<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE JOHN
HANCOCK VARIABLE SERIES TRUST I ANNUAL REPORT DATED DECEMBER 31, 1998 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 07
   <NAME> REAL ESTATE EQUITY
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                          149,365
<INVESTMENTS-AT-VALUE>                         151,908
<RECEIVABLES>                                    1,170
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 153,078
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          289
<TOTAL-LIABILITIES>                                289
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       149,582
<SHARES-COMMON-STOCK>                           12,263
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        2,108
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (180)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         1,279
<NET-ASSETS>                                   152,789
<DIVIDEND-INCOME>                               10,843
<INTEREST-INCOME>                                  173
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,229
<NET-INVESTMENT-INCOME>                          9,787
<REALIZED-GAINS-CURRENT>                         1,614
<APPREC-INCREASE-CURRENT>                     (44,965)
<NET-CHANGE-FROM-OPS>                         (33,564)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (8,848)
<DISTRIBUTIONS-OF-GAINS>                       (1,695)
<DISTRIBUTIONS-OTHER>                             (58)
<NUMBER-OF-SHARES-SOLD>                          1,549
<NUMBER-OF-SHARES-REDEEMED>                      2,894
<SHARES-REINVESTED>                                778
<NET-CHANGE-IN-ASSETS>                        (51,342)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,071
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,229
<AVERAGE-NET-ASSETS>                           178,542
<PER-SHARE-NAV-BEGIN>                            15.91
<PER-SHARE-NII>                                   0.77
<PER-SHARE-GAIN-APPREC>                         (3.38)
<PER-SHARE-DIVIDEND>                            (0.70)
<PER-SHARE-DISTRIBUTIONS>                       (0.14)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.46
<EXPENSE-RATIO>                                   0.69
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>