Secondhand apartment prices in October 2014 – Tokyo Kantei

Apartment price Japan October 2014

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 42,560,000 Yen in October, up 0.9% from the previous month and up 4.7% from last year. Asking prices have increased by 8.1% over the past 2 years. The average building age was 22.3 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 60,180,000 Yen, up 1.7% from the previous month and up 10.3% from last year. The average price has increased by 18.0% over the past 2 years. The average building age was 21.7 years.

The average price across greater Tokyo was 28,480,000 Yen, up 0.9% from the previous month and up 1.0% from last year. The average building age was 21.8 years.

Prices in greater Tokyo have been largely pulled up by the price increases seen in the Tokyo metropolitan area.

Greater Tokyo 28,480,000 Yen (+0.9% from September; +1.0% from October 2013)
  Tokyo 38,500,000 Yen (+1.3%; +3.6%)
  Kanagawa Prefecture 24,370,000 Yen (+0.4%; +0.6%)
  Saitama Prefecture 18,630,000 Yen (+0.0%; +0.5%)
  Chiba Prefecture 18,250,000 Yen (-0.8%; +2.1%)
Kinki Region 18,040,000 Yen (-0.6%; -0.7%)
  Osaka 18,360,000 Yen (-0.4%; -2.3%)
  Hyogo Prefecture 17,660,000 Yen (-1.0%; -0.5%)
Chubu Region 14,760,000 Yen (+0.3%; +0.4%)
  Aichi Prefecture 15,440,000 Yen (+0.5%; +1.4%)

While prices remain relatively flat in other major cities across Japan, the gap is widening in Tokyo where prices continue to rise. Prices in Osaka have begun to show a gradual decline.

Apartment asking prices by city:

Tokyo 23-ku 42,560,000 Yen (+0.9% from September; +4.7% from October 2013)
Yokohama City 25,690,000 Yen (+0.2%; +1.0%)
Saitama City 21,150,000 Yen (+0.8%; -1.8%)
Chiba City 17,090,000 Yen (-2.6%; +1.1%)
Osaka City 21,750,000 Yen (-0.6%; -1.3%)
Kobe City 17,940,000 Yen (-1.5%; +2.0%)
Nagoya City 17,960,000 Yen (+1.0%; +3.5%)

Apartment price Japan October 2014 2

The rate of increase in Tokyo’s central 6 wards has expanded since July. Other areas in Tokyo have also seen an increase, although not at the same pace as central Tokyo. This is leading to a greater gap between prices within Tokyo’s 23 wards.

Apartment asking prices in Tokyo, Osaka and Nagoya:

Tokyo central 6 wards 60,180,000 Yen (+1.7% from September; +10.3% from October 2013)
Jyonan, Jyosai 6 wards 45,000,000 Yen (+0.4%; +3.0%)
Jyohoku, Jyoto 11 wards 32,840,000 Yen (+1.1%; +3.1%)
Osaka central 6 wards 28,150,000 Yen (-1.7%; -1.9%)
Nagoya central 6 wards 22,800,000 Yen (+1.8%; +12.5%)

Apartment price Japan October 2014 3

About the data:

  • Tokyo central 6 wards: Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya.
  • Jyonan, Jyosai 6 wards: Shinagawa, Meguro, Ota, Setagaya, Nakano, Suginami.
  • Jyohoku, Jyoto 11 wards: All other wards in Tokyo.
  • Osaka central 6 wards: Fukushima, Nishi, Tennoji, Naniwa, Kita, Chuo.
  • Nagoya central 3 wards: Naka, Higashi, Chikusa.

The data above is based on advertised prices which may be higher than actual prices after negotiations. Click here to read the REINS report about actual sale prices in October.

Source: Tokyo Kantei, November 20, 2014.

 1,074 total views,  6 views today