Tokyo apartment sale prices increase for 50th month

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According to REINS, 2,985 second-hand apartments were sold across greater Tokyo in November, down 10.6% from the previous month but up 0.5% from last year. The average sale price was 31,730,000 Yen, up 1.2% from the previous month and up 8.8% from last year. The average price per square meter was 496,800 Yen, up 2.3% from the previous month and up 8.0% from last year. This is the 50th month in a row to see a year-on-year increase. The average building age was 20.27 years.

In the Tokyo metropolitan area, 1,553 second-hand apartments were sold, down 7.7% from the previous month but up 3.5% from last year. The average sale price was 39,190,000 Yen, up 2.4% from the previous month and up 8.5% from last year. The average price per square meter was 660,300 Yen, up 3.4% from the previous month and up 6.6% from last year. The average building age was 19.12 years.

Central Tokyo’s 3 wards

 

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 205 second-hand apartments were sold, up 6.2% from the previous month and up 10.2% from last year. This is the highest number of transactions recorded for the month of November since record-keeping began in 2008, and is close to double the number of transactions seen in 2009 and 2011.

The average sale price was 57,690,000 Yen, down 1.6% from the previous month but up 7.3% from last year. The average price per square meter was 1,027,900 Yen, up 0.7% from the previous month and up 2.2% from last year. The average building age was 17.32 years.

New listings in central Tokyo were down 0.2% from last year. This is the first time in two years that the number of new listings has decreased from 12 month’s prior.

Past transactions in central Tokyo’s 3 wards in November:

  • 2016: 205
  • 2015: 186
  • 2014: 147
  • 2013: 176
  • 2012: 126
  • 2011: 105
  • 2010: 125
  • 2009: 102
  • 2008: 116

 

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Sale prices per square meter:

 

Greater Tokyo: 496,800 Yen +8.0% from Nov. 2015
Tokyo Metropolitan Area 660,300 Yen +6.6%
Chiyoda, Chuo, Minato 1,027,900 Yen +2.2%
Shinagawa, Ota, Meguro,
Setagaya
733,500 Yen +1.9%
Shinjuku, Shibuya, Suginami,
Nakano
895,700 Yen +9.9%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
615,800 Yen +2.0%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
561,600 Yen +8.6%
Saitama Prefecture: 291,400 Yen +7.4%
Saitama City 373,000 Yen +15.5%
Chiba Prefecture: 267,700 Yen +2.8%
Chiba City 253,400 Yen +10.1%
Kanagawa Prefecture: 412,400 Yen +7.3%
Yokohama City 432,800 Yen +11.6%
Kawasaki City 487,000 Yen +3.5%

 

Tokyo Metropolitan Area
No. of sales in November: 1,553 (-7.7% from Oct. 2016; +3.5% from Nov. 2015)
Remaining inventory: 25,641 apartments (16.51 months)
Average sale price: 39,190,000 Yen (+2.4%; +8.5%)
Average sale price per sqm: 660,300 Yen (+3.4%; +6.6%)
Average size: 59.35 sqm
Average building age: 19.12 yrs (+0.32 yrs; -0.15 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in November: 205 (+6.2% from Oct. 2016; +10.2% from Nov. 2015)
Remaining inventory: 3,911 apartments (19.08 months)
Average sale price: 57,690,000 Yen (-1.6%; +7.3%)
Average sale price per sqm: 1,027,900 Yen (+0.7%; +2.2%)
Average size: 56.13 sqm
Average building age: 17.32 yrs (+2.68 yrs; -0.87 yrs)

 

SECOND-HAND HOMES

 

1,026 second-hand homes were sold across greater Tokyo, down 10.9% from the previous month and down 8.6% from last year. The average sale price was 30,160,000 Yen, down 1.4% from the previous month but up 3.4% from last year. The average house size was 103.76 sqm and the average land size was 143.74 sqm. The average building age was 20.94 years.

332 second-hand homes were sold in the Tokyo metropolitan area, down 5.4% from the previous month but up 0.9% from last year. The average sale price was 43,700,000 Yen, down 0.4% from the previous month but up 7.9% from last year. The average house size was 102.28 sqm and the average land size was 110.16 sqm. The average building age was 19.29 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 70,120,000 Yen, up 3.5% from the previous month and up 16.3% from last year. The average house size was 109.82 sqm and the average land size was 99.94 sqm. The average building age was 14.86 years.

BRAND NEW HOMES

 

479 brand new homes were sold across greater Tokyo, up 11.7% from the previous month and up 18.0% from last year. The average sale price was 35,440,000 Yen, down 2.1% from the previous month but up 5.5% from last year. The average house size was 98.22 sqm and the average land size was 119.13 sqm.

133 new homes were sold in the Tokyo metropolitan area, up 3.1% from the previous month and up 9.0% from last year. The average sale price was 42,040,000 Yen, down 3.1% from the previous month but up 10.2% from last year. The average house size was 94.36 sqm and the average land size was 106.58 sqm.

LAND

 

458 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, down 10.9% from the previous month and down 17.9% from last year. The average sale price was 178,200 Yen/sqm, down 8.7% from the previous month and down 1.0% from last year.

119 blocks were sold in the Tokyo metropolitan area, down 19.0% from the previous month and down 17.9% from last year. The average sale price was 283,200 Yen/sqm, down 20.9% from the previous month and down 11.1% from last year.

Source: REINS, December 12, 2016.