Tokyo apartment prices increase for 37th consecutive month
According to REINS, 2,877 second-hand apartments were sold across greater Tokyo in October, up 3.8% from the previous month and up 8.4% from last year. The average apartment sale price was 29,480,000 Yen, down 0.4% from the previous month but up 4.8% from last year. The average price per square meter was 458,000 Yen, down 1.0% from the previous month but up 5.2% from last year. The average building age was 20.32 years.
In the Tokyo metropolitan area, 1,415 second-hand apartments were sold, up 1.9% from the previous month and up 8.9% from last year. The average sale price was 36,860,000 Yen, up 2.2% from the previous month and up 6.0% from last year. The average price per square meter was 619,100 Yen, up 1.1% from the previous month and up 5.9% from last year. This is the 37th month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 19.30 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 179 second-hand apartments were sold, up 14.7% from the previous month and up 14.7% from last year. The average sale price was 57,220,000 Yen, up 7.8% from the previous month and up 10.3% from last year. The average price per square meter was 1,039,800 Yen, up 1.5% from the previous month and up 11.8% from last year. The average building age was 16.55 years.
Sale prices per square meter in central Tokyo are now up 50.6% from the most recent bottom seen in November 2012. Read more