Apartment transactions down for 6th month

According to REINS, 2,938 apartments were sold across greater Tokyo in September, up 38.7% from the previous month but down 5.9% from last year. This is the 6th month in a row to see a decline from one year prior. The average apartment sale price across greater Tokyo was 27,500,000 Yen, down 2.5% from the previous month but up 3.6% from last year. The average price per square meter was 424,600 Yen, down 2.8% from the previous month but up 3.7% from last year. The average building age was 19.81 years.

1,425 apartments were sold in the Tokyo metropolitan area, up 42.1% from the previous month but down 8.6% from last year. This is the 6th month in a row to see a decline from one year prior. The average apartment sale price was 33,780,000 Yen, down 3.1% from the previous month but up 5.7% from last year. The average price per square meter was 568,200 Yen, down 3.3% from the previous month but up 7.6% from last year. The average building age was 18.72 years.

Sale prices per square meter:

  • Greater Tokyo: 424,600 Yen (+3.7% from last year)
    • Tokyo Metropolitan Area: 568,200 Yen (+7.6%)
    • Chiyoda, Chuo, Minato: 901,000 Yen (+13.3%)
    • Shinagawa, Ota, Meguro, Setagaya: 652,300 Yen (+5.7%)
    • Shinjuku, Shibuya, Suginami, Nakano: 736,300 Yen (+8.5%)
    • Bunkyo, Toshima, Kita, Itabashi, Nerima: 560,400 Yen (+12.9%)
    • Taito, Koto, Edogawa, Sumida, Katsushika, Adachi, Arakawa: 488,500 Yen (+6.9%)
  • Saitama Prefecture: 252,700 Yen (-1.7%)
    • Saitama City: 329,600 Yen (+1.7%)
  • Chiba Prefecture: 251,500 Yen (+6.4%)
    • Chiba City: 239,800 Yen (+6.4%)
  • Kanagawa Prefecture: 371,500 Yen (+1.6%)
    • Yokohama City: 381,800 Yen (-0.5%)
    • Kawasaki City: 459,300 Yen (+5.2%)
Tokyo Metropolitan Area
No. of sales in September: 1,425 (+41.1% from August; -8.6% from Sept. 2013)
Remaining inventory: 17,378 apartments (12.2 months)
Average sale price: 33,780,000 Yen (-3.1%; +5.7%)
Average sale price per sqm: 568,200 Yen (-3.3%; +7.6%)
Average size: 59.45 sqm
Average building age: 18.72 yrs (+0.46 yrs; +0.58 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in September: 151 (+32.5% from August; -12.2% from Sept. 2013)
Remaining inventory: 1,914 apartments (12.7 months)
Average sale price: 48,890,000 Yen (-12.4%; +6.3%)
Average price per sqm: 901,000 Yen (-2.1%; +13.3%)
Average size: 54.26 sqm
Average building age: 17.53 yrs (+2.15 yrs; -0.21 yrs)

SECONDHAND HOMES

966 secondhand homes were sold across greater Tokyo, up 26.9% from the previous month but down 11.3% from last year. The average sale price was 29,800,000 Yen, up 3.1% from the previous month and up 0.5% from last year. The average house size was 107.73 sqm and the average land size was 156.13 sqm. The average building age was 20.78 years.

In the Tokyo metropolitan area, 286 secondhand homes were sold, up 25.4% from the previous month but down 7.4% from last year. The average sale price was 44,500,000 Yen, up 6.2% from the previous month and up 5.4% from last year. The average house size was 110.48 sqm and the average land size was 125.02 sqm. The average building age was 19.57 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 66,810,000 Yen, up 14.8% from the previous month and up 2.6% from last year. The average house size was 113.93 sqm and the average land size was 102.16 sqm. The average building age was 18.65 years.

BRAND NEW HOME SALES

431 brand new homes were sold across greater Tokyo, up 18.4% from the previous month but down 10.8% from last year. This is the 12th month in a row to see a decline from one year prior. The average sale price was 33,720,000 Yen, up 0.4% from the previous month but down 1.4% from last year. The average house size was 97.23 sqm and the average land size was 118.61 sqm.

98 new homes were sold in the Tokyo metropolitan area, up 12.6% from the previous month but down 27.9% from last year. The average sale price was 40,690,000 Yen, down 1.5% from the previous month and down 1.5% from last year. The average house size was 92.01 sqm and the average land size was 95.52 sqm.

LAND

441 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, up 13.4% from the previous month but down 19.5% from last year. The average sale price was 195,600 Yen/sqm, down 2.7% from the previous month and down 2.0% from last year.

In the Tokyo metropolitan area, 124 blocks of land were sold, up 9.7% from the previous month but down 29.9% from last year. The average sale price was 325,500 Yen/sqm, down 1.2% from the previous month and down 1.1% from last year.

Source: REINS, October 10, 2014.

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