Tokyo second-hand apartment sale prices up for 53rd month in a row

According to REINS, 3,461 second-hand apartments were sold across greater Tokyo in February, up 21.0% from the previous month but down 2.2% from last year. The average sale price was 31,520,000 Yen, up 0.4% from the previous month and up 3.5% from last year. This is the 50th month in a  row to see a year-on-year increase. The average price per square meter was 492,900 Yen, down 0.1% from the previous month but up 4.6% from last year. This is the 53rd month in a row to see a year-on-year increase. The average building age was 20.38 years.

In the Tokyo metropolitan area, 1,784 second-hand apartments were sold, up 19.3% from the previous month and up 1.4% from last year. This is the 11th month in a row to see a year-on-year increase in transactions. The average sale price was 38,670,000 Yen, up 1.3% from the previous month and up 4.1% from last year. The average sale price per square meter was 651,300 Yen, up 0.5% from the previous month and up 5.2% from last year.

 

 

Central Tokyo’s 3 wards

 

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 211 second-hand apartments were sold, up 5.5% from the previous month and up 17.2% from last year. This is the 6th month in a row to see a year-on-year increase in transactions and is the highest number of recorded transactions for the month of February seen since record-keeping began in 2008. The number of new listings for the month was down for the 4th month in a row. 1,259 apartments were listed for sale in February, down 8.1% from the previous month and down 9.2% from last year.

The average sale price was 56,790,000 Yen, up 8.2% from the previous month and up 4.1% from last year. The average price per square meter was 1,013,100 Yen, up 1.4% from the previous month but down 0.2% from last year. The average building age was 18.13 years.

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

  • 2017: 211
  • 2016: 180
  • 2015: 187
  • 2014: 173
  • 2013: 163
  • 2012: 141
  • 2011: 148
  • 2010: 122
  • 2009: 109
  • 2008: 101

 

 

Sale prices per square meter:

 

Greater Tokyo: 492,900 Yen +4.6% from Feb. 2016
Tokyo Metropolitan Area 651,300 Yen +5.2%
Chiyoda, Chuo, Minato 1,013,100 Yen -0.2%
Shinagawa, Ota, Meguro,
Setagaya
741,900 Yen +4.0%
Shinjuku, Shibuya, Suginami,
Nakano
851,800 Yen +5.9%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
652,500 Yen +10.7%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
557,500 Yen +2.4%
Saitama Prefecture: 305,100 Yen +1.8%
Saitama City 404,900 Yen +11.8%
Chiba Prefecture: 267,400 Yen -1.5%
Chiba City 267,400 Yen -1.5%
Kanagawa Prefecture: 412,300 Yen +1.0%
Yokohama City 434,300 Yen +4.6%
Kawasaki City 521,400 Yen +2.3%

 

Tokyo Metropolitan Area
No. of sales in February: 1,784 (+19.3% from Jan. 2017; +1.4% from Feb. 2016)
Remaining inventory: 25,688 apartments (14.40 months)
Average sale price: 38,670,000 Yen (+1.3%; +4.1%)
Average sale price per sqm: 651,300 Yen (+0.5%; +5.2%)
Average size: 59.38 sqm
Average building age: 19.28 yrs (+0.45 yrs; +0.64 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in February: 211 (+5.5% from Jan. 2017; +17.2% from Feb. 2016)
Remaining inventory: 3,801 apartments (18.01 months)
Average sale price: 56,790,000 Yen (+8.2%; +4.1%)
Average sale price per sqm: 1,013,100 Yen (+1.4%; -0.2%)
Average size: 56.06 sqm
Average building age: 18.13 yrs (+1.94 yrs; +0.96 yrs)

 

SECOND-HAND HOMES

 

1,173 second-hand homes were sold across greater Tokyo, up 38.5% from the previous month but down 5.9% from last year. The average sale price was 30,830,000 Yen, down 0.7% from the previous month but up 1.2% from last year. The average house size was 106.51 sqm and the average land size was 144.93 sqm. The average building age was 20.52 years.

373 homes were sold in the Tokyo metropolitan area, up 41.3% from the previous month but down 0.5% from last year. The average sale price was 43,500,000 Yen, up 0.2% from the previous month and up 2.0% from last year. The average house size was 105.34 sqm and the average land size was 113.15 sqm. The average building age was 19.38 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 64,760,000 Yen, down 2.4% from the previous month but up 4.4% from last year. The average house size was 105.47 sqm and the average land size was 94.29 sqm. The average building age was 17.21 years.

BRAND NEW HOMES

 

552 brand new homes were sold across greater Tokyo, up 32.1% from the previous month but down 3.7% from last year. The average sale price was 35,160,000 Yen, down 1.8% from the previous month but up 4.1% from last year. The average house size was 99.03 sqm and the average land size was 120.50 sqm.

150 new homes were sold in the Tokyo metropolitan area, up 21.0% from the previous month and up 8.7% from last year. The average sale price was 41,200,000 Yen, down 0.8% from the previous month but up 2.3% from last year. The average house size was 94.44 sqm and the average land size was 106.58 sqm.

LAND

 

476 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, up 16.1% from the previous month but down 14.8% from last year. The average sale price was 188,500 Yen/sqm, down 8.0% from the previous month and down 6.4% from last year.

130 blocks were sold in the Tokyo metropolitan area, up 11.1% from the previous month but down 30.9% from last year. The average sale price was 331,600 Yen/sqm, down 8.8% from the previous month but up 4.5% from last year.

Source: REINS, March 10, 2017.