Tokyo apartment prices increase for 24th month

The average reported sale price of a second-hand apartment in the Tokyo metropolitan area reached 919,400 Yen/sqm in April. This is a 4.2% increase from March and a 14.1% increase from last year. It’s also the 24th month in a row to see a year-on-year increase in sale prices.

The average building age was 21.40 years, and the average apartment size was 59.45 sqm (640 sq.ft). 

A total of 1,670 apartments were reported to have sold in the Tokyo metropolitan area, down 5.0% from last year. Remaining inventory was up 15.9%.

In central Tokyo’s three wards of Chiyoda, Chuo, and Minato, the average sale price was 1,471,800 Yen/sqm, down 3.8% from March but up 10.3% from last year. The average building age was 18.40 years and the average apartment size was 59.02 sqm. A total of 198 apartments were reported to have sold, down 13.9% from last year. Remaining inventory was up 15.7%.

Source: REINS, May 13, 2022.

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