approximately 120,000 units in 10 years.

1980s: Improvement in Condominium Quality, including High-Rise Buildings and Enhanced Livability

Super expensive properties were provided in the bubble-era specifications; family-type condominiums for first-time home buyers were built in suburbs: progress was made in construction technologies and functional performance.

The social environment no longer allowed uniform housing to meet the market needs. In light of this change, Haseko further enhanced the system developed in the CONBUS era and established industry standards by being a pioneer in responding to diversifying needs. An industry standard in the “condominium sales method” to date, in which a single condominium offers a variety of options for arranging different floor plans and interior designs for each of its units, was also developed by Haseko ahead of other companies.

1990s to Present Day: Realizing Large-Scale, Super High-Rise, Highly-Functional and Added-Value Condominiums

Demand expanded steeply due to the “phenomenon of returning to city centers”; unprecedented mass supply of over 80,000 units per year continued, and the era came to demand housing that allows permanent living while commanding variety and advanced features.

Haseko is a leader in providing housing that offers variety and advanced features as well as allowing permanent living – the values demanded by society. As such, Haseko has continued to propose “project-type condominiums”(*) that can realize widespread versatility, securing excellence in such fundamental aspects as earthquake resistance and environmental standards as a building over the long term, while responding to the wide range of needs residents.

(*) The project-type condominiums include “E-Label”, a system providing an integrated set of selections for floor plans, interior specifications and facilities, and “Be-Next”, a next-generation condominium that adds future versatility while enhancing fundamental performance and securing environmental performance that match the requirements of the times.

Number of Condominiums in Stock

The Ministry of Land, Infrastructure, Transport and Tourism estimates the number of condominiums in stock throughout Japan to total 6.23 million units as of the end of 2015. Of these, Haseko has constructed roughly one out of ten condominium units, building a cumulative total of 582,109 condominium units as of the end of 2015.