According to REINS, 3,539 second-hand apartments were sold across greater Tokyo in February, up 33.3% from the previous month and up 7.5% from last year. This is the 5th month in a row to see a year-on-year increase in transactions.
The average sale price was 30,450,000 Yen, up 2.0% from the previous month and up 4.1% from last year. The average price per square meter was 471,200 Yen, up 0.6% from the previous month and up 4.7% from last year. This is the 38th month in a row to see a year-on-year increase in sale prices. The average building age was 19.71 years.
In the Tokyo metropolitan area, 1,759 second-hand apartments were sold, up 36.1% from the previous month and up 11.9% from last year. The average sale price was 37,160,000 Yen, up 0.1% from the previous month and up 2.1% from last year. The average price per square meter was 618,900 Yen, down 2.3% from the previous month but up 2.1% from last year. The average building age was 18.64 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 180 second-hand apartments were sold, up 5.9% from the previous month but down 3.7% from last year. The average sale price was 54,550,000 Yen, up 4.8% from the previous month and up 2.1% from last year. The average price per square meter was 1,015,200 Yen, up 1.3% from the previous month and up 2.4% from last year. The average building age was 17.17 years.
Past transactions in February (central Tokyo’s 3 wards):
- 2016: 180
- 2015: 187
- 2014: 173
- 2013: 163
- 2012: 141
- 2011: 148
- 2010: 122
- 2009: 109
- 2008: 101
Sale prices per square meter:
Greater Tokyo: | 471,200 Yen | +4.7% from Feb. 2015 |
Tokyo Metropolitan Area | 618,900 Yen | +2.1% |
Chiyoda, Chuo, Minato | 1,051,200 Yen | +2.4% |
Shinagawa, Ota, Meguro, Setagaya |
713,600 Yen | +1.3% |
Shinjuku, Shibuya, Suginami, Nakano |
804,500 Yen | +3.7% |
Bunkyo, Toshima, Kita, Itabashi, Nerima |
589,400 Yen | -1.6% |
Taito, Koto, Edogawa, Sumida, Katsushika, Adachi, Arakawa |
544,700 Yen | +10.4% |
Saitama Prefecture: | 299,800 Yen | +6.2% |
Saitama City | 362,200 Yen | +1.1% |
Chiba Prefecture: | 271,600 Yen | +6.5% |
Chiba City | 252,300 Yen | +9.5% |
Kanagawa Prefecture: | 408,100 Yen | +4.8% |
Yokohama City | 415,100 Yen | +3.8% |
Kawasaki City | 509,400 Yen | +4.5% |
Tokyo Metropolitan Area | |
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No. of sales in February: | 1,759 (+36.1% from Jan. 2016; +11.9% from Feb. 2015) |
Remaining inventory: | 24,110 apartments (13.71 months) |
Average sale price: | 37,160,000 Yen (+0.1%; +2.1%) |
Average sale price per sqm: | 618,900 Yen (-2.3%; +2.1%) |
Average size: | 60.04 sqm |
Average building age: | 18.64 yrs (-0.44 yrs; +0.27 yrs) |
Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato) | |
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No. of sales in February: | 180 (+5.9% from Jan. 2016; -3.7% from Feb. 2015) |
Remaining inventory: | 3,794 apartments (21.08 months) |
Average sale price: | 54,550,000 Yen (+4.8%; +2.1%) |
Average sale price per sqm: | 1,015,200 Yen (+1.3%; +2.4%) |
Average size: | 53.74 sqm |
Average building age: | 17.17 yrs (+0.41 yrs; +1.61 yrs) |
SECOND-HAND HOMES
1,247 second-hand homes were sold across greater Tokyo, up 28.7% from the previous month and up 19.2% from last year. The average sale price was 30,470,000 Yen, down 2.2% from the previous month and down 4.0% from last year. The average house size was 106.48 sqm and the average land size was 147.73 sqm. The average building age was 20.35 years.
375 second-hand homes were sold in the Tokyo metropolitan area, up 30.0% from the previous month and up 11.9% from last year. The average sale price was 42,620,000 Yen, down 2.3% from the previous month and down 7.2% from last year. The average house size was 105.88 sqm and the average land size was 120.31 sqm. The average building age was 18.85 years.
In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 62,040,000 Yen, down 3.2% from the previous month and down 4.5% from last year. The average house size was 109.92 sqm and the average land size was 93.97 sqm. The average building age was 16.77 years.
BRAND NEW HOMES
573 brand new homes were sold across greater Tokyo, up 63.7% from the previous month and up 27.1% from last year. The average sale price was 33,780,000 Yen, up 1.2% from the previous month and up 1.1% from last year. The average house size was 98.04 sqm and the average land size was 120.33 sqm.
138 brand new homes were sold in the Tokyo metropolitan area, up 62.4% from the previous month and up 60.5% from last year. The average sale price was 40,290,000 Yen, up 1.4% from the previous month but down 7.0% from last year. The average house size was 92.62 sqm and the average land size was 109.51 sqm.
LAND
559 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, up 35.7% from the previous month and up 38.0% from last year. The average price per square meter was 201,300 Yen, up 10.1% from the previous month and up 9.4% from last year.
188 blocks of land were sold in the Tokyo metropolitan area, up 77.3% from the previous month and up 82.5% from last year. The average price per square meter was 317,400 Yen, up 4.2% from the previous month and up 6.3% from last year.
Source: REINS, March 10, 2016.