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.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 213 second-hand apartments were sold, up 18.3% from the previous month but down 7.4% from last year. The average sale price was 56,380,000 Yen, up 3.3% from the previous month and up 3.8% from last year.
The average price per square meter was 1,059,100 Yen, up 4.3% from the previous month and up 9.4% from last year. This is the highest level seen since record-keeping began in January 2008. The average building age was 18.79 years, which is 2.83 years older than the average for March 2015 (15.96 years).
Past transactions in March (central Tokyo’s 3 wards):
- 2016: 213
- 2015: 230
- 2014: 229
- 2013: 206
- 2012: 161
- 2011: 92
- 2010: 128
- 2009: 126
- 2008: 138
Sale prices per square meter:
| Greater Tokyo: | 477,800 Yen | +5.4% from Mar. 2015 |
| Tokyo Metropolitan Area | 643,900 Yen | +7.0% |
| Chiyoda, Chuo, Minato | 1,059,100 Yen | +9.4% |
| Shinagawa, Ota, Meguro, Setagaya |
745,800 Yen | +9.9% |
| Shinjuku, Shibuya, Suginami, Nakano |
821,900 Yen | +4.0% |
| Bunkyo, Toshima, Kita, Itabashi, Nerima |
597,300 Yen | +6.8% |
| Taito, Koto, Edogawa, Sumida, Katsushika, Adachi, Arakawa |
543,900 Yen | +9.0% |
| Saitama Prefecture: | 275,500 Yen | +3.6% |
| Saitama City | 326,400 Yen | -0.7% |
| Chiba Prefecture: | 259,900 Yen | -0.2% |
| Chiba City | 230,100 Yen | -0.8% |
| Kanagawa Prefecture: | 401,400 Yen | +1.4% |
| Yokohama City | 399,900 Yen | -2.6% |
| Kawasaki City | 492,900 Yen | +2.4% |
| Tokyo Metropolitan Area | |
|---|---|
| No. of sales in March: | 1,806 (+2.7% from Feb. 2016; -2.0% from Mar. 2015) |
| Remaining inventory: | 23,778 apartments (13.17 months) |
| Average sale price: | 37,690,000 Yen (+1.4%; +5.9%) |
| Average sale price per sqm: | 643,900 Yen (+4.0%; +7.0%) |
| Average size: | 58.53 sqm |
| Average building age: | 19.46 yrs (+0.82 yrs; +0.88 yrs) |
| Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato) | |
|---|---|
| No. of sales in March: | 213 (+18.3% from Feb. 2016; -7.4% from Mar. 2015) |
| Remaining inventory: | 3,844 apartments (18.05 months) |
| Average sale price: | 56,380,000 Yen (+3.3%; +3.8%) |
| Average sale price per sqm: | 1,059,100 Yen (+4.3%; +9.4%) |
| Average size: | 53.23 sqm |
| Average building age: | 18.79 yrs (+1.62 yrs; +2.83 yrs) |
SECOND-HAND HOMES
1,263 second-hand homes were sold across greater Tokyo, up 1.3% from the previous month and up 6.2% from last year. The average sale price was 30,270,000 Yen, down 0.7% from the previous month and down 1.2% from last year. The average house size was 105.92 sqm and the average land size was 146.87 sqm. The average building age was 20.81 years.
387 second-hand homes were sold in the Tokyo metropolitan area, up 3.2% from the previous month and up 4.3% from last year. The average sale price was 46,310,000 Yen, up 8.6% from the previous month and up 7.9% from last year. The average house size was 107.22 sqm and the average land size was 116.07 sqm. The average building age was 19.59 years.
In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 86,810,000 Yen, up 39.9% from the previous month and up 33.3% from last year. The average house size was 125.52 sqm and the average land size was 112.20 sqm. The average building age was 19.14 years.
BRAND NEW HOMES
523 brand new homes were sold across greater Tokyo, down 8.7% from the previous month but up 12.2% from last year. The average sale price was 33,900,000 Yen, up 0.3% from the previous month and up 2.8% from last year. The average house size was 99.17 sqm and the average land size was 119.36 sqm.
129 brand new homes were sold in the Tokyo metropolitan area, down 6.5% from the previous month but up 19.4% from last year. The average sale price was 41,080,000 Yen, up 2.0% from the previous month and up 4.3% from last year. The average house size was 94.75 sqm and the average land size was 108.08 sqm.
LAND
551 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, down 1.4% from the previous month but up 9.5% from last year. The average price per square meter was 203,700 Yen, up 1.2% from the previous month and up 4.6% from last year.
162 blocks of land were sold in the Tokyo metropolitan area, down 13.8% from the previous month but up 4.5% from last year. The average price per square meter was 338,300 Yen, up 6.6% from the previous month and up 10.7% from last year.
Source: REINS, April 11, 2016.
