The median discount on an existing apartment sold in Tokyo’s 23 wards in August was 1.46%, up 0.06 points from July but showing no change from August 2019. Buying activity continued to improve again in August, with transactions looking similar to the volume seen last year.
72% of apartments sold at a discount of less than 3%. That includes 35% of transactions that sold at full asking price. 13% of apartments sold at a discount of 5% or more, down 2 percentage points from July 2019. The biggest median discount was seen in the under-30 million Yen price bracket, with 2.64%. Apartments over 100 million Yen had a median discount of 1.68%.
Apartments over 100 million had a median discount of 1.68%, down from August 2019’s median of 2.98%, and took 72 days to sell (August 2019: 78 days).
The median apartment size was 64.93 sqm, 6% larger than last year. Discounts on larger apartments (over 80 sqm), were smaller this year with a median of 1.84%. In August 2019 the median discount was 2.48%.
Transactions for apartments under 60 sqm were down 14% from last year while seeing a 19% increase in sales in the 60 ~ 80 sqm range.
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