According to REINS, 3,728 second-hand apartments were sold across greater Tokyo in March, up 13.2% from the previous month but down 6.7% from last year. This is the 12th month in a row to see a year-on-year decline.

The average apartment sale price was 29,230,000 Yen, down 0.1% from the previous month but up 9.7% from last year. The average price per square meter was 453,100 Yen, up 0.7% from the previous month and up 8.7% from last year. The average building age was 19.47 years.

1,843 second-hand apartments were sold in the Tokyo metropolitan area, up 17.2% from the previous month but down 7.1% from last year. The average sale price was 35,580,000 Yen, down 2.3% from the previous month but up 10.6% from last year. The average price per square meter was 601,900 Yen, down 0.7% from the previous month but up 11.1% from last year. The average building age was 18.58 years.

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 230 apartments were sold, up 23.0% from the previous month and up 0.4% from last year. This is the highest level for March seen since record keeping began in 2008.

This content is available to paid subscribers only.

Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,100 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.

To join our paid subscription service and access over 3,100 news articles on Japan's real estate market, please register here.

Already a paid member? Log-in using your details below.