Market Snapshot

A brief rundown of the real estate market in Tokyo.

*Last updated July 20, 2018.

Apartments:

RESALE MARKET

Greater Tokyo:

  • 3,317 apartments sold in Jun. ’18, down 0.5% from Jun. ’17.
  • Average price: 519,000 Yen/m², up 5.0% from Jun. ’17.

 

Tokyo Metropolitan Area:

  • 1,667 apartments sold in Jun. ’18, down 4.7% from Jun. ’17.
  • Average price: 690,000 Yen/m², up 6.1% from Jun. ’17.

 

Chiyoda, Chuo and Minato-ku:

  • 225 apartments sold in Jun. ’18, down 1.7% from Jun. ’17.
  • Average price: 1,103,800 Yen/m², up 9.8% from Jun. ’17.

NEW CONSTRUCTION

Greater Tokyo:

  • 1,756 new apartments sold in Jun. ’18.
  • Average price: 928,000 Yen/m², up 10.5% from Jun. ’17.

 

Tokyo’s 23 wards:

  • 1,064 new apartments sold in Jun. ’18.
  • Average price: 1,187,000 Yen/m², up 11.4% from Jun. ’17.

Residential rental market:

  • Average monthly rent in greater Tokyo: 2,744 Yen/sqm, up 4.8% from Jun. ’17.
  • Average monthly rent in Tokyo’s 23 wards: 3,485 Yen/sqm, up 5.9% from Jun. ’17.
  • Average gross yield in Tokyo: 5.8% in Jul. ’18.
  • Average gross yield in Minato-ku: 4.1% in Jul. ’18.

Office market:

  • Vacancy rate in Chiyoda, Chuo, Minato, Shinjuku and Shibuya-ku: 2.57% in Jun. ’18, down 0.69 points from Jun. ’17.
  • Average monthly office rent: 20,108 Yen/Tsubo (6,093 Yen/sqm), up 6.6% from Jun. ’17.

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