Secondhand apartment prices in December 2014 – Tokyo Kantei

For the first time in three years, the average asking price of a secondhand apartment in greater Tokyo has increased from the previous year. According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in greater Tokyo in 2014 was 28,510,000 Yen, up 2.1% from 2013. In Tokyo’s 23-ku, the average price in 2014 was 42,030,000 Yen, up 5.2% from 2013. It is now 6.3% below the peak seen during the last mini-bubble in 2008.

Prices in December

The average asking price in Tokyo’s 23 wards was 43,790,000 Yen in December, up 1.1% from the previous month and up 7.7% from December 2013. The average building age was 22.2 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 61,970,000 Yen, up 1.1% from the previous month and up 12.8% from the previous year. The average building age was 21.4 years.

The average price across greater Tokyo was 29,870,000 Yen in December, up 0.5% from the previous month and up 2.3% from the previous year.

Apartment asking prices across Japan:

Greater Tokyo 28,970,0000 Yen (+0.5% from Nov.; +2.3% from Dec. 2013)
  Tokyo 39,470,000 Yen (+1.3%; +6.0%)
  Kanagawa Prefecture 24,410,000 Yen (-0.6%; +0.2%)
  Saitama Prefecture 18,530,000 Yen (-0.2%; -0.1%)
  Chiba Prefecture 18,320,000 Yen (-0.3%; -1.2%)
Kinki Region 18,060,000 Yen (-0.4%; -0.5%)
  Osaka 18,420,000 Yen (-0.5%; -1.3%)
  Hyogo Prefecture 17,490,000 Yen (-0.9%; -1.6%)
Chubu Region 14,990,000 Yen (+0.1%; +0.1%)
  Aichi Prefecture 15,670,000 Yen (+0.3%; +0.4%)

 

Apartment asking prices by city:

Tokyo 23-ku 43,790,000 Yen (+1.1% from Nov.; +7.7% from Dec. 2013)
Yokohama City 25,810,000 Yen (-0.3%; +1.4%)
Saitama City 21,220,000 Yen (+0.7%-0.2%)
Chiba City 16,730,000 Yen (-2.4%; -4.0%)
Osaka City 21,980,000 Yen (-0.2%; +0.1%)
Kobe City 17,580,000 Yen (-0.9%; -1.3%)
Nagoya City 18,250,000 Yen (-0.1%; +2.2%)

Japan apartment price Dec 2014

Apartment asking prices in Tokyo, Osaka and Nagoya:

Tokyo central 6 wards 61,970,000 Yen (+1.1% from Nov.; +12.8% from Dec. 2013)
Jyonan, Jyosai 6 wards 45,980,000 Yen (+0.9%; +4.4%)
Jyohoku, Jyoto 11 wards 33,750,000 Yen (+1.7%; +4.9%)
Osaka central 6 wards 28,820,000 Yen (+0.7%; +0.7%)
Nagoya central 6 wards 23,040,000 Yen (-0.5%; +10.9%)

Tokyo Osaka Nagoya apartment price Dec 2014

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 December.

Source: Tokyo Kantei, January 22, 2015.

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