We are often asked how the Tokyo property market is moving. Is it slowing down or showing signs of steadying? We are still seeing some big price increases occurring, particularly in the detached house market. Compared to apartments, houses in central Tokyo are in extremely short supply and are difficult to find comparisons for, making it easier for sellers to ask bolder prices.
In some cases the properties have been given a quick makeover to justify a higher price, but in other cases the price has been increased to match recent market conditions.
Case 1: A 4-Bedroom house in the Azabu area
In mid-2016 we managed to negotiate a price of 180 million Yen for our client, who passed on the deal. It was re-listed in December 2016 for approximately 240 million Yen, a 30% increase in 6 months.
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