According to the Real Estate Economic Institute, a total of 5,306 brand new apartments were released for sale across greater Tokyo in July, up 31.6% from last year and up 8.6% from last month. The contract rate was 81.6%, up 8.4 points from last year. The contract rate in buildings over 20 storeys was 90.8%.
The average new apartment price was 51,280,000 Yen (528,000 USD), up 6.1% from last month and up 9.9% from July 2012. The average price per square meter was 727,000 Yen, up 6.0% from last month and up 12.2% from last year.
The following condominiums achieved same-day sellouts during their first stage of sales in July:
- Capital Gate Place, Chuo-ku. 410 apartments sold. Average price of 71,010,000 Yen.
- Brillia Ariake City Tower, Koto-ku. 110 apartments sold. Average price of 47,670,000 Yen.
- Proud Tower Oizumi Gakuen, Nerima-ku. 151 apartments sold. Average price of 65,710,000 Yen.
- Proud Funabashi, Chiba. 215 apartments sold. Average price of 38,560,000 Yen.
Tokyo
2,686 brand new apartments were sold in Tokyo’s 23-ku in July. The average price was 59,040,000 Yen (608,000 USD), up 8.3% from last year and up 4.3% from last month.
The average price per square meter was 868,000 Yen, up 6.9% from last year and up 1.6% from last month.
78 apartments priced over 100 million Yen were sold during the month.
No. of sales by apartment type in Tokyo’s 23-ku:
- 1-Bedroom: 232
- 2-Bedroom: 518
- 3-Bedroom: 1,820
- 4-Bedroom: 66
Average sale price by area:
- Tokyo 23-ku: 59,040,000 Yen (+8.3% from July 2012)
- Western Tokyo: 45,570,000 Yen (-18.1%)
- Kanagawa Prefecture: 45,160,000 Yen (+3.8%)
- Saitama Prefecture: 35,980,000 Yen (+2.4%)
- Chiba Prefecture: 36,870,000 (+1.5%)
Average sale price per square meter:
- Tokyo 23-ku: 868,000 Yen (+6.9% from July 2012)
- Western Tokyo: 636,000 Yen (-10.9%)
- Kanagawa Prefecture: 617,000 Yen (+1.5%)
- Saitama Prefecture: 485,000 Yen (-0.8%)
- Chiba Prefecture: 479,000 Yen (+3.0%)
Source: The Real Estate Economic Institute, August 12, 2013.