Secondhand apartment transactions up for first time in 13 months
According to REINS, 2,808 second-hand apartments were sold across greater Tokyo in April, down 24.7% from the previous month but up 0.8% from last year. This is the first time in 13 months to see an increase in transactions from the year before. February and March are typically the busiest months of the year for sales, so it is not surprising to see transactions down from March.
The average apartment sale price was 28,280,000 Yen, down 3.2% from the previous month but up 5.2% from last year. The average price per square meter was 445,500 Yen, down 1.7% from the previous month but up 5.1% from last year. The average building age was 20.11 years.
1,377 apartments were sold in the Tokyo metropolitan area, down 25.3% from March but up 1.0% from April 2014. This is also the first time in 13 months to see a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, down 1.9% from the previous month but up 3.6% from last year. The average price per square meter was 597,400 Yen, down 1.9% from the previous month but up 3.6% from last year. The average building age was 18.95 years.
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 158 apartments were sold, down 31.3% from the previous month but up 1.3% from last year. The average sale price was 53,600,000 Yen, down 1.3% from the previous month but up 11.3% from last year. The average price per square meter was 996,800 Yen, up 3.0% from the previous month and up 11.1% from last year. The average building age was 16.24 years.Read more