According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in greater Tokyo in April was 27,700,000 Yen (272,000 USD), down 0.4% from last month and down 4.3% from April 2012. 

In Tokyo, the average asking price was 36,290,000 Yen (357,000 USD), up 0.1% from last month but down 2.2% from last year. Osaka City is one of the few places that has seen asking prices increase from 12 months ago, with the average price up 1.2% from April 2012. Prices in Osaka’s central 6 wards have increased by 6.8% over the year.

  • Greater Tokyo: 27,700,000 Yen (-0.4% from March; -4.3% from April 2012)
    • Tokyo: 36,290,000 Yen (+0.1%; -2.2%)
    • Kanagawa Prefecture: 23,780,000 Yen (-1.0%; -4.2%)
    • Saitama Prefecture: 17,830,000 Yen (-1.4%; -3.4%)
    • Chiba Prefecture: 17,940,000 Yen (-0.3%; -3.2%)
  • Kinki Region: 18,060,000 Yen (-0.2%; -0.1%)
    • Osaka: 18,460,000 Yen (-0.2%; +0.5%)
    • Hyogo: 18,000,000 Yen (-0.9%; -2.1%)
  • Chubu Region: 14,700,000 Yen (-0.4%; -2.6%)
    • Aichi Prefecture: 15,080,000 Yen (-0.3%; -2.0%)

By city:

  • Tokyo 23-ku: 39,360,000 Yen (+0.4%; -1.5%)
  • Yokohama City: 25,090,000 Yen (-0.8%; -4.6%)
  • Saitama City: 20,580,000 Yen (-2.7%; -2.3%)
  • Chiba City: 17,070,000 Yen (+0.1%; -4.4%)
  • Osaka City: 21,560,000 Yen (-0.3%; +1.2%)
  • Kobe City: 18,440,000 Yen (-0.3%; -4.2%)
  • Nagoya City: 17,220,000 Yen (+0.8%; -2.6%)

Apartment prices in Tokyo’s 23-ku are 16.3% below their previous peak in January 2008. In central Tokyo’s 6-ku (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price in April was 52,620,000 Yen (517,000 USD), up 2.2% from last month and up 0.8% from last year. Despite the recent uptick, prices are still 19.6% below their peak in early 2008.

About the data:

Data is collected from the asking prices of secondhand apartments listed in Tokyo Kantei’s database. For a standard comparison, the average price per square meter is used to calculate the price for a 70 sqm apartment. Apartments below 30sqm are not included, neither are offices or retail spaces

Actual selling prices are typically lower than asking prices, so actual sales figures may be lower.

Source: Tokyo Kantei, May 22, 2013. (PDF)

Loading