Secondhand apartment transactions down while prices continue to climb
According to REINS, 2,118 second-hand apartments were sold across greater Tokyo in August, down 16.4% from the previous month and down 5.9% from last year. This is the 5th month in a row to see a decline from one year prior.
The average apartment sale price across greater Tokyo was 28,190,000 Yen, up 7.4% from the previous month and up 10.2% from last year. The average price per square meter was 436,900 Yen, up 6.5% from the previous month and up 9.2% from last year. The average building age was 19.47 years.
1,003 apartments were sold in the Tokyo metropolitan area, down 18.3% from the previous month and down 9.2% from last year. This is the 5th month in a row to see a decline from one year prior. The average apartment sale price was 34,870,000 Yen, up 9.0% from the previous month and up 12.7% from last year. The average price per square meter was 587,500 Yen, up 7.8% from the previous month and up 13.1% from last year. The average building age was 18.26 years.
The average sale price in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) was 55,820,000 Yen, up 24.2% from the previous month and up 20.8% from last year. The average price per square meter was 920,200 Yen, up 0.8% from the previous month and up 11.7% from last year. The average building age was 15.38 years.
Average sale prices per square meter were up in a number of locations last month:Read more