Archive For The “Market Information” Category

Tokyo office rents increase for 45th consecutive month

Tokyo office rents increase for 45th consecutive month

According to Miki Shoji, the average monthly office rent in central Tokyo’s five business districts reached 18,995 Yen per Tsubo (approx. 5,747 Yen/sqm) in September, an increase of 3.59% from last year and the 45th month in a row to record a year-on-year increase. The average is still 17% below the recent record high of…

New apartment prices in greater Tokyo increase for 6th month in a row

New apartment prices in greater Tokyo increase for 6th month in a row

According to the Real Estate Economic Institute, 2,978 brand new apartments were released for sale across greater Tokyo in September, up 41.7% from the previous month but down 13.0% from last year. Back in 2013, as many as 5,970 new apartments were released for sale in the month of September. The average sale price was 58,240,000…

Average rent drops for 3rd consecutive month in Tokyo

Average rent drops for 3rd consecutive month in Tokyo

In September, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,287 Yen/sqm, down 0.2% from the previous month and down 2.4% from last year. This is the 3rd month in a row to record a year-on-year drop in rents and the lowest level seen in the past 12 months.

Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter

Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter

Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft). 

Tokyo apartment sale prices increase for 60th consecutive month

Tokyo apartment sale prices increase for 60th consecutive month

According to REINS, 3,222 second-hand apartments were sold across greater Tokyo in September, up 42.3% from the previous month and up 2.3% from last year. The average sale price was 32,260,000 Yen, down 0.3% from the previous month but up 3.2% from last year. The average price per square meter was 506,700 Yen, up 0.3%…

Tokyo apartment sales in September 2017

Tokyo apartment sales in September 2017

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2017:

Double-income households supporting property prices

According to the NLI Research Institute, the number of households in Japan with a total annual income of over 7 million Yen (approx. 62,000 USD) reached 250,000 in 2016, an increase of 20% since 2013. While wage growth remains sluggish, the growing number of women entering the workforce has pushed up household incomes. The White Paper…

Forecast of new apartment prices between 2017 and 2025

Forecast of new apartment prices between 2017 and 2025

According to the latest medium-term forecast by the Japan Real Estate Institute (JREI), the average price of a brand new apartment in Tokyo’s 23 wards is forecast to see annual growth rates of between 0.3 ~ 0.8% up until 2020 before starting to see a very slight year-on-year decline from 2021 onwards.

Average asking price of an apartment in Tokyo up 1.1% from last year

Average asking price of an apartment in Tokyo up 1.1% from last year

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,660,000 Yen in August 2017, up 0.1% from the previous month and up 1.3% from last year. Prices continue to remain stable in the 35 million Yen range since November 2016. The average building…

Standard land prices in Tokyo increase for 5th year in a row, while nationwide commercial prices increase for first time in 10 years

Standard land prices in Tokyo increase for 5th year in a row, while nationwide commercial prices increase for first time in 10 years

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT), announced the Standard Land Prices on September 19th. In the Tokyo metropolitan area, land prices across all uses increased by 3.0% from last year, recording the fifth consecutive increase in land prices. Commercial land prices in Tokyo’s 23 wards increased by an average of 5.9%, after…

Go Top