Tokyo apartment asking prices increase for 23rd consecutive month

Tokyo Apt Sales May2016

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in May 2016 was 34,520,000 Yen, up 0.7% from the previous month and up 15.1% from last year. The average building age was 22.2 years.

In the Tokyo metropolitan area, the average asking price was 47,640,000 Yen, up 0.5% from the previous month and up 15.7% from last year. This is the 23rd month in a row to record an increase in prices. The average building age was 21.8 years.

In Tokyo’s 23 wards, the average asking price was 52,680,000 Yen, up 0.2% from the previous month and up 14.4% from last year. The average building age was 21.7 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,460,000 Yen, down 0.4% from the previous month but up 10.2% from last year.

Asking prices across Japan:

Greater Tokyo 34,520,000 Yen (+0.7% from Apr. 2016; +15.1% from May 2015)
  Tokyo 47,640,000 Yen (+0.5%; +15.7%)
  Kanagawa Prefecture 26,830,000 Yen (+1.4%; +6.4%)
  Saitama Prefecture 20,140,000 Yen (+0.4%; +6.5%)
  Chiba Prefecture 18,360,000 Yen (-0.2%; +2.7%)
Kinki Region 20,050,000 Yen (-1.6%; +9.2%)
  Osaka 21,960,000 Yen (-0.9%; +14.7%)
  Hyogo Prefecture 17,510,000 Yen (0.0%; +0.5%)
Chubu Region 16,110,000 Yen (+2.0%; +4.2%)
  Aichi Prefecture 17,170,000 Yen (+2.4%; +5.9%)

Apartment asking prices by city:

Tokyo 23 wards 52,680,000 Yen (+0.2% from Apr. 2016; +14.4% from May 2015)
Yokohama City 28,840,000 Yen (+2.4%; +7.9%)
Saitama City 23,460,000 Yen (-1.9%+9.3%)
Chiba City 17,090,000 Yen (+2.4%; +1.7%)
Osaka City 28,230,000 Yen (+0.9%; +21.4%)
Kobe City 17,810,000 Yen (-1.8%; +0.7%)
Nagoya City 20,350,000 Yen (+2.3%; +7.3%)

Apartment asking prices in Tokyo, Osaka and Nagoya:

Tokyo central 6 wards 71,460,000 Yen (-0.4% from Apr. 2016; +10.2% from May 2015)
Jyonan, Jyosai 6 wards 52,170,000 Yen (-0.2%; +7.8%)
Jyohoku, Jyoto 11 wards 39,870,000 Yen (+0.8%; +13.1%)
Osaka central 6 wards 37,970,000 Yen (+0.7%; +20.0%)
Nagoya central 3 wards 25,080,000 Yen (-1.9%; +7.0%)

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 May.

Source: Tokyo Kantei, June 23, 2016.

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