According to REINS, 2,993 second-hand apartments were sold across greater Tokyo in December, up 0.3% from the previous month and up 17.7% from December 2015. This is the fourth month in a row to see an increase in transactions from 12 months prior. The average sale price was 31,220,000 Yen, down 1.6% from the previous month but up 9.0% from the previous year. The average price per square meter was 497,800 Yen, up 0.2% from the previous month and up 9.5% from the previous year. This is the 51st month in a row to see a year-on-year increase. The average building age was 20.73 years.
In the Tokyo metropolitan area 1,542 second-hand apartments were sold, down 0.7% from the previous month but up 19.8% from the previous year. This is the 9th month in a row to see a year-on-year increase in transactions. The average sale price was 39,080,000 Yen, down 0.3% from the previous month but up 9.3% from the previous year. The average price per square meter was 670,200 Yen, up 1.5% from the previous month and up 9.9% from the previous year. The average building age was 19.37 years.
In the last quarter of 2016, 129 apartments priced over 100 million Yen were reported to have sold in the Tokyo metropolitan area, up 41.8% from the last quarter of 2015, and a record for the year of 2016. Total sales for the 2016 year were up 20.8% from 2015 and almost four times the number of transactions in 2011.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) 230 second-hand apartments were sold, up 12.2% from the previous month and up 45.6% from the previous year. This is the highest number of recorded transaction for the month of December since record-keeping began in 2008, and is double the average seen between 2008 and 2012.
Past transactions in central Tokyo’s 3 wards in December:
- 2016: 230
- 2015: 158
- 2014: 152
- 2013: 171
- 2012: 116
- 2011: 114
- 2010: 123
- 2009: 98
- 2008: 105