There are a few words here and there that are added in to help in the flow of the translation, but that is the gist of what it says. A more direct translation would be something like:
"Terrace House is a record of the communal living conditions of 6 strangers (male and female)." As this sort of translation does not flow well and is too direct, I imagine it was changed slightly for that reason. It's interesting to see how differently two languages express the same idea.