Tokyo apartment asking prices in March 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,810,000 Yen in March 2017, down 0.1% from the previous month but up 5.8% from last year. The average building age was 22.5 years.

In the Tokyo metropolitan area the average asking price was 48,150,000 Yen, down 0.6% from the previous month but up 2.8% from last year. The average building age was 21.9 years.

In Tokyo’s 23 wards the average asking price was 53,110,000 Yen, down 0.3% from the previous month but up 2.5% from last year. The average building age was 21.8 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 72,770,000 Yen, up 0.1% from the previous month and up 1.8% from last year. The average building age was 20.1 years.

Prices in central Osaka have shifted to a downwards trend since July 2016. In March, asking prices were 37,060,000 Yen, down 1.5% from the previous month.

Asking prices across Japan:

 

Greater Tokyo 35,810,000 Yen (-0.1% from Feb. 2017; +5.8% from Mar. 2016)
  Tokyo 48,150,000 Yen (-0.6%; +2.8%)
  Kanagawa Prefecture 28,040,000 Yen (+0.3%; +7.1%)
  Saitama Prefecture 20,900,000 Yen (-0.7%; +4.2%)
  Chiba Prefecture 19,400,000 Yen (-0.3%; +6.4%)
Kinki Region 21,260,000 Yen (+0.7%; +6.6%)
  Osaka 22,930,000 Yen (+0.3%; +6.5%)
  Hyogo Prefecture 18,680,000 Yen (+0.8%; +4.9%)
Chubu Region 16,920,000 Yen (+0.5%; +5.7%)
  Aichi Prefecture 18,080,000 Yen (0.0%; +5.9%)

Apartment asking prices by city:

 

Tokyo 23 wards 53,110,000 Yen (-0.3% from Feb. 2017; +2.5% from Mar. 2016)
Yokohama City 30,070,000 Yen (+0.1%; +7.7%)
Saitama City 25,490,000 Yen (-2.5%+10.6%)
Chiba City 17,830,000 Yen (-2.2%; +9.9%)
Osaka City 28,540,000 Yen (-0.5%; +3.6%)
Kobe City 18,820,000 Yen (-0.2%; +3.0%)
Nagoya City 21,340,000 Yen (+0.8%; +5.1%)

Apartment asking prices in Tokyo, Osaka and Nagoya:

 

Tokyo central 6 wards 72,770,000 Yen (+0.1% from Feb. 2017; +1.8% from Mar. 2016)
Jyonan, Jyosai 6 wards 51,950,000 Yen (0.0%; +0.2%)
Jyohoku, Jyoto 11 wards 41,510,000 Yen (+0.9%; +6.5%)
Osaka central 6 wards 37,060,000 Yen (-1.5%; +1.0%)
Nagoya central 3 wards 27,490,000 Yen (+1.1%; +8.1%)

 

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 March.

Source: Tokyo Kantei, April 24, 2017.

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