Greater Tokyo second-hand apartment prices increase for 71st month in a row

According to REINS, 3,225 second-hand apartments were reported to have sold across greater Tokyo in November, up 4.2% from the previous month and up 11.1% from last year. The average sale price was 32,970,000 Yen, up 0.7% from the previous month and up 2.9% from last year. The average price per square meter was 508,200 Yen, up 0.5% from the previous month and up 1.2% from last year. This is the 71st month in a row to record a year-on-year increase in sale prices.

1,616 second-hand apartments were sold in the Tokyo metropolitan area, up 6.4% from the previous month and up 6.9% from last year. The average sale price was 41,270,000 Yen, up 0.8% from the previous month and up 4.2% from last year. The average price per square meter was 684,700 Yen, up 1.1% from the previous month and up 1.7% from last year.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato the average sale price was 65,080,000 Yen, up 0.5% from the previous month and up 3.4% from last year. The average price per square meter was 1,121,500 Yen, down 1.8% from the previous month but up 1.1% from last year. 187 apartments were reported to have sold, up 13.3% from the previous month but down 0.5% from last year. The average building age was 18.17 years.

Source: REINS, December 10, 2018.