According to REINS, 2,497 second-hand apartments were sold across greater Tokyo in December 2014, down 11.8% from the previous month and down 13.9% from December 2013. This is the 9th month in a row to see a year-on-year decline.
The average apartment sale price was 28,470,000 Yen, up 1.4% from the previous month and up 11.2% from the previous year. The average price per square meter was 448,700 Yen, up 1.6% from the previous month and up 10.9% from the previous year. The average building age was 19.85 years.
1,250 second-hand apartments were sold in the Tokyo Metropolitan Area, down 12.6% from the previous month and down 12.1% from the previous year. The average sale price was 35,070,000 Yen, up 2.9% from the previous month and up 12.7% from the previous year. The average price per square meter was 593,400 Yen, up 3.1% from the previous month and up 10.7% from the previous year. The average building age was 18.93 years.
Luxury sales are rising in the metropolitan area with 79 apartments priced over 100 million Yen selling in the 4th quarter of 2014, up 31.7% from the same quarter in 2013.
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), the average sale price was 57,310,000 Yen, up 15.4% from the previous month and up 28.5% from the previous year. The average price per square meter was 998,600 Yen/sqm, up 3.3% from the previous month and up 19.6% from the previous year. It has now exceeded the level seen in January 2008 when REINS began keeping records for central Tokyo sale prices.