Wondering where Tokyo apartment prices are heading in the next 7 years?
The Japan Real Estate Institute has published their forecast of real estate prices and rental values in Tokyo’s 23 wards from 2013 to 2020.
An increase in demand prior to the increase in consumption tax rates, and a better economy due to Abenomics, means that new condominium prices are predicted to increase by 2% in 2013 to an average of 792,000 Yen/sqm.
Rental prices are expected to increase by 3% over the year.
Prices are predicted to fall 3% following a drop in demand after consumption taxes are increased.
Rental prices are expected to increase by 2%.
Prices are again predicted to increase 2% prior to the second increase in consumption tax.
Rental prices are expected to increase by 1%.
Prices are predicted to fall by about 1% following the second tax hike.
Rental prices are expected to increase and return to levels last seen in 2010.
2017 – 2020
New apartment prices and rental values are expected to largely remain stable, but may show a slight upwards trend.
About the data:
- Forecasts are based on data collected from AtHome and Ken Corporation.
- New apartment data is based on apartments sized between 40 and 80 sqm (430 ~ 860 sqft).
Source: Jutaku Shimpo Sha, June 4, 2013.
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