The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s 23 wards reached 66,700,000 Yen in January 2022. This is a 10.4% increase from January 2021 and the 19th month in a row to record an increase.

Since January 2020, the average asking price has increased by 17.8%. Prices have risen 70% since the most recent market bottom of mid-2012.

The price hike was even more apparent in Saitama City which has seen asking prices increase by 18.3% over the past 12 months. Yokohama City saw asking prices rise by 11.9%.

Chiba City (+5.1%), Kobe (+5.0%), and Osaka City (+8.7%) also saw price growth. 

In central Tokyo’s six wards of Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya, the average asking price was 95,310,000 Yen, up 8.5% from last year. The average building age was 24.3 years. The average asking price has risen by 16.9% since the start of 2020, and 85% since mid-2012.

Source: Tokyo Kantei, February 21, 2022.

Loading