Market prices for apartments along the Hibiya Subway Line in Tokyo

The following data was published by Tokyo Kantei in July, 2011, and is based on the asking prices for apartments for sale on the secondary market along the Tokyo Metro Hibiya Line. The most recent data for 2011 is based on listing prices from March to May.

The apartment price in the table below is the price in Yen per square meter. The number in brackets is the average apartment age in years.

Station2011
20102009
Hiroo¥995,225(20.6)¥1,079,925(19.9)¥1,073,875(19.7)
Roppongi840,950(25.9)955,900(22.6)928,675(22.1)
Kamiyacho1,237,225(9.9)1,318,900(8.4)1,225,125(12.3)
Higashi-Ginza744,150(22.2)825,825(15.1)877,250(12.6)
Tsukiji665,500(19.8)662,475(18.6)568,700(23.0)
Hatchobori650,375(15.4)635,250(14.8)653,400(13.4)
Kayabacho565,675(24.4)541,475(24.1)517,275(22.8)
Ningyocho626,175(18.4)562,650(19.2)592,900(17.5)
Kodemmacho
686,675(12.9)695,750(8.1)716,925(9.5)
Naka-Okachimachi
674,575(10.9)547,525(16.3)592,900(10.5)
Iriya490,050(16.3)471,900(15.2)429,550(17.5)
Minowa468,875(15.7)423,500(16.0)396,275(16.9)
Minami-Senju468.875(11.1)432,575(13.0)414,425(10.9)

The average price for an apartment along the 13 stations on the Hibiya Line in 2011 was 726,000 Yen/sqm. This is a drop of 4.8% from 2010. Of the 2365 properties sampled, the average age of an apartment was 18.6 years and the average size was 56.90 sqm.

The stations with the biggest fall in average apartment prices were:
– Higashi-Ginza Station: down 15.17% from 2009
– Roppongi Station: down 9.45%
– Hiroo Station: down 7.04%
– Kodemmacho Station: down 4.22%

Between Tsukiji and Kayabacho Stations, the average price has increased over the past 2 years despite the age of the properties becoming older. The primary cause of the increase is that the average distance to the station became shorter.

Naka-Okachimachi Station had a small sample of only 27 properties, so the average price is subject to wider fluctuations. The reason for the increase in the average apartment price around this station was recent construction of several one-room (studio) apartment buildings.

Source:

Tokyo Kantei, July 25, 2011.