Tokyo metro apartment prices increase for 47th consecutive month

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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.

Past transactions in central Tokyo’s 3 wards in August:

  • 2016: 134
  • 2015: 142
  • 2014: 114
  • 2013: 128
  • 2012: 88
  • 2011: 77
  • 2010: 91
  • 2009: 97
  • 2008: 82

 

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Sale prices per square meter:

 

Greater Tokyo: 476,900 Yen +6.4% from Aug. 2015
Tokyo Metropolitan Area 637,000 Yen +5.8%
Chiyoda, Chuo, Minato 1,055,700 Yen +3.7%
Shinagawa, Ota, Meguro,
Setagaya
736,900 Yen +5.9%
Shinjuku, Shibuya, Suginami,
Nakano
786,000 Yen +2.8%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
636,700 Yen +7.2%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
546,000 Yen +12.3%
Saitama Prefecture: 282,600 Yen +2.1%
Saitama City 353,900 Yen -5.5%
Chiba Prefecture: 264,000 Yen +9.6%
Chiba City 255,300 Yen +5.8%
Kanagawa Prefecture: 402,700 Yen +4.7%
Yokohama City 415,000 Yen +8.1%
Kawasaki City 487,800 Yen -4.5%

 

Tokyo Metropolitan Area
No. of sales in August: 1,200 (-24.6% from Jul. 2016; +1.3% from Aug. 2015)
Remaining inventory: 25,237 apartments (21.03 months)
Average sale price: 37,480,000 Yen (+0.03%; +7.0%)
Average sale price per sqm: 637,000 Yen (+0.3%; +5.8%)
Average size: 58.84 sqm
Average building age: 18.97 yrs (+0.18 yrs; -0.64 yrs)

 

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in August: 134 (-34.6% from Jul. 2016; -5.6% from Aug. 2015)
Remaining inventory: 3,907 apartments (29.16 months)
Average sale price: 53,690,000 Yen (-0.6%; +3.9%)
Average sale price per sqm: 1,055,700 Yen (+4.5%; +3.7%)
Average size: 50.86 sqm
Average building age: 17.29 yrs (+1.46 yrs; +1.02 yrs)

 

SECOND-HAND HOMES

 

889 second-hand homes were sold across greater Tokyo, down 26.2% from the previous month and down 3.7% from last year. The average sale price was 30,920,000 Yen, up 0.8% from the previous month and up 6.0% from last year. The average house size was 106.52 sqm and the average land size was 151.11 sqm. The average building age was 20.54 years.

299 second-hand homes were sold in the Tokyo metropolitan area, down 8.6% from the previous month but up 17.7% from last year. The average sale price was 44,300,000 Yen, down 5.9% from the previous month but up 3.4% from last year. The average house size was 104.45 sqm and the average land size was 117.00 sqm. The average building age was 19.19 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 59,470,000 Yen, down 28.6% from the previous month and down 3.7% from last year. The average house size was 109.08 sqm (14% smaller than the previous month) and the average land size was 86.41 sqm (20% smaller than the previous month). The average building age was 19.51 years (4.45 years older than the average for the previous month).

BRAND NEW HOMES

 

376 brand new homes were sold across greater Tokyo, down 14.5% from the previous month but up 11.9% from last year. The average sale price was 35,910,000 Yen, up 3.9% from the previous month and up 5.1% from last year. The average house size was 99.29 sqm and the average land size was 123.30 sqm.

117 new homes were sold in the Tokyo metropolitan area, down 14.6% from the previous month but up 56.0% from last year. The average sale price was 43,650,000 Yen, up 7.9% from the previous month and up 8.3% from last year. The average house size was 95.82 sqm and the average land size was 109.47 sqm.

LAND

 

446 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, down 23.6% from the previous month but up 3.0% from last  year. The average sale price was 175,100 Yen/sqm, down 13.6% from the previous month and down 10.4% from last year.

116 blocks of land were sold in the Tokyo metropolitan area, down 33.3% from the previous month and down 10.1% from last year. The average sale price was 301,400 Yen/sqm, down 11.1% from the previous month and down 5.2% from last year.

Source: REINS, September 12, 2016.

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