Central Tokyo apartment transactions up 35% in August

According to REINS, a total of 2,584 second-hand apartments were reported to have sold across greater Tokyo in August, up 12.2% from last year. The average sale price was 34,610,000 Yen, up 4.3% from last year. The average price per square meter was 538,800 Yen, up 3.4% from last year and the 7th month in a row to see a year-on-year increase. 

The average apartment size was 64.23 sqm and the average building age was 21.94 years.

In the Tokyo metropolitan area, transactions increased by 16.0% year-on-year to 1,376 units in August. This is the 7th month in a row to see a year-on-year increase. The average sale price was 43,140,000 Yen, up 5.4% from last year. The average price per square meter was 713,300 Yen/sqm, up 4.4% from last year and the 7th month in a row to see a year-on-year increase. The average apartment size was 60.48 sqm and the average building age was 21.00 years.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, transactions jumped by a surprising 35.5% from last year to 168 sales. August, one of the hottest months of the year and a time when many take summer holidays, is typically a slow month for real estate. However, recent years have proved an exception.

The average sale price was 69,330,000 Yen, up 3.8% from last year. The average price per square meter was 1,196,200 Yen, up 0.2% from last year and the highest price since REINS began recording this data in 2008.

Source: REINS, September 10, 2019.

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