According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,630,000 Yen in June, down 0.3% from the previous month but up 4.8% from last year. This is the first time in 7 months that prices have fallen from the previous month, although they continue to remain above 2013 levels. The average apartment age was 22.0 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,570,000 Yen, down 0.1% from the previous month but up 7.7% from last year. The average apartment age was 22.0 years.

The average price across greater Tokyo was 28,310,000 Yen, down 0.4% from the previous month but up 2.2% from last year.

  • Greater Tokyo: 28,310,000 Yen (-0.4% from the previous month; +2.2% from June 2013)
    • Tokyo: 37,840,000 Yen (-0.6%; +3.9%)
    • Kanagawa Prefecture: 24,180,000 Yen (-0.3%; +1.0%)
    • Saitama Prefecture: 18,490,000 Yen (+0.9%; +3.5%)
    • Chiba Prefecture: 18,420,000 Yen (+0.7%; +3.5%)
  • Kinki Region: 18,060,000 Yen (+0.3%; +0.4%)
    • Osaka: 18,440,000 Yen (+0.3%; +0.4%)
    • Hyogo Prefecture: 17,640,000 Yen (+1.1%; -1.4%)
  • Chubu Region: 14,670,000 Yen (-0.2%; -0.9%)
    • Aichi Prefecture: 15,370,000 Yen (+0.4%; +1.1%)

Apartment asking prices by city:

  • Tokyo 23-ku: 41,630,000 Yen (-0.3%; +4.8%)
  • Yokohama City: 25,690,000 Yen (+0.8%; +1.2%)
  • Saitama City: 21,070,000 Yen (+3.8%; -0.4%)
  • Chiba City: 16,960,000 Yen (-0.2%; +0.4%)
  • Osaka City: 22,170,000 Yen (+0.6%; +3.6%)
  • Kobe City: 17,740,000 Yen (-0.2%; -2.3%)
  • Nagoya City: 17,790,000 Yen (+1.7%; +2.6%)

Apartment asking prices in Tokyo, Osaka and Nagoya:

  • Tokyo central 6 wards: 57,570,000 Yen (-0.1%; +7.7%)
  • Jyonan, Jyosai 6 wards: 44,270,000 Yen (-0.4%; +3.6%)
  • Jyohoku, Jyoto 11 wards: 32,420,000 Yen (-0.2%; +4.5%)
  • Osaka central 6 wards: 29,020,000 Yen (+1.9%; +4.8%)
  • Nagoya central 6 wards: 21,520,000 Yen (+2.6%; +3.1%)

About the data:

  • Tokyo central 6 ward: Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya.
  • Jyonan, Jyosai 6 wards: Shinagawa, Meguro, Ota, Setagaya, Nakano, Suginami.
  • Jyohoku, Jyoto 11 wards: All other wards in Tokyo.
  • Osaka central 6 ward: Fukushima, Nishi, Tennoji, Naniwa, Kita, Chuo.
  • Nagoya central 3 wards: Naka, Higashi, Chikusa.

The data above is based on advertised prices which may be higher than actual sale prices after negotiations. Click here to read the REINS report about actual sale prices in June.

Source: Tokyo Kantei, July 22, 2014.

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