Secondhand apartment sales in February – REINS

According to REINS, 3,311 second-hand apartments were sold across greater Tokyo in February, up 23.2% from January but down 0.2% from February 2013. This is the first time in 18 months where the number of apartment sales have been lower than they were 12 months prior.

The Tokyo Metropolitan area was the only area to record an increase in year-on-year sales, while Kanagawa Prefecture recorded a 6.6% drop in sales figures.

The average sale price was 26,930,000 Yen, up 0.7% from the previous month and up 6.4% from last year. The average price per square meter was 416,800 Yen, up 0.3% from the previous month and up 7.8% from last year. The average apartment age was 19.25 years.

The average sale price in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) was 47,980,000 Yen, down 1.5% from the previous month but up 9.7% from last year. The average price per square meter was 863,700 Yen, down 1.1% from the previous month but up 13.1% from last year. The average apartment age was 15.90 years.

Tokyo Metropolitan area:

  • No. of sales in February: 1,640 (+24.7% from January; +3.9% from last year)
  • Average sale price: 32,880,000 Yen (+0.3%; +5.9%)
  • Average price per sqm: 544,500 Yen (-0.1%; +7.3%)
  • Average size: 60.38 sqm (+0.4%; -1.3%)
  • Average building age: 18.15 years (-0.23 yrs; +0.82 yrs)

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato):

  • No. of sales in February: 173 (+6.8%; +6.1%)
  • Average sale price: 47,980,000 Yen (-1.5%; +9.7%)
  • Average price per sqm: 863,700 Yen (-1.1%; +13.1%)
  • Average size: 55.56 sqm (-0.4%; -3.1%)
  • Average building age: 15.90 years (-0.13 yrs; +0.66 yrs)

SECONDHAND HOME SALES

984 second-hand homes were sold across greater Tokyo, up 10.9% from January but down 6.4% from last year. The average sale price was 30,130,000 Yen, up 4.4% from the previous month and up 1.0% from last year. The average house size was 105.36 sqm and the average land size was 145.41 sqm. The average building age was 20.24 years.

In the Tokyo metropolitan area, 297 houses were sold, up 10.4% from January but down 13.7% from last year. The average sale price was 43,520,000 Yen, up 13.0% from the previous month and up 8.5% from last year. The average house size was 105.48 sqm and the average land size was 119.75 sqm. The average building age was 19.69 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 65,850,000 Yen, up 7.2% from January and up 29.7% from last year. The average house size was 106.86 sqm and the average land size was 99.33 sqm. The average building age was 17.63 years.

BRAND-NEW HOME SALES 

356 brand new homes were sold across greater Tokyo, down 4.3% from January and down 33.2% from last year. The average sale price was 34,800,000 Yen, down 0.3% from the previous month but up 5.4% from last year. The average house size was 96.96 sqm and the average land size was 115.96 sqm.

90 new homes were sold in the Tokyo metropolitan area, up 21.6% from the previous month but down 39.2% from last year. The average sale price was 42,420,000 Yen, up 1.0% from the previous month and up 5.4% from last year. The average house size was 91.33 sqm and the average land size was 97.44 sqm.

LAND

398 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, up 24.7% from the previous month but down 10.2% from last year. The average sale price was 198,200 Yen/sqm, up 3.3% from the previous month and up 1.8% from last year.

In the Tokyo metropolitan area, 109 blocks of land were sold, up 38% from the previous month but down 18.7% from last year. The average sale price was 342,300 Yen/sqm, down 4.2% from the previous month but up 8.5% from last year.

Source: REINS, March 10, 2014.

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