Tokyo second-hand apartment sale prices increase for 52nd month in a row

According to REINS, 2,861 second-hand apartments were sold across greater Tokyo in January 2017, down 4.4% from the previous month but up 7.8% from January 2016. This is the 5th month in a row to see an increase in transactions from 12 months prior. The average sale price was 31,380,000 Yen, up 0.5% from the previous month and up 5.1% from last year. The average price per square meter was 493,500 Yen, down 0.9% from the previous month but up 5.4% from last year. This is the 52nd month in a row to see a year-on-year increase. The average building age was 20.20 years.

In the Tokyo metropolitan area, 1,495 second-hand apartments were sold, down 3.1% from the previous month but up 15.7% from last year. This is the 10th month in a row to see a year-on-year increase in transactions. The average sale price was 38,180,000 Yen, down 2.3% from the previous month but up 2.9% from last year. The average price per square meter was 647,800 Yen, down 3.3% from the previous month but up 2.3% from last year. The average building age was 18.83 years.

 

 

Central Tokyo’s 3 wards

 

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 200 second-hand apartments were sold, down 13.0% from the previous month but up 17.6% from last year. This is the 5th month in a row to see a year-on-year increase in transactions. This is the highest number of recorded transactions for the month of January since record-keeping began in 2008, and is double the average seen between 2008 and 2012. The number of new listings were also down for the 3rd month in a row, with 1,370 apartments listed for sale in January 2017, down 5.1% from last year.

The average sale price was 52,500,000 Yen, down 9.9% from the previous month but up 0.9% from last year. The average price per square meter was 998,800 Yen, down 4.3% from the previous month and down 0.3% from last year. The average building age was 16.19 years.

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

  • 2017: 200
  • 2016: 170
  • 2015: 124
  • 2014: 162
  • 2013: 140
  • 2012: 100
  • 2011: 114
  • 2010: 100
  • 2009: 88
  • 2008: 90

 

 

Sale prices per square meter:

 

Greater Tokyo: 493,500 Yen +5.4% from Jan. 2016
Tokyo Metropolitan Area 647,800 Yen +2.3%
Chiyoda, Chuo, Minato 998,800 Yen -0.3%
Shinagawa, Ota, Meguro,
Setagaya
737,800 Yen +7.5%
Shinjuku, Shibuya, Suginami,
Nakano
832,800 Yen -0.4%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
624,200 Yen +5.9%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
555,200 Yen +1.0%
Saitama Prefecture: 296,200 Yen +2.9%
Saitama City 385,100 Yen +14.5%
Chiba Prefecture: 263,500 Yen +4.2%
Chiba City 257,000 Yen +14.8%
Kanagawa Prefecture: 422,100 Yen +4.5%
Yokohama City 422,500 Yen -0.8%
Kawasaki City 526,500 Yen +12.2%

 

Tokyo Metropolitan Area
No. of sales in January: 1,495 (-3.1% from Dec. 2016; +15.7% from Jan. 2016)
Remaining inventory: 25,726 apartments (17.21 months)
Average sale price: 38,180,000 Yen (-2.3%; +2.9%)
Average sale price per sqm: 647,800 Yen (-3.3%; +2.3%)
Average size: 58.93 sqm
Average building age: 18.83 yrs (-0.54 yrs; -0.25 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in January: 200 (-13.0% from Dec. 2016; +17.6% from Jan. 2016)
Remaining inventory: 3,806 apartments (19.03 months)
Average sale price: 52,500,000 Yen (-9.9%; +0.9%)
Average sale price per sqm: 998,800 Yen (-4.3%; -0.3%)
Average size: 52.56 sqm
Average building age: 16.19 yrs (-0.35 yrs; -0.57 yrs)

 

SECOND-HAND HOMES

 

847 second-hand homes were sold across greater Tokyo, down 11.5% from the previous month and down 12.6% from last year. The average sale price was 31,030,000 Yen, up 3.9% from the previous month but down 0.4% from last year. The average house size was 104.76 sqm and the average land size was 143.40 sqm. The average building age was 20.57 years.

264 homes were sold in the Tokyo metropolitan area, down 4.7% from the previous month and down 9.9% from last year. The average sale price was 43,420,000 Yen, up 8.3% from the previous month but down 0.4% from last year. The average house size was 102.51 sqm and the average land size was 115.45 sqm. The average building age was 18.80 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 66,360,000 Yen, down 0.8% from the previous month but up 3.5% from last year. The average house size was 111.37 sqm and the average land size was 107.45 sqm. The average building age was 17.43 years.

BRAND NEW HOMES

 

418 brand new homes were sold across greater Tokyo, up 26.3% from the previous month and up 19.4% from last year. The average sale price was 35,800,000 Yen, down 3.6% from the previous month but up 7.3% from last year. The average house size was 98.68 sqm and the average land size was 120.94 sqm.

124 new homes were sold in the Tokyo metropolitan area, up 21.6% from the previous month and up 45.9% from last year. The average sale price was 41,520,000 Yen, down 4.5% from the previous month but up 4.5% from last year. The average house size was 95.22 sqm and the average land size was 111.57 sqm.

LAND

 

410 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, down 16.3% from the previous month and down 0.5% from last year. The average sale price was 205,000 Yen/sqm, up 5.0% from the previous month and up 12.1% from last year.

117 blocks were sold in the Tokyo metropolitan area, down 17.0% from the previous month but up 10.4% from last year. The average sale price was 363,700 Yen/sqm, up 5.4% from the previous month and up 19.4% from last year.

Source: REINS, February 10, 2017.