Tokyo apartment asking prices increase for 21st consecutive month

Japan apartment prices Mar2016 1

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in March 2016 was 33,840,000 Yen, up 0.8% from the previous month and up 14.5% from last year. The average building age was 22.0 years.

In the Tokyo metropolitan area, the average asking price was 46,860,000 Yen, up 0.9% from the previous month and up 15.5% from last year. This is the 21st month in a row to see an increase in prices. The average building age was 21.5 years.

In Tokyo’s 23 wards, the average price was 51,790,000 Yen, up 0.3% from the previous month and up 14.2% from last year. The average building age was 21.5 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,460,000 Yen, up 0.5% from the previous month and up 10.5% from last year. The average building age was 20.0 years.

Asking prices across Japan:

Greater Tokyo 33,840,000 Yen (+0.8% from Feb. 2016; +14.5% from Mar. 2015)
  Tokyo 46,860,000 Yen (+0.9%; +15.5%)
  Kanagawa Prefecture 26,170,000 Yen (+0.5%; +5.1%)
  Saitama Prefecture 20,050,000 Yen (+0.3%; +8.8%)
  Chiba Prefecture 18,230,000 Yen (-2.4%; 0.0%)
Kinki Region 19,950,000 Yen (+0.7%; +9.0%)
  Osaka 21,530,000 Yen (+1.3%; +14.0%)
  Hyogo Prefecture 17,810,000 Yen (-1.5%; +0.6%)
Chubu Region 16,010,000 Yen (-0.1%; +4.8%)
  Aichi Prefecture 17,070,000 Yen (-0.2%; +6.5%)

Apartment asking prices by city:

Tokyo 23 wards 51,790,000 Yen (+0.3% from Feb. 2016; +14.2% from Mar. 2015)
Yokohama City 27,930,000 Yen (+1.0%; +6.4%)
Saitama City 23,040,000 Yen (0.0%+10.0%)
Chiba City 16,220,000 Yen (-2.6%; -3.0%)
Osaka City 27,550,000 Yen (+1.8%; +21.4%)
Kobe City 18,270,000 Yen (-1.8%; +1.6%)
Nagoya City 20,310,000 Yen (+0.6%; +8.6%)

Apartment asking prices in Tokyo, Osaka and Nagoya:

Tokyo central 6 wards 71,460,000 Yen (+0.5% from Feb. 2016; +10.5% from Mar. 2015)
Jyonan, Jyosai 6 wards 51,850,000 Yen (+0.3%; +9.5%)
Jyohoku, Jyoto 11 wards 38,990,000 Yen (-0.1%; +13.7%)
Osaka central 6 wards 36,710,000 Yen (+0.7%; +18.6%)
Nagoya central 3 wards 25,430,000 Yen (+1.8%; +8.2%)

About the data:

  • Tokyo central 6 wards: Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya.
  • Jyonan, Jyosai 6 wards: Shinagawa, Meguro, Ota, Setagaya, Nakano, Suginami.
  • Jyohoku, Jyoto 11 wards: All other wards in Tokyo.
  • Osaka central 6 wards: Fukushima, Nishi, Tennoji, Naniwa, Kita, Chuo.
  • Nagoya central 3 wards: Naka, Higashi, Chikusa.

The data above is based on advertised prices which may be higher than actual prices after negotiations. Click here to read the REINS report about actual sale prices in March.

Source: Tokyo Kantei, April 21, 2016.

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