According to REINS, 2,638 secondhand apartments were sold across greater Tokyo in May, down 5.3% from the previous month and down 14.2% from May 2013. This is the second month in a row where transaction numbers have fallen below levels seen 12 months prior. 

The average apartment sale price across greater Tokyo was 26,560,000 Yen, down 1.2% from the previous month but 3.3% higher than last year. The average price per square meter was 413,400 Yen, down 2.5% from the previous month but up 3.1% from last year. The average building age was 19.82 years.

In the Tokyo Metropolitan area, 1,282 apartments were sold in May, down 5.9% from the previous month and down 16.2% from last year. The average apartment sale price was 32,340,000 Yen, down 4.0% from the previous month but up 4.5% from last year. The average price per square meter was 543,800 Yen, down 5.2% from the previous month but up 5.3% from last year. The average building age was 18.52 years.

The average sale price in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) was 46,820,000 Yen, down 2.8% from the previous month but up 6.6% from last year. The average price per square meter was 850,700 Yen, down 5.1% from the previous month but up 8.4% from last year. The average building age was 16.42 years.

Tokyo Metropolitan Area
No. of sales in May: 1,282 (-5.9% from April, -16.2% from May 2013)
Remaining inventory: 17,409 apartments (13.6 months)
Average sale price: 32,340,000 Yen (-4.0%; +4.5%)
Average sale price per sqm: 543,800 Yen (-5.2%; +5.3%)
Average size: 59.48 sqm (+1.2%; -0.8%)
Average building age: 18.52 yrs (+0.2 yrs; +0.12 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in May: 125 (-19.9%; -23.8%)
Remaining inventory: 1,976 apartments (15.8 months)
Average sale price: 46,820,000 Yen (-2.8%; +6.6%)
Average price per sqm: 850,700 Yen (-5.1%; +8.4%)
Average size: 55.04 sqm (+2.5%; -1.6%)
Average building age: 16.42 yrs (-0.08 yrs; -0.7 yrs)

 

SECONDHAND HOMES

886 secondhand homes were sold across greater Tokyo, down 4.4% from the previous month and down 13.2% from last year. The average sale price was 28,050,000 Yen, down 4.0% from the previous month and down 0.1% from last year. The average house size was 104.16 sqm (-2.0% from the previous month and -1.0% from last year) and the average land size was 148.56 sqm (+4.4% from the previous month but -4.5% from last year). The average building age was 20.66 years.

In the Tokyo metropolitan area, 246 homes were sold, down 4.7% from the previous month and down 9.9% from last year. The average sale price was 37,570,000 Yen, down 11.0% from the previous month and down 5.1% from last year. The average house size was 102.66 sqm (-4.2% from the previous month and -2.4% from last year) and the average land size was 111.78 sqm (-0.8% from the previous month and -0.7% from last year). The average building age was 19.02 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 60,630,000 Yen, up 2.1% from the previous month but down 4.0% from last year. The average house size was 111.48 sqm (+2.1% from the previous month but -5.8% from last year) and the average land size was 92.64 sqm (-1.1% from the previous month and -9.5% from last year). The average building age was 18.83 years.

BRAND NEW HOME SALES

362 brand new homes were sold across greater Tokyo in May, up 2.3% from the previous month but down 11.7% from last year. This is the 8th month in a row to see a year-on-year decline in transactions. The average sale price was 34,550,000 Yen, down 0.9% from the previous month and down 0.4% from last year. The average house size was 96.42 sqm (-3.9% from the previous month but +1.5% from last year) and the average land size was 114.90 sqm (-3.6% from the previous month but +6.6% from last year).

89 new homes were sold in the Tokyo metropolitan area, down 15.2% from the previous month and down 32.6% from last year. This is the 10th month in a row to see a year-on-year decline. The average sale price was 39,500,000 Yen, down 2.8% from the previous month but up 1.3% from last year. The average house size was 88.86 sqm (-5.7% from the previous month and -2.3% from last year) and the average land size was 99.54 sqm (+1.6% from the previous months and +4.7% from last year).

LAND

387 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, down 5.1% from the previous month and down 20.7% from last year. The average sale price was 194,800 Yen/sqm, up 0.2% from the previous month but down 2.6% from last year.

In the Tokyo metropolitan area, 110 blocks of land were sold, down 0.9% from the previous month and down 22.5% from last year. The average sale price was 328,500 Yen, up 0.3% from the previous month but down 4.1% from last year.

Source: REINS, June 10, 2014.

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