Tokyo second-hand apartment sales up 8.5% in June

According to REINS, a total of 3,490 second-hand apartments were reported to have sold across greater Tokyo in June, up 27% from the previous month and up 5.2% from last year. The average sale price was 33,610,000 Yen, up 1.1% from the previous month and up 1.3% from last year. The average price per square meter was 527,500 Yen, up 1.8% from the previous month and up 1.6% from last year. This is the 5th month in a row to see a year-on-year increase. The average age of an apartment sold was 21.96 years.

In the Tokyo metropolitan area, 1,809 apartments had sold, up 28% from the previous month and up 8.5% from last year. This is the 5th month in a row to see a year-on-year increase in reported transactions. The average sale price was 41,510,000 Yen, up 0.7% from the previous month and up 0.6% from last year. The average price per square meter was 697,400 Yen, up 1.3% from the previous month and up 1.1% from last year. The average apartment size was 59.52 sqm (640 sq.ft) and the average building age was 21.16 years.

The number of new listings dropped for the second month in a row with 1.4% fewer listings than seen in June 2018.

In the second quarter of 2019, there were 146 reported sales of apartments priced over 100 million Yen, up 13.2% from last year.

Central Tokyo’s 3 wards

Central Tokyo’s 3 wards of Chiyoda, Chuo and Minato had 209 reported sales in June, up 30.6% from the previous month but down 7.1% from last year. The average sale price was 65,850,000 Yen, up 13.0% from the previous month and up 10.3% from last year. The average price per square meter was 1,140,700 Yen, up 4.6% from the previous month and up 3.3% from last year. The average apartment size was 57.73 sqm (621 sq.ft) and the average building age was 18.53 years.

Source: REINS, July 10, 2019.

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