Tokyo apartment discounts in September

The median discount on an existing apartment sold in Tokyo’s 23 wards in September dropped to 1.32%, down 0.41 points from last year. Discounts were highest in the sub-30 million Yen price range, with a median of 2.07%, and lowest in the 50 ~ 100 million Yen price range with a median discount of 0.87%.

72% of apartments sold at a discount of less than 3%. Meanwhile, 41% of all sales sold at full ask.

The median time to sell an apartment was 44 days, down from 51 days in September 2019. In the central ward of Minato, the median was 37 days, compared with 55 days in 2019.

Last month, transactions of apartments over 100 million Yen increased 60% from September 2019. The median discount in this price bracket was 1.84%, down from 2.66% in 2019.

In terms of apartment size, transactions for units over 80 sqm (861 sq.ft) saw a year-on-year increase of 7%. The sales volume for apartments over 100 sqm (1,076 sq.ft) was up 28% from last year. 

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