According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) apartment in greater Tokyo in July was 30,680,000 Yen, up 1.9% from the previous month and up 8.6% from last year. This is the 11th month in a row to see an increase, although the average is still 9.9% below the peak of 34,040,000 Yen seen in December 2007. The average building age was 22.2 years.
In Tokyo’s 23 wards the average asking price was 47,640,000 Yen, up 1.7% from the previous month and up 14.1% from last year. This is the first time that the price has exceeded the previous peak of 47,280,000 Yen seen in February 2008. This is also the 13th month in a row to see an increase in prices. The average building age was 22.2 years.
In central Tokyo’s six wards, the average price was 66,950,000 Yen, up 1.8% from the previous month and up 15.4% from last year.
In Yokohama City, the average price was 26,510,000 Yen, down 0.8% from the previous month but up 3.6% from last year. Prices in Yokohama are still 9.4% below their peak of 29,250,000 Yen seen in December 2007.
Greater Tokyo | 30,680,000 Yen (+1.9% from June 2015; +8.6% from July 2014) |
Tokyo | 42,670,000 Yen (+2.2%; +12.7%) |
Kanagawa Prefecture | 25,160,000 Yen (+0.1%; +4.1%) |
Saitama Prefecture | 18,970,000 Yen (+0.5%; +1.9%) |
Chiba Prefecture | 17,720,000 Yen (-1.0%; -3.5%) |
Kinki Region | 18,510,000 Yen (+0.6%; +2.1%) |
Osaka | 19,250,000 Yen (+0.1%; +4.3%) |
Hyogo Prefecture | 17,640,000 Yen (+1.3%; 0.0%) |
Chubu Region | 15,330,000 Yen (-0.3%; +5.5%) |
Aichi Prefecture | 16,050,000 Yen (-0.4%; +5.9%) |
Apartment asking prices by city:
Tokyo 23-ku | 47,640,000 Yen (+1.7% from June 2015; +14.1% from July 2014) |
Yokohama City | 26,510,000 Yen (-0.8%; +3.6%) |
Saitama City | 22,040,000 Yen (+2.8%; +5.1%) |
Chiba City | 16,430,000 Yen (-0.1%; -5.2%) |
Osaka City | 23,530,000 Yen (+0.6%; +7.1%) |
Kobe City | 18,100,000 Yen (+1.6%; +1.4%) |
Nagoya City | 18,680,000 Yen (-0.9%; +6.3%) |
Apartment asking prices in Tokyo, Osaka and Nagoya:
Tokyo central 6 wards | 66,950,000 Yen (+1.8% from June 2015; +15.4% from July 2014) |
Jyonan, Jyosai 6 wards | 49,610,000 Yen (+2.0%; +11.5%) |
Jyohoku, Jyoto 11 wards | 35,980,000 Yen (+0.3%; +11.1%) |
Osaka central 6 wards | 32,490,000 Yen (+1.3%; +13.6%) |
Nagoya central 3 wards | 22,720,000 Yen (-2.7%; +5.8%) |
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 July.
Source: Tokyo Kantei, August 20, 2015.