The Tokyo apartment market is showing all the signs of shifting towards a seller’s market in 2014.
What defines a seller’s market will vary depending on who you talk to, but many suggest it is when there is 3 ~ 9 months of inventory remaining on the market. Other conditions include:
- More buyers than properties for sale? Yes
- Prices are rising? Yes
- Inventory is falling? Yes
- Discounts are shrinking? Yes Read More
Mitsubishi Jisho Residence announced that they will begin sales of apartments in The Parkhouse Grand Chidorigafuchi in early September.
With an average price of 2.4 million Yen/sqm, apartments in The Parkhouse will be the most expensive apartments to be released for sale across Japan since 2008. According to Mitusbishi Jisho’s president, the pricing reflects the premium location of the building and was decided prior to the recent spate of good news about Tokyo’s property market.
International property development group, Grosvenor, will be selling off individual apartments in a luxury residential building adjoining the Roppongi Hills complex.
The Westminster Roppongi (previously named Roppongi Arents) is a 14-storey apartment building that was completed in 2003 – the same time as Roppongi Hills. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and have previously been rented for between 470,000 ~ 2,200,000 Yen per month. Read More
According to real estate listing site Home’s, the average price for a 70sqm apartment less than 10 years old in Minato-ku and Shibuya-ku is approximately 65,500,000~66,800,000 Yen.
Continue reading for details on the average prices for each area in central Tokyo. Read More
Average price: 2,066,000 Yen/sqm
Size range: 52.80 ~ 154.59 sqm (568 ~ 1663 sqft)
Location: Roppongi, Minato-ku
Atlas Tower Roppongi is a 29-storey high-rise condominium located just minutes from Roppongi Hills and Tokyo Midtown. Read More
Second-hand apartment prices are slowly recovering. As they are comparatively cheaper than brand new apartments, demand is returning and the viewpoint that this is no longer the bottom of the market is emerging.
Nagoya’s 7 cities see the highest increase of 2.7%
Real estate information provider, Tokyo Kantei, reported that the average price of a 70sqm apartment in Tokyo’s 23 Wards reached 42.97 million Yen in March, 2010. This is 9% higher than the bottom average price that was recorded in June, 2009.
From Autumn of 2009, Tokyo, Yokohama and Saitama have been showing signs of transitioning into a bullish market. Nagoya’s 7 cities had the largest rate of growth of 2.7% compared to the previous month, with Osaka and Kobe seeing almost no change.