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.

Past transactions in February:

  • 2008: 101 sales
  • 2009: 109 sales
  • 2010: 122 sales
  • 2011: 148 sales
  • 2012: 141 sales
  • 2013: 163 sales
  • 2014: 173 sales
  • 2015: 187 sales

Remaining inventory was down 1.1% from last year, and indicates a remaining supply of 11.3 months.

The average sale price was 53,410,000 Yen, up 11.2% from the previous month and up 11.3% from last year. The average price per square meter was 991,100 Yen, up 6.2% from the previous month and up 14.8% from last year. The average building age was 15.56 years.

Sale prices per square meter:

Greater Tokyo: 450,000 Yen +8.0% from February 2014
Tokyo Metropolitan Area 605,900 Yen +11.3%
Chiyoda, Chuo, Minato 991,100 Yen +14.8%
Shinagawa, Ota, Meguro,
Setagaya
704,700 Yen +12.4%
Shinjuku, Shibuya, Suginami,
Nakano
775,800 Yen +14.9%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
598,900 Yen +10.0%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
493,200 Yen +5.3%
Saitama Prefecture: 282,300 Yen +0.7%
Saitama City 358,200 Yen +17.6%
Chiba Prefecture: 254,900 Yen +7.4%
Chiba City 230,300 Yen -1.5%
Kanagawa Prefecture: 389,300 Yen +4.9%
Yokohama City 400,000 Yen +2.6%
Kawasaki City 487,600 Yen +12.9%

 

Tokyo Metropolitan Area
No. of sales in February: 1,572 (+31.8% from January; -4.1% from Feb. 2014)
Remaining inventory: 17,382 apartments (11.1 months)
Average sale price: 36,410,000 Yen (+9.6%; +10.7%)
Average sale price per sqm: 605,900 Yen (+6.8%; +11.3%)
Average size: 60.08 sqm
Average building age: 18.37 yrs (-0.52 yrs; +0.22 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in February: 187 (+50.8% from January; +8.1% from Feb. 2014)
Remaining inventory: 2,104 apartments (11.3 months)
Average sale price: 53,410,000 Yen (+11.2%; +11.3%)
Average sale price per sqm: 991,100 Yen (+6.2%; +14.8%)
Average size: 53.89 sqm
Average building age: 15.56 yrs (-3.17 yrs; -0.34 yrs)

SECOND-HAND HOMES

1,046 second-hand homes were sold across greater Tokyo, up 38.0% from the previous month and up 6.3% from last year. This is the first time in 13 months to see a year-on-year increase in sales. The average sale price was 31,730,000 Yen, up 3.9% from the previous month and up 5.3% from last year. The average house size was 106.82 sqm and the average land size was 138.81 sqm. The average building age was 19.84 years.

In the Tokyo metropolitan area, 335 homes were sold, up 46.9% from the previous month and up 12.8% from last year. The average sale price was 45,910,000 Yen, up 1.6% from the previous month and up 5.5% from last year. The average house size was 110.22 sqm and the average land size was 116.31 sqm. The average building age was 18.59 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 64,980,000 Yen, down 7.1% from the previous month and down 1.3% from last year. The average house size was 113.91 sqm and the average land size was 92.95 sqm. The average building age was 16.02 years.

BRAND NEW HOME SALES

451 brand new homes were sold across greater Tokyo, up 17.4% from the previous month and up 26.7% from last year. The average sale price was 33,420,000 Yen, down 3.9% from the previous month and down 4.0% from last year. The average house size was 97.79 sqm and the average land size was 119.79 sqm.

86 homes were sold in the Tokyo metropolitan area, up 14.7% from the previous month but down 4.4% from last year. The average sale price was 43,310,000 Yen, up 2.1% from the previous month and up 2.1% from last year. The average house size was 93.33 sqm and the average land size was 98.81 sqm.

LAND

405 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, up 35.0% from the previous month and up 4.1% from last year. The average sale price was 184,000 Yen/sqm, up 1.7% from the previous month but down 7.2% from last year.

103 blocks of land in the Tokyo metropolitan area were sold, up 35.5% from the previous month but down 5.5% from last year. The average sale price was 298,500 Yen/sqm, down 15.0% from the previous month and down 12.8% from last year.

Source: REINS, March 10, 2015.

Loading