According to REINS, the average price per square meter of a secondhand apartment sold in Tokyo City in October was 537,200 Yen, up 10.4% from last year and up 1.7% from the previous month. The average sale price was 32,420,000 Yen, up 6.3% from last year and up 1.4% from last month.

A total of 3,066 secondhand apartments were sold across greater Tokyo, up 11.7% from last year. 1,447 apartments were sold in Tokyo City, up 13.1% from last year.

In Tokyo’s central three wards (Chiyoda, Chuo and Minato), the average sale price per square meter in October was 842,700 Yen, up 12.9% from last year and up 6.0% from the previous month. The average apartment price was 48,800,000 Yen, up 19.6% from last year and up 6.2% from last month. The average apartment size was 58.00 sqm and the average building age was 16.56 years.

Second-hand apartment sales in Tokyo City:

  • No. of sales in October: 1,447 (+13.1% from October 2012; -7.2% from the previous month)
  • Average sale price: 32,420,000 Yen (+6.3%; +1.4%)
  • Average price per sqm: 537,200 Yen (+10.4%; +1.7%)
  • Average size: 60.34 sqm (-3.7%; -0.3%)
  • Average building age: 18.47 years

Second-hand apartment sales in Tokyo’s central 3 wards (Chiyoda, Chuo, Minato):

  • No. of sales in October: 163 (+46.8% from October 2012; -0.5% from the previous month)
  • Average sale price: 48,880,000 Yen (+19.6%; +6.2%)
  • Average price per sqm: 842,700 Yen (+12.9%; +6.0%)
  • Average size: 58.00 sqm (+6.0%; +0.3%)
  • Average building age: 16.56 years

Tokyo Apartment Prices October 2013

SECOND-HAND HOMES

972 second-hand houses were sold in greater Tokyo during October, down 4.9% from last year and down 10.7% from the previous month. The average price was 30,080,000 Yen, up 3.9% from last year and up 1.5% from last month.

The average house size was 105.04 sqm (1130 sqft) and the average land size was 144.55 sqm (1555 sqft). The average house was 20.28 years old.

In Tokyo City, 297 houses were sold, up 2.8% from last year. The average price was 43,150,000 Yen, up 3.2% from last year and up 2.2% from last month.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average house price was 66,600,000 Yen, down 4.3% from last year but up 2.3% from last month.

Second-hand home sales in Tokyo City:

  • No. of sales in October: 297 (+2.8% from October 2012; -3.9% from the previous month)
  • Average sale price: 43,150,000 Yen (+3.2%; +2.2%)
  • Average building age: 18.19 years
  • Average land size: 117.78 sqm (-1.2%; +0.2%)
  • Average house size: 107.35 sqm (-2.8%; +1.7%)

BRAND-NEW HOMES

400 new homes were sold across greater Tokyo during the month, down 16% from last year and down 17.2% from last month. The average sale price was 35,600,000 Yen, up 3.1% from last year and up 4.1% from last month. The average house size was 96.65 sqm (1040 sqft) and the average land size was 111.36 sqm (1198 sqft).

The average sale price in Tokyo City was 43,440,000 Yen, up 8.3% from last year and up 5.1% from last month.

Brand-new home sales in Tokyo City:

  • No. of sales in October: 112 (-23.3% from October 2012; -17.6% from the previous month)
  • Average sale price: 43,440,000 Yen (+8.3%; +5.1%)
  • Average land size: 94.10 sqm (+1.1%; +0.4%)
  • Average house size: 92.05 sqm (+2.8%; +1.3%)

LAND

396 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo in October, down 27.9% from last year and down 27.7% from last month. The average price was 184,700 Yen/sqm, down 4.4% from last year and down 7.5% from last month.

Land sales in Tokyo City:

  • No. of sales in October: 115 (-37.5% from October 2012; -35.0% from the previous month)
  • Average sale price: 45,130,000 Yen (+9.9%; -1.1%)
  • Average price per sqm: 323,800 Yen (+6.1%; -1.6%)
  • Average land size:  139.39 sqm (+3.6%; +0.6%)

Source: REINS, November 11, 2013.

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