New apartment price to income ratios Tokyo

According to Tokyo Kantei, the average price of a brand new apartment in Japan in 2013 was 6.59 times the average annual income (up 0.06 points fro 2012), while a second-hand apartment (10 years old) was 4.58 times times the average income (up 0.02 points from 2012).

The rise in apartment prices has outpaced the increase in average income. The average annual income across Japan increased by 3.85% from the previous year to 4,320,000 Yen in 2013.

Meanwile, the average price of a 70 sqm second-hand apartment in Japan was 19,800,000 Yen in 2013, up 4.38%. The average price of a brand-new apartment nationwide was 28,620,000 Yen, up 5.07% from the year before.

In greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba Prefectures), the price-to-income ratio of brand new apartments was 8.80 times (+0.06 points). The ratio for second-hand apartments actually fell 0.05 points to 6.07 times. 

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