According to REINS, the number of secondhand apartments reported to have sold across Greater Tokyo in the third quarter of 2020 reached the highest level seen since record-keeping began in 1990. A total of 9,537 apartments had sold between July and September, up 1.4% from the same period in 2019.

The average sale price was 36,560,000 Yen, up 5.8% from 2019, and the 32nd consecutive quarter to record a year-on-year increase. The average price per square meter was 556,300 Yen, up 3.6% from 2019.

New listings dropped 13.7% from 2019. 

In Tokyo’s 23 wards, 3,991 apartments had sold, down 1.5% from 2019 but up 9.9% from 2018. The average price per square meter was 824,300 Yen, up 4.0% from 2019 and up 7.6% from 2018.

Detached home sales

A total of 3,664 detached homes were reported to have sold in the 3rd quarter, up 8.5% from 2019. This is also the highest number of transactions seen in the 3rd quarter since 1990. The average sale price was 31,620,000 Yen, up 2.0% from 2019. The average land size (149.58 sqm) and house size (105.63 sqm) remained relatively unchanged from last year.

New listings dropped 15.1% from 2019. 

Kanagawa Prefecture (+13.6%), Chiba Prefecture (+10.7%), and Tama (+12.3%) all saw double-digit increases in transactions. In terms of sale prices, Tokyo’s 23 wards (+5.7%), and Tama (+10.1%) recorded the highest increases. 

Sapporo and Sendai

Sapporo City in Hokkaido saw secondhand apartment transactions drop 11.6% from 2019, while Sendai City in Miyagi Prefecture saw a 4.8% drop. The average price per square meter increased by 5.7% in Sapporo and 3.3% in Sendai. For detached homes, transactions were down 0.3% in Sapporo, while Sendai saw a staggering 21.5% drop. 

Source: REINS, October 19, 2020.

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