Tokyo metro apartment prices increase for 43rd consecutive month
According to REINS, 3,294 second-hand apartments were sold across the greater Tokyo area in April 2016, down 8.2% from the previous month but up 17.3% from April 2015. March is typically a busy month for transactions, so it is normal to see a drop in transactions in the following month.
The average sale price was 29,170,000 Yen, down 4.6% from the previous month but up 3.2% from last year. The average price per square meter was 465,000 Yen, down 2.7% from the previous month but up 4.4% from last year. This is the 40th month in a row to see a year-on-year increase in the sale price on a per square meter basis. The average building age was 20.46 years.
In the Tokyo metropolitan area, 1,653 second-hand apartments were sold, down 8.5% from the previous month but up 20.0% from last year. The average sale price was 36,380,000 Yen, down 3.5% from the previous month but up 4.2% from last year. The average price per square meter was 628,000 Yen, down 2.5% from the previous month but up 5.1% from last year. This is the 43rd month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 19.13 years.