Central Tokyo apartment prices hit new record high in November

In November, the average sale price of an existing apartment in Tokyo’s 23 wards increased for the 10th month in a row. The average reported sale price reached 722,500 Yen/sqm, a 0.8% increase from the previous month and a 5.5% increase from last year. 

According to REINS, a total of 1,715 apartments were sold during the month, up 20.7% from the previous month and up 6.1% from last year.

Central Tokyo 

In central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato, 209 apartments were reported to have sold, up 27.4% from the previous month and up 11.8% from last year. This is the highest number of transactions ever seen for the month of November.

New listings for the month were down 9.4% from last year.

The average sale price was 1,229,000 Yen/sqm, up 5.1% from the previous month and up 9.6% from last year. This is the highest price seen since REINS began keeping data for central Tokyo in 2008.

Data: REINS, December 10, 2019.

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