According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in July 2016 was 34,940,000 Yen, up 0.6% from the previous month and up 13.9% from last year. This is the 7th month in a row to record an increase from the previous month. The average building age was 22.4 years.
In the Tokyo metropolitan area, the average asking price was 47,860,000 Yen, down 0.1% from the previous month but up 12.2% from last year. This ends a 24-month streak of consecutive monthly price increases. The average building age was 22.0 years.
In Tokyo’s 23 wards, the average asking price was 52,790,000 Yen, down 0.2% from the previous month but up 10.8% from last year. The average building age was 21.9 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,850,000 Yen, up 0.5% from the previous month and up 7.3% from last year. The average building age was 20.0 years.
Asking prices across Japan:
Greater Tokyo | 34,940,000 Yen (+0.6% from Jun. 2016; +13.9% from Jul. 2015) |
Tokyo | 47,860,000 Yen (-0.1%; +12.2%) |
Kanagawa Prefecture | 26,960,000 Yen (+0.1%; +7.2%) |
Saitama Prefecture | 20,560,000 Yen (+1.6%; +8.4%) |
Chiba Prefecture | 18,570,000 Yen (-1.0%; +4.8%) |
Kinki Region | 20,500,000 Yen (+1.3%; +10.8%) |
Osaka | 22,090,000 Yen (+0.2%; +14.8%) |
Hyogo Prefecture | 18,060,000 Yen (+2.1%; +2.4%) |
Chubu Region | 16,110,000 Yen (0.0%; +5.1%) |
Aichi Prefecture | 17,320,000 Yen (+0.5%; +7.9%) |
Apartment asking prices by city:
Tokyo 23 wards | 52,790,000 Yen (-0.2% from Jun. 2016; +10.8% from Jul. 2015) |
Yokohama City | 28,690,000 Yen (-0.8%; +8.2%) |
Saitama City | 23,930,000 Yen (+1.8%; +8.6%) |
Chiba City | 16,900,000 Yen (-2.3%; +2.9%) |
Osaka City | 28,630,000 Yen (+1.1%; +21.7%) |
Kobe City | 18,630,000 Yen (+1.0%; +2.9%) |
Nagoya City | 20,390,000 Yen (-0.9%; +9.2%) |
Apartment asking prices in Tokyo, Osaka and Nagoya:
Tokyo central 6 wards | 71,850,000 Yen (+0.5% from Jun. 2016; +7.3% from Jul. 2015) |
Jyonan, Jyosai 6 wards | 51,830,000 Yen (-0.1%; +4.5%) |
Jyohoku, Jyoto 11 wards | 40,020,000 Yen (-0.3%; +11.2%) |
Osaka central 6 wards | 38,640,000 Yen (+1.6%; +18.9%) |
Nagoya central 3 wards | 25,050,000 Yen (+0.3%; +10.3%) |
About the data:
- Tokyo central 6 wards: 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 wards: 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 prices after negotiations. Click here to read the REINS report about actual sale prices in July.
Source: Tokyo Kantei, August 24, 2016.