The median discount on an existing apartment sold in Tokyo’s 23 wards shrunk for the 4th month in a row, with 1.4% seen on transactions in July. This is 0.4 points lower than the median seen in July 2019. Buying activity continued to improve in July, with transaction numbers that may be on par with last year.
The median time for an apartment to sell was 49 days, showing no change from last year.
70% of apartments sold at a discount of less than 3%, including 35% that sold at their full asking price. 15% sold at a discount of over 5%, down from a 18% share seen last year.
In Minato ward, the median discount was 1.47%, down from a median of 1.67% in 2019. 32% of transactions sold at full list price. The median time to sell was 49 days, down from 71 days in 2019.
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