Nomura announces apartment price movements for April

Nomura Real Estate Urban Net announced the results of their survey on land and apartment price movements as of April 1, 2012. In greater Tokyo, the average price of both residential land and secondhand apartments fell 0.5% during the first quarter. On an annual basis, the price of residential land in greater Tokyo was down 2.8% (compared to a 2.0% decline from one year ago). Secondhand apartment prices fell by 3.1% over the year (compared to a 2.4% decline from the previous period).

Residential land in Tokyo’s 23 wards fell 0.5% in the last 3 months and -2.2% over the past year. The surveyed locations in Tokyo’s 23 wards that saw the biggest decline in land prices over the last year were:

  • Eifuku 2 Chome, Suginami-ku: -13.9%
  • Oizumigakuencho 4 Chome, Nerima-ku: -11.1%
  • Ebisu 3 Chome, Shibuya-ku: -8.6%
  • Higashi Gotanda 5 Chome, Shinagawa-ku: -8.6%
  • Takaidohigashi 2 Chome, Suginami-ku: -7.1%
  • Minamitokiwadai 2 Chome, Itabashi-ku: -7.1%

Some areas in the capital also saw land prices increase over the past year:

  • Senjuasahicho, Adachi-ku: +17.4%
  • Ohanajaya 1 Chome, Katsushika-ku: +8.8%
  • Kameido 7 Chome, Koto-ku: +7.4%
  • Shinkoiwa 4 Chome, Katsushika-ku: +4.2%
  • Shoto 1 Chome, Shibuya-ku: +2.3%

Residential land and secondhand apartment price movements in Greater Tokyo between 2001 and 2012:

*Data was collected between January and March 2012.

Nomura Real Estate Urban Net (

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