According to REINS, 3,994 secondhand apartments were sold across greater Tokyo in March, up 20.6% from the previous month and up 4.3% from March 2013. The average sale price was 26,650,000 Yen, down 1.0% from February but up 2.7% from last year.

The average price per square meter was 416,600 Yen, down 200 Yen from February but up 4.9% from last year. The average apartment age was 19.40 years and the average apartment size was 63.96 sqm (688 sqft).

The Tokyo Metropolitan area saw 1,983 apartments sold, up 20.9% from February and up 6.1% from last year. 

The average sale price in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) was 48,760,000 Yen, up 1.6% from the previous month and up 5.8% from last year. The average price per square meter was 883,200 Yen, up 2.3% from the previous month and up 11.1% from last year. The average apartment age was 14.37 years and the average apartment size was 55.20 sqm (594 sqft).

In the first quarter of 2014, 4,938 apartments were sold in the Tokyo metropolitan area, up 5.4% from the same period in 2013. 62 apartments priced over 100 million Yen were sold in the quarter, up 47.6% from 2013.

Tokyo Metropolitan Area:

  • No. of sales in March: 1,983 (+20.9% from February; +6.1% from March 2013)
  • Average sale price: 32,180,000 Yen (-2.1%; +0.9%)
  • Average price per sqm: 541,600 Yen (-0.5%; +4.7%)
  • Average size: 59.41 sqm (-1.6%; -3.6%)
  • Average building age: 18.42 years (+0.27 yrs; +0.55 yrs)

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

  • No. of sales in March: 229 (+32.4%; +11.2%)
  • Average sale price: 48,760,000 Yen (+1.6%; +5.8%)
  • Average price per sqm: 883,200 Yen (+2.3%; +11.1%)
  • Average size: 55.20 sqm (-0.6%; -4.8%)
  • Average building age: 14.37 years (-1.53 yrs; -0.56 yrs)

SECONDHAND HOME SALES

1,205 secondhand homes were sold across greater Tokyo in March, up 22.5% from February but down 5.9% from last year. The average sale price was 29,350,000 Yen, down 2.6% from the previous month and down 1.0% from last year. The average house size was 103.50 sqm and the average land size was 142.14 sqm. The average building age was 20.24 years.

In the Tokyo metropolitan area, 366 houses were sold, up 23.2% from the previous month but down 7.6% from last year. The average sale price was 40,840,000 Yen, down 6.2% from the previous month but up 0.5% from last year. The average house size was 102.05 sqm and the average land size was 112.67 sqm. The average building age was 18.50 years.

In the first quarter of 2014, 932 secondhand homes were sold, down 3.3% from the same quarter in 2013. 29 homes priced over 100 million Yen were sold, up 16% from last year.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 57,630,000 Yen, down 12.5% from the previous month and down 4.5% from last year. The average house size was 104.28 sqm and the average land size was 85.36 sqm. The average building age was 16.60 years.

BRAND NEW HOME SALES

408 brand new homes were sold across greater Tokyo, up 14.6% from the previous month but down 17.4% from last year. The average sale price was 34,850,000 Yen, up 0.1% from the previous month and up 2.8% from last year. The average house size was 97.13 sqm and the average land size was 113.49 sqm.

110 new homes were sold in the Tokyo metropolitan area, up 22.2% from the previous month but down 30.4% from last year. The average sale price was 41,740,000 Yen, down 1.6% from the previous month but up 6.8% from last year. The average house size was 93.01 sqm and the average land size was 95.48 sqm.

LAND

544 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, up 39.8% from the previous month but down 15.3% from last year. The average sale price was 197,100 Yen/sqm, down 0.6% from the previous month and down 2.4% from last year.

In the Tokyo metropolitan area, 146 blocks of land were sold, up 33.9% from the previous month but down 29.5% from last year. The average sale price was 322,400 Yen/sqm, down 5.8% from the previous month but up 0.1% from last year.

Source: REINS, April 10, 2014.

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