Central Tokyo apartment transactions reach record high for February
According to REINS, 3,292 second-hand apartments were sold across greater Tokyo in February, up 34.9% from the previous month but down 0.6% from last year. This is the 11th month in a row to see a year-on-year decline, although the rate of decline is the lowest seen so far.
The average apartment sale price was 29,260,000 Yen, up 4.6% from the previous month and up 8.7% from last year. The average price per square meter was 450,000 Yen, up 2.9% from the previous month and up 8.0% from last year. The average building age was 19.33 years.
1,572 second-hand apartments were sold in the Tokyo metropolitan area, up 31.8% from the previous month but down 4.1% from last year. The average sale price was 36,410,000 Yen, up 9.6% from the previous month and up 10.7% from last year. The average price per square meter was 605,900 Yen, up 6.8% from the previous month and up 11.3% from last year. The average building age was 18.37 years.
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 187 apartments were sold, up 50.8% from the previous month and up 8.1% from last year. This is the highest number of transactions in February since REINS began recording data in 2008.Read more