Tokyo apartment prices increase for 6th month

According to REINS, a total of 3,233 second-hand apartments were reported to have sold across greater Tokyo in July, down 7.4% from the previous month but up 3.0% from last year. The average sale price was 34,420,000 Yen, up 2.4% from the previous month and up 2.4% from last year. The average price per square meter was 535,100 Yen, up 1.4% from the previous month and up 2.6% from last year. This is the 6th month in a row to see a year-on-year increase. 

The average apartment size was 64.34 sqm and the average building age was 21.92 years.

In the Tokyo metropolitan area, 1,746 apartments had sold, down 3.5% from the previous month but up 5.4% from last year. This is the 6th month in a row to see a year-on-year increase in transactions. The average sale price was 42,200,000 Yen, up 1.7% from the previous month and up 2.9% from last year. The average price per square meter was 698,300 Yen, up 0.1% from the previous month and up 2.7% from last year. The average apartment size was 60.42 sqm and the average building age was 20.46 years. 

Central Tokyo’s 3 wards

Central Tokyo’s 3 wards of Chiyoda, Chuo and Minato had 209 reported sales, showing no change from the previous month but up 2.0% from last year. The average sale price was 67,560,000 Yen, up 2.6% from the previous month and up 8.1% from last year. The average price per square meter was 1,164,900 Yen, up 2.1% from the previous month and up 1.7% from last year. The average apartment size was 58.00 sqm and the average building age was 15.71 years. 

Source: REINS, August 13, 2019.

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