According to REINS, 2,983 second-hand apartments were sold across greater Tokyo in May, down 5.7% from the previous month and down 0.6% from last year. The average sale price was 31,730,000 Yen, down 2.2% from the previous month but up 6.1% from last year. The average price per square meter was 494,900 Yen, down 1.8% from the previous month but up 5.4% from last year. This is the 53rd month in a row to record a year-on-year increase in prices. The average building age was 20.63 years.
In the Tokyo metropolitan area, 1,532 apartments were sold, down 4.8% from the previous month but up 1.9% from last year. The average sale price was 39,330,000 Yen, down 3.7% from the previous month but up 6.4% from last year. The average sale price per square meter was 660,200 Yen, down 2.7% from the previous month but up 5.5% from last year. This is the 56th month in a row to record a year-on-year increase in sale prices. The average building age was 19.46 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, 204 apartments were sold, down 6.0% from the previous month but up 14.6% from last year. This is the 9th month in a row to see a year-on-year increase in transactions and is the highest number of reported transactions for the month of May seen since record-keeping began in 2008.
The number of new listings was down for the 7th month in a row with 1,144 apartments listed for sale in May, down 12.8% from the previous month and down 12.7% from last year.
The average sale price was 60,220,000 Yen, down 4.5% from the previous month but up 3.7% from last year. The average sale price per square meter was 1,061,900 Yen, down 3.2% from the previous month but up 1.8% from last year. The average building age was 16.73 years.
Remaining inventory was down 1.7% from the previous month and down 7.7% from last year. This is the 3rd month in a row to see a year-on-year decrease in inventory.
Sale prices per square meter:
Greater Tokyo: | 494,900 Yen | +5.4% from May 2016 |
Tokyo Metropolitan Area | 660,200 Yen | +5.5% |
Chiyoda, Chuo, Minato | 1,061,900 Yen | +1.8% |
Shinagawa, Ota, Meguro, Setagaya |
752,800 Yen | +3.6% |
Shinjuku, Shibuya, Suginami, Nakano |
827,900 Yen | +7.9% |
Bunkyo, Toshima, Kita, Itabashi, Nerima |
650,000 Yen | +8.8% |
Taito, Koto, Edogawa, Sumida, Katsushika, Adachi, Arakawa |
539,300 Yen | +0.9% |
Saitama Prefecture: | 304,200 Yen | +7.8% |
Saitama City | 372,600 Yen | +0.9% |
Chiba Prefecture: | 265,000 Yen | +3.3% |
Chiba City | 237,100 Yen | +0.1% |
Kanagawa Prefecture: | 408,900 Yen | -3.4% |
Yokohama City | 403,300 Yen | -2.2% |
Kawasaki City | 522,200 Yen | +2.7% |
Tokyo Metropolitan Area | |
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No. of sales in May: | 1,532 (-4.8% from Apr. 2017; +1.9 from May 2016) |
Remaining inventory: | 24,871 apartments (16.23 months) |
Average sale price: | 39,330,000 Yen (-3.7%; +6.4%) |
Average sale price per sqm: | 660,200 Yen (-2.7%; +5.5%) |
Average size: | 59.57 sqm |
Average building age: | 19.46 yrs (+0.91 yrs; -0.38 yrs) |
Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato) | |
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No. of sales in May: | 204 (-6.0% from Apr. 2017; +14.6% from May 2016) |
Remaining inventory: | 3,565 apartments (17.47 months) |
Average sale price: | 60,220,000 Yen (-4.5%; +3.7%) |
Average sale price per sqm: | 1,061,900 Yen (-3.2%; +1.8%) |
Average size: | 56.71 sqm |
Average building age: | 16.73 yrs (+1.62 yrs; -0.50 yrs) |
SECOND-HAND HOMES
1,099 second-hand homes were sold across greater Tokyo, down 2.4% from the previous month and down 3.8% from last year. The average sale price was 30,400,000 Yen, up 1.0% from the previous month and up 2.7% from last year. The average house size was 105.02 sqm and the average land size was 144.82 sqm. The average building age was 20.51 years.
365 homes were sold in the Tokyo metropolitan area, up 4.0% from the previous month and up 12.7% from last year. The average sale price was 42,150,000 Yen, up 2.2% from the previous month but down 0.5% from last year. The average house size was 102.94 sqm and the average land size was 112.46 sqm. The average building age was 19.05 years.
In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 62,310,000 Yen, up 0.1% from the previous month but down 20.4% from last year. The average house size was 99.31 sqm and the average land size was 85.86 sqm. The average building age was 15.96 years.
BRAND NEW HOMES
464 brand new homes were sold across greater Tokyo, up 2.2% from the previous month but down 0.2% from last year. The average sale price was 36,110,000 Yen, up 1.5% from the previous month and up 1.2% from last year. The average house size was 98.15 sqm and the average land size was 119.44 sqm.
136 new homes were sold in the Tokyo metropolitan area, up 7.1% from the previous month and up 3.8% from last year. The average sale price was 43,320,000 Yen, up 7.0% from the previous month but down 1.9% from last year. The average house size was 95.56 sqm and the average land size was 108.31 sqm.
LAND
501 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, up 1.0% from the previous month but down 7.2% from last year. The average sale price was 199,000 Yen/sqm, up 5.2% from the previous month but down 1.4% from last year.
140 blocks were sold in the Tokyo metropolitan area, up 13.8% from the previous month but down 7.3% from last year. The average sale price was 353,000 Yen/sqm, up 0.1% from the previous month and up 3.2% from last year.
Source: REINS, Jun 12, 2017.