Tokyo apartment sale prices increase for 57th month

According to REINS, 3,333 second-hand apartments were sold across greater Tokyo in June, up 11.7% from the previous month and up 8.6% from last year. The average sale price was 31,620,000 Yen, down 0.3% from the previous month but up 4.8% from last year. The average price per square meter was 496,100 Yen, up 0.2% from the previous month and up 3.8% from last year. This is the 54th month in a row to record a year-on-year increase in sale prices. The average building age was 21.07 years.

In the Tokyo metropolitan area 1,750 second-hand apartments were sold, up 14.2% from the previous month and up 10.5% from last year. The average sale price was 38,640,000 Yen, down 1.7% from the previous month but up 3.2% from last year. The average sale price per square meter was 650,600 Yen, down 1.5% from the previous month but up 1.3% from last year. This is the 57th month in a row to record a year-on-year increase in sale prices. The average building age was 20.00 years.

Sales over 100 million Yen

In the second quarter of 2017, 119 second-hand apartments priced over 100 million Yen were sold in the Tokyo metropolitan area, up 24% from the same period in 2016. There were 227 reported sales for the first half of 2017, up 20.1% from the first half of 2016.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, 229 apartments were sold, up 12.3% from the previous month and up 10.6% from last year. This is the 10th month in a row to see a year-on-year increase in transactions and is the highest number of reported transactions for the month of June seen since record-keeping began in 2008.

The number of new listings was down for the 8th month in a row with 1,191 apartments listed for sale in June, down 12.1% from last year.

The average sale price was 55,780,000 Yen, down 7.4% from the previous month but up 7.5% from last year. The average price per square meter was 1,005,300 Yen, down 5.3% from the previous month but up 1.0% from last year. The average building age was 17.90 years.

Remaining inventory was down 2.2% from the previous month and down 9.8% from last year. This is the 4th month in a row to see a year-on-year drop in inventory levels.

 

Sale prices per square meter:

Greater Tokyo: 496,100 Yen +3.8% from Jun. 2016
Tokyo Metropolitan Area 650,600 Yen +1.3%
Chiyoda, Chuo, Minato 1,005,300 Yen +1.0%
Shinagawa, Ota, Meguro,
Setagaya
755,900 Yen +0.6%
Shinjuku, Shibuya, Suginami,
Nakano
815,700 Yen +3.1%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
622,200 Yen +5.1%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
558,400 Yen -0.4%
Saitama Prefecture: 293,700 Yen +4.6%
Saitama City 383,900 Yen +7.6%
Chiba Prefecture: 269,000 Yen +6.7%
Chiba City 253,600 Yen +7.3%
Kanagawa Prefecture: 418,600 Yen +5.0%
Yokohama City 444,500 Yen +4.5%
Kawasaki City 509,100 Yen -2.7%

 

Tokyo Metropolitan Area
No. of sales in June: 1,750 (+14.2% from May 2017; +10.6% from Jun. 2016)
Remaining inventory: 24,641 apartments (14.08 months)
Average sale price: 38,640,000 Yen (-1.7%; +3.2%)
Average sale price per sqm: 650,600 Yen (-1.5%; +1.3%)
Average size: 59.40 sqm
Average building age: 20.00 yrs (+0.54 yrs; +0.76 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in June: 229 (+12.3% from May 2017; +10.6% from Jun. 2016)
Remaining inventory: 3,486 apartments (15.22 months)
Average sale price: 55,780,000 Yen (-7.4%; +7.5%)
Average sale price per sqm: 1,005,300 Yen (-5.3%; +1.0%)
Average size: 55.48 sqm
Average building age: 17.90 yrs (+1.17 yrs; +0.93 yrs)

 

SECOND-HAND HOMES

1,103 second-hand homes were sold across greater Tokyo, up 0.4% from the previous month but down 2.5% from last year. The average sale price was 29,370,000 Yen, down 3.4% from the previous month but up 0.6% from last year. The average house size was 105.58 sqm and the average land size was 155.17 sqm. The average building age was 20.47 years.

324 homes were sold in the Tokyo metropolitan area, down 11.2% from the previous month but up 1.3% from last year. The average sale price was 42,560,000 Yen, up 1.0% from the previous month and up 1.7% from last year. The average house size was 100.86 sqm and the average land size was 110.90 sqm. The average building age was 18.81 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 61,160,000 Yen, down 1.8% from the previous month but up 2.1% from last year. Transactions were up 26.2% from last year. The average house size was 99.96 sqm and the average land size was 90.47 sqm. The average building age was 18.50 years.

BRAND NEW HOMES

456 brand new homes were sold across greater Tokyo, down 1.7% from the previous month but up 5.6% from last year. The average sale price was 37,220,000 Yen, up 3.1% from the previous month and up 2.3% from last year. The average house size was 98.08 sqm and the average land size was 115.78 sqm.

150 new homes were sold in the Tokyo metropolitan area, up 10.3% from the previous month and up 15.4% from last year. This is the 6th month in a row to record a year-on-year increase in transactions. The average sale price was 43,440,000 Yen, up 0.3% from the previous month but down 0.7% from last year. The average house size was 93.52 sqm and the average land size was 99.10 sqm.

LAND

585 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, up 16.8% from the previous month and up 15.6% from last year. The average sale price was 201,500 Yen/sqm, up 1.3% from the previous month and up 9.0% from last year.

180 blocks of land were sold in the Tokyo metropolitan area, up 28.6% from the previous month and up 32.4% from last year. The average sale price was 345,800 Yen/sqm, down 2.0% from the previous month but up 5.0% from last year.

Source: REINS, July 10, 2017.