According to REINS, 2,772 second-hand apartments were sold across greater Tokyo in September, up 14.8% from the previous month but down 5.7% from last year. This is the first time in six months that transactions have fallen below last year’s level.
The average apartment sale price was 29,580,000 Yen, up 4.5% from the previous month and up 7.6% from last year. The average price per square meter was 462,700 Yen, up 3.2% from the previous month and up 9.0% from last year. The average building age was 20.00 years.
1,389 second-hand apartments were sold in the Tokyo metropolitan area, up 17.2% from the previous month but down 2.5% from last year. The average sale price was 36,070,000 Yen, up 3.0% from the previous month and up 6.8% from last year. The average price per square meter was 612,500 Yen, up 1.7% from the previous month and up 7.8% from last year. The average building age was 18.99 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 156 second-hand apartments were sold, up 9.9% from the previous month and up 3.3% from last year.
The average sale price was 53,100,000 Yen, up 2.8% from the previous month and up 8.6% from last year. The average sale price per square meter was 1,024,500 Yen/sqm, up 0.6% from the previous month and up 13.7% from last year. This is now the fourth month in a row to see prices exceed the 1,000,000 Yen/sqm level. The average building age was 16.58 years.