Market Snapshot

A brief rundown of the real estate market in Tokyo.

*Last updated May 14, 2018.

Apartments:

RESALE MARKET

Greater Tokyo:

  • 3,819 apartments sold in Mar. ’18, up 2.7% from Mar. ’17.
  • Average price: 521,100 Yen/m², up 5.7% from Mar. ’17.

 

Tokyo Metropolitan Area:

  • 1,984 apartments sold in Mar. ’18, up 1.8% from Mar. ’17.
  • Average price: 702,100 Yen/m², up 8.1% from Mar. ’17.

 

Chiyoda, Chuo and Minato-ku:

  • 277 apartments sold in Mar. ’18, up 14.5% from Mar. ’17.
  • Average price: 1,097,900 Yen/m², up 3.9% from Mar. ’17.

NEW CONSTRUCTION

Greater Tokyo:

  • 2,701 new apartments sold in Mar. ’18.
  • Average price: 907,000 Yen/m², up 14.8% from Mar. ’17.

 

Tokyo’s 23 wards:

  • 1,070 new apartments sold in Mar. ’18.
  • Average price: 1,103,000 Yen/m², up 13.9% from Mar. ’17.

Residential rental market:

  • Average monthly rent in greater Tokyo: 2,760 Yen/sqm, up 4.0% from Apr. ’17.
  • Average monthly rent in Tokyo’s 23 wards: 3,517 Yen/sqm, up 5.9% from Apr. ’17.
  • Average gross yield in Tokyo: 5.8% in May ’18.
  • Average gross yield in Minato-ku: 4.2% in May ’18.

Office market:

  • Vacancy rate in Chiyoda, Chuo, Minato, Shinjuku and Shibuya-ku: 2.65% in Apr. ’18, down 0.74 points from Apr. ’17.
  • Average monthly office rent: 19,896 Yen/Tsubo (6,029 Yen/sqm), up 6.0% from Apr. ’17.

Data sources:
Homes
Miki Shoji
Real Estate Economic Institute
REINS
Tokyo Kantei