According to REINS, a total of 2,749 second-hand apartments were reported to have sold across greater Tokyo in May 2019, down 20% from the previous month and down 1.3% from last year. The average sale price was 33,250,000 Yen, down 2.2% from the previous month but up 0.6% from last year. The average price per square meter was 518,000 Yen, down 2.8% from the previous month but up 1.4% from last year. The average age of an apartment sold was 21.63 years.

In the Tokyo metropolitan area, 1,413 apartments were reported to have sold, down 22.3% from the previous month but up 0.9% from last year. The average sale price was 41,200,000 Yen, down 3.6% from the previous month and down 0.4% from last year. The average price per square meter was 688,700 Yen, down 2.7% from the previous month but up 0.7% from last year. The average building age was 20.17 years. 

The number of new listings dropped 6.0% from last year to 9,083 apartments. This is the first year-on-year drop seen since October 2017.

Central Tokyo’s 3 wards

Central Tokyo’s 3 wards of Chiyoda, Chuo and Minato had 160 reported sales, down 26.3% from the previous month and down 4.8% from last year. The average sale price was 58,270,000 Yen, down 10.9% from the previous month and down 10.8% from last year. The average sale price was 1,090,900 Yen, down 7.9% from the previous month and down 6.3% from last year. The average building age was 18.93 years, while the average apartment size was just 53.41 sqm (575 sq.ft).

Data: REINS, June 10, 2019.

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