Archive For The “Market Information” Category

Sendai apartment prices reach record high

In 2016 the average price of a brand new apartment in the greater Sendai area reached 44,427,000 Yen, an increase of 5.1% from 2015 and the highest level to be recorded since data-keeping began in 1988. The average apartment size was 75.64 sqm (814 sq ft).
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All, Market Information, Real Estate News

New apartment prices in Tokyo up 25% in January

According to the Real Estate Economic Institute, 1,384 new apartments were released for sale across greater Tokyo in January, down 80.2% from the previous month and down 7.4% from last year. 852 apartments were sold, resulting in a contract ratio of 61.6%, down 15 points from the previous month but up 3.0 points from last year.

167 apartments in high-rise buildings (over 20 stories) were released for sale, up 122.7% from last year. The contract ratio was 77.8%, up 45.8 points from last year.

The average price of a new apartment across greater Tokyo was 69,110,000 Yen, up 36.1% from the previous month and up 24.1% from last year. The average price per square meter was 976,000 Yen, up 29.3% from the previous month and up 25.0% from last year. (more…)

All, Market Information, Real Estate News, Tokyo

Tokyo second-hand apartment sale prices increase for 52nd month in a row

According to REINS, 2,861 second-hand apartments were sold across greater Tokyo in January 2017, down 4.4% from the previous month but up 7.8% from January 2016. This is the 5th month in a row to see an increase in transactions from 12 months prior. The average sale price was 31,380,000 Yen, up 0.5% from the previous month and up 5.1% from last year. The average price per square meter was 493,500 Yen, down 0.9% from the previous month but up 5.4% from last year. This is the 52nd month in a row to see a year-on-year increase. The average building age was 20.20 years.

In the Tokyo metropolitan area, 1,495 second-hand apartments were sold, down 3.1% from the previous month but up 15.7% from last year. This is the 10th month in a row to see a year-on-year increase in transactions. The average sale price was 38,180,000 Yen, down 2.3% from the previous month but up 2.9% from last year. The average price per square meter was 647,800 Yen, down 3.3% from the previous month but up 2.3% from last year. The average building age was 18.83 years.

 

 

Central Tokyo’s 3 wards

 

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 200 second-hand apartments were sold, down 13.0% from the previous month but up 17.6% from last year. This is the 5th month in a row to see a year-on-year increase in transactions. This is the highest number of recorded transactions for the month of January since record-keeping began in 2008, and is double the average seen between 2008 and 2012. The number of new listings were also down for the 3rd month in a row, with 1,370 apartments listed for sale in January 2017, down 5.1% from last year.

The average sale price was 52,500,000 Yen, down 9.9% from the previous month but up 0.9% from last year. The average price per square meter was 998,800 Yen, down 4.3% from the previous month and down 0.3% from last year. The average building age was 16.19 years.

Past transactions in central Tokyo’s 3 wards in January:

  • 2017: 200
  • 2016: 170
  • 2015: 124
  • 2014: 162
  • 2013: 140
  • 2012: 100
  • 2011: 114
  • 2010: 100
  • 2009: 88
  • 2008: 90

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All, Market Information, Real Estate News, Tokyo

Less than 2% of apartments in Tokyo are over 110 sqm

According to research firm MRC, less than 2% of the apartments built for sale in Tokyo’s 23 wards between 2002 and 2016 were over 110 square meters (1,184 sq ft) in size. Almost 80% of apartments supplied were below 80 sqm (861 sq ft) in size.

The typical size of a 3-Bedroom apartment is around 70 sqm (753 sq ft). Buyers looking for spacious apartments over 100 sqm will find supply incredibly limited. Prices, too, will be comparatively high since apartments over 100 sqm are considered to be luxury-grade and are often only found on upper floors or in high-end buildings. (more…)

All, Market Information, Real Estate News, Tokyo

Tokyo Apartment Sales in January 2017

The following is a selection of apartments that were sold in central Tokyo during the month of January 2017: (more…)

All, Market Information, Real Estate News, Tokyo

Outlook for Greater Tokyo’s new apartment market in 2017

The Real Estate Economic Institute released a report on potential trends for the new apartment market in greater Tokyo for this coming year.

Supply

The supply of brand new apartments is expected to reach 38,000 units in greater Tokyo, up 6.4% from 2016 and the first time in four years to see an increase in supply. It is still below the level of 56,478 units released for sale in 2013. In 2016, supply was down 11.7% from 2015. (more…)

All, Market Information, Real Estate News, Tokyo

New apartment prices in Kyoto reach record high in 2016

The average price of a new apartment in Kyoto City increased for the sixth year in a row, reaching 52,960,000 Yen in 2016. The city is the second most expensive region in Japan for new apartments, with Tokyo’s 23 wards in top place with an average price of 66,290,000 Yen in 2016.

Prices have been pushed up by several factors, including increasing construction costs, fierce competition between developers looking for sites for hotels, and growing demand from out-of-town buyers. (more…)

All, Kyoto, Market Information, Real Estate News

Tokyo apartment asking prices in December 2016

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo was 35,680,000 Yen in December 2016, up 0.6% from the previous month and up 9.1% from 2015. The average building age was 22.5 years.

In the Tokyo metropolitan area, the average asking price was 48,380,000 Yen, up 0.6% from the previous month and up 4.7% from 2015. The average building age was 22.0 years.

In Tokyo’s 23 wards, the average asking price was 53,280,000 Yen, up 0.9% from the previous month and up 3.6% from 2015. The average building age was 21.9 years. This is the highest level seen since record-keeping began in 1997.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,100,000 Yen, up 0.6% from the previous month and up 2.3% from 2015. The average building age was 20.0 years.

(more…)

All, Market Information, Nagoya, Osaka, Real Estate News, Tokyo

Second-hand apartment transactions reach record high in 2016

REINS released their annual report on transaction data for greater Tokyo in 2016. The key points from the report are:

Second-hand apartments:

  • Transactions increased for the second year in a row and reached a record high.
  • Average sale price exceeded 30 million Yen for the first time in 22 years.
  • Average sale prices per square meter increased for the fourth year in a row.

(more…)

All, Market Information, Real Estate News

New apartment supply in greater Tokyo reaches 24-year low

The supply of new apartments in greater Tokyo in 2016 reached a 24-year low with 35,772 apartments offered for sale. This represented a decrease of 11.6% from 2015 and was the lowest level seen since 1992. Developers have been restricting supply amidst rising construction costs, rising land prices and stagnant wages of potential buyers. Development sites in prime locations once earmarked for residential are being converted to office and hotel projects which can provide better returns.

Existing properties that have been renovated are now proving popular with buyers who would have once only considered buying new, which is putting further pressure on new apartment sales. In fact, a record high number of second-hand apartments sold in greater Tokyo in 2016. There were 37,189 reported sales, up 6.9% from 2015. Second-hand apartment sales exceeded new apartment sales by over 50%.

The average contract ratio for the year was 68.8%, which is below the 70% line said to indicate positive market conditions, and is the lowest ratio seen since 2009. (more…)

All, Market Information, Real Estate News, Tokyo
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