Tokyo metro apartment prices increase for 47th consecutive month
According to REINS, 2,384 second-hand apartments were sold across greater Tokyo in August, down 25.3% from the previous month and down 1.3% from last year. The average sale price was 30,090,000 Yen, up 0.4% from the previous month and up 6.3% from last year. The average price per square meter was 476,900 Yen, up 0.8% from the previous month and up 6.4% from last year. This is the 44th month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 20.26 years.
In the Tokyo metropolitan area, 1,200 second-hand apartments were sold, down 24.6% from the previous month but up 1.3% from last year. This is the fifth month in a row where transactions have exceeded those from 12 months prior. The average sale price was 37,480,000 Yen, up 0.03% from the previous month and up 7.0% from last year. The average price per square meter was 637,000 Yen, up 0.3% from the previous month and up 5.8% from last year. This is the 47th month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 18.97 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 134 second-hand apartments were sold, down 34.6% from the previous month and down 5.6% from last year. The average sale price was 53,690,000 Yen, down 0.6% from the previous month but up 3.9% from last year. The average sale price per square meter was 1,055,700 Yen, up 4.5% from the previous month and up 3.7% from last year. The average building age was 17.29 years.
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