Greater Tokyo second-hand apartment prices increase for 72nd month in a row

According to REINS, 2,987 second-hand apartments were reported to have sold across greater Tokyo in December 2018, down 7.4% from the previous month and down 0.8% from the previous year. The average sale price was 33,800,000 Yen, up 2.5% from the previous month and up 1.8% from 2017. The average price per square meter was 524,100 Yen, up 3.1% from the previous month and up 0.9% from 2017. This is the 72nd month in a row to record a year-on-year increase in sale prices. 

1,541 second-hand apartments were sold in the Tokyo metropolitan area, down 4.6% from the previous month and down 2.9% from 2017. The average sale price was 41,010,000 Yen, down 0.6% from the previous month and down 0.8% from 2017. The average price per square meter was 681,600 Yen, down 0.5% from the previous month and down 1.1% from 2017. 

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, the average sale price was 60,470,000 Yen, down 7.1% from the previous month and down 4.2% from 2017. The average price per square meter was 1,109,100 Yen, down 1.1% from the previous month and down 0.7% from 2017. The average age of a building sold was 18.73 years, 3.05 years older than the average in December 2017.

A total of 194 apartments were reported to have sold, up 3.7% from the previous month but down 5.8% from 2017. New listings for the month were down 18.2% from the previous month and down 3.2% from 2017.

100 million Yen + sales

There were 142 reported sales of apartments priced over 100 million Yen across greater Tokyo in the 4th quarter of 2018, a 3.6% increase from the same period in 2017. A total of 599 apartments over 100 million Yen were sold in 2018, up 15.6% from 2017 and the highest year on record. 

Source: REINS, January 15, 2019.

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