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According to  REINS, 2,993 second-hand apartments were sold across greater Tokyo in December, up 0.3% from the previous month and up 17.7% from December 2015. This is the fourth month in a row to see an increase in transactions from 12 months prior. The average sale price was 31,220,000 Yen, down 1.6% from the previous month but up 9.0% from the previous year. The average price per square meter was 497,800 Yen, up 0.2% from the previous month and up 9.5% from the previous year. This is the 51st month in a row to see a year-on-year increase. The average building age was 20.73 years.

In the Tokyo metropolitan area 1,542 second-hand apartments were sold, down 0.7% from the previous month but up 19.8% from the previous year. This is the 9th month in a row to see a year-on-year increase in transactions. The average sale price was 39,080,000 Yen, down 0.3% from the previous month but up 9.3% from the previous year. The average price per square meter was 670,200 Yen, up 1.5% from the previous month and up 9.9% from the previous year. The average building age was 19.37 years.

In the last quarter of 2016, 129 apartments priced over 100 million Yen were reported to have sold in the Tokyo metropolitan area, up 41.8% from the last quarter of 2015, and a record for the year of 2016. Total sales for the 2016 year were up 20.8% from 2015 and almost four times the number of transactions in 2011.

 

Central Tokyo’s 3 wards

 

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) 230 second-hand apartments were sold, up 12.2% from the previous month and up 45.6% from the previous year. This is the highest number of recorded transaction for the month of December since record-keeping began in 2008, and is double the average seen between 2008 and 2012.

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

  • 2016: 230
  • 2015: 158
  • 2014: 152
  • 2013: 171
  • 2012: 116
  • 2011: 114
  • 2010: 123
  • 2009: 98
  • 2008: 105

The average sale price was 58,270,000 Yen, up 1.0% from the previous month and up 8.8% from 2015. The average price per square meter was 1,043,500 Yen, up 1.5% from the previous month and up 7.8% from 2015. The average building age was 16.54 years.

New listings for the month in central Tokyo were down 2% from 2015. This is the second month in a row to record a year-on-year decrease.

Remaining inventory has dropped to 16.3 months, which is the lowest level seen since August 2015. In our experience this level of inventory indicates a sellers market in central Tokyo.

 

 

Sale prices per square meter:

 

Greater Tokyo: 497,800 Yen +9.5% from Dec. 2015
Tokyo Metropolitan Area 670,200 Yen +9.9%
Chiyoda, Chuo, Minato 1,043,500 Yen +7.8%
Shinagawa, Ota, Meguro,
Setagaya
746,300 Yen +3.1%
Shinjuku, Shibuya, Suginami,
Nakano
817,700 Yen +9.6%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
632,300 Yen +7.4%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
562,800 Yen +5.3%
Saitama Prefecture: 286,600 Yen +2.6%
Saitama City 350,400 Yen +0.1%
Chiba Prefecture: 276,900 Yen +13.2%
Chiba City 232,600 Yen +0.5%
Kanagawa Prefecture: 401,200 Yen +7.0%
Yokohama City 420,700 Yen +7.8%
Kawasaki City 504,600 Yen +4.3%

 

Tokyo Metropolitan Area
No. of sales in December: 1,542 (-0.7% from Nov. 2016; +19.8% from Dec. 2015)
Remaining inventory: 25,579 apartments (16.59 months)
Average sale price: 39,080,000 Yen (-0.3%; +9.3%)
Average sale price per sqm: 670,200 Yen (+1.5%; +9.9%)
Average size: 58.31 sqm
Average building age: 19.37 yrs (+0.25 yrs; -0.63 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in December: 230 (+12.2% from Nov. 2016; +45.6% from Dec. 2015)
Remaining inventory: 3,744 apartments (16.28 months)
Average sale price: 58,270,000 Yen (+1.0%; +8.0%)
Average sale price per sqm: 1,043,500 Yen (+1.5%; +7.8%)
Average size: 55.84 sqm
Average building age: 16.54 yrs (-0.78 yrs; -3.36 yrs)

 

SECOND-HAND HOMES

 

957 second-hand homes were sold across greater Tokyo, down 6.7% from the previous month but up 3.2% from 2015. The average sale price was 29,880,000 Yen, down 0.9% from the previous month but up 1.4% from 2015. The average house size was 105.86 sqm and the average land size was 153.58 sqm. The average building age was 21.01 years.

277 homes were sold in the Tokyo metropolitan area, down 16.6% from the previous month but up 2.6% from 2015. The average sale price was 40,110,000 Yen, down 8.2% from the previous month but up 0.4% from 2015. The average house size was 101.66 sqm and the average land size was 117.21 sqm. The average building age was 19.72 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 66,870,000 Yen, down 4.6% from the previous month and down 13.0% from 2015. The average house size was 113.71 sqm and the average land size was 91.81 sqm. The average building age was 17.31 years.

BRAND NEW HOMES

 

331 brand new homes were sold across greater Tokyo, down 30.9% from the previous month but up 8.9% from 2015. The average sale price was 37,120,000 Yen, up 4.7% from the previous month and up 6.7% from 2015. The average house size was 98.25 sqm and the average land size was 120.58 sqm.

102 new homes were sold in the Tokyo metropolitan area, down 23.3% from the previous month and down 4.7% from 2015. The average sale price was 43,470,000 Yen, up 3.4% from the previous month and up 9.5% from 2015. The average house size was 94.84 sqm and the average land size was 103.58 sqm.

LAND

 

490 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, up 7.0% from the previous month and up 17.8% from 2015. The average sale price per square meter was 195,300 Yen, up 9.6% from the previous month and up 6.3% from 2015.

141 blocks were sold in the Tokyo metropolitan area, up 18.5% from the previous month and up 34.3% from 2015. The average sale price per square meter was 345,100 Yen, up 21.8% from the previous month and up 10.4% from last year.

Source: REINS, January 16, 2017.

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