According to Tokyo Kantei, the average asking price of a  70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in October 2016 was 36,210,000 Yen, up 2.6% from the previous month and up 13.3% from last year. This is the 10th 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 48,550,000 Yen, up 1.0% from the previous month and up 8.8% from last year. The average building age was 22.0 years.

In Tokyo’s 23 wards the average asking price was 52,450,000 Yen, down 0.4% from the previous month but up 5.4% from last year.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 70,460,000 Yen, down 2.1% from the previous month but up 1.1% from last year.

In central Osaka, asking prices were down for the 3rd month in a row. Although the decrease may partly be due to an increase in older apartments, the price increase of relatively newer buildings appears to have slowed as prices appear to be peaking out. Central Nagoya, however, saw prices increase for the fourth month in a row.

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Asking prices across Japan:

 

Greater Tokyo 36,210,000 Yen (+2.6% from Sep. 2016; +13.3% from Oct. 2015)
  Tokyo 48,550,000 Yen (+1.0%; +8.8%)
  Kanagawa Prefecture 27,230,000 Yen (0.0%; +8.1%)
  Saitama Prefecture 20,600,000 Yen (-0.7%; +7.1%)
  Chiba Prefecture 19,210,000 Yen (+1.2%; +7.1%)
Kinki Region 20,750,000 Yen (0.0%; +13.1%)
  Osaka 22,570,000 Yen (-0.4%; +13.1%)
  Hyogo Prefecture 18,150,000 Yen (+1.6%; +2.4%)
Chubu Region 16,170,000 Yen (+0.4%; +7.0%)
  Aichi Prefecture 18,020,000 Yen (+1.0%; +9.1%)

 

Apartment asking prices by city:

 

Tokyo 23 wards 52,450,000 Yen (-0.4% from Sep. 2016; +5.4% from Oct. 2015)
Yokohama City 29,220,000 Yen (-0.4%; +8.2%)
Saitama City 24,330,000 Yen (+0.1%+8.4%)
Chiba City 17,770,000 Yen (+3.5%; +6.7%)
Osaka City 28,650,000 Yen (+0.3%; +16.1%)
Kobe City 18,550,000 Yen (+1.5%; +1.3%)
Nagoya City 21,240,000 Yen (+0.5%; +9.8%)

 

Apartment asking prices in Tokyo, Osaka and Nagoya:

 

Tokyo central 6 wards 70,460,000 Yen (-2.1% from Sep. 2016; +1.1% from Oct. 2015)
Jyonan, Jyosai 6 wards 51,070,000 Yen (-1.3%; +1.3%)
Jyohoku, Jyoto 11 wards 39,970,000 Yen (-0.7%; +6.8%)
Osaka central 6 wards 37,570,000 Yen (-1.2%; +13.4%)
Nagoya central 3 wards 25,800,000 Yen (+0.4%; +9.6%)

 

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 October.

Source: Tokyo Kantei, November 24, 2016.

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