Greater Tokyo apartment sale prices increase for 39th consecutive month
According to REINS, 3,590 second-hand apartments were sold across greater Tokyo in March 2016, up 1.4% from the previous month but down 3.7% from last year.
The average sale price was 30,560,000 Yen, up 0.4% from the previous month and up 4.6% from last year. The average price per square meter was 477,800 Yen, up 1.4% from the previous month and up 5.4% from last year. This is the 39th month in a row to see a year-on-year increase in prices. The average building age was 20.00 years.
In the Tokyo metropolitan area, 1,806 second-hand apartments were sold, up 2.7% from the previous month but down 2.0% from last year. The average sale price was 37,690,000 Yen, up 1.4% from the previous month and up 5.9% from last year. The average price per square meter was 643,900 Yen, up 4.0% from the previous month and up 7.0% from last year. The average building age was 19.46 years.
There were 93 reported sales of apartments priced over 100 million Yen in the Tokyo metropolitan area in the first quarter of 2016, an increase of 12% from the same period in 2015. Transactions of apartments priced over 70 million Yen have increased by 21% from the first quarter of 2015.