Reported transactions of second-hand apartments across greater Tokyo in the third quarter of 2019 reached the highest level seen for this quarter since REINS began recording data in 1990. 

A total of 9,406 apartments were reported to have sold, up 8.3% from the same quarter in 2018 and the fourth consecutive quarter to see a year-on-year increase. Sales in Tokyo’s 23 wards increased by 11.3% to 5,026 units.

The average sale price per square meter was 537,200 Yen, up 3.6% from last year. Sale prices have seen 27 consecutive quarterly increases since 2013.

The number of new listings for the quarter increased by only 1.4% from last year. 

Sales of existing detached homes reached 3,377 units – a 9.7% increase from last year and the fifth quarter in a row to record a year-on-year increase. The average sale price was 31,000,000 Yen, down 1.5% from last year. 

Source: REINS, October 18, 2019.

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