According to Tokyo Kantei, the average asking price of a 70 sqm second-hand apartment in Tokyo’s 23 wards was 67,990,000 Yen (approx. US$502,000) in May 2022, up 0.1% from the previous month and up 7.8% from last year. This is the 23rd month in a row to see an increase.
In the central 6 wards of Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, and Shibuya, the average price was 97,720,000 Yen (approx. US$722,000), up 0.4% from the previous month and up 7.2% from last year.
Prices in central Tokyo have increased by 19.8% since January 2020, pre-pandemic, and by 12.5% across the 23 wards.
Pandemic price increases
The following is the change in the average asking price of apartments between January 2020 and May 2022.
- Tokyo 23 wards: +12.5%
- Central Tokyo 6 Wards: +19.8%
- Yokohama City: +14.8%
- Saitama City: +26.2%
- Chiba City: +12.3%
- Osaka City: +9.5%
- Osaka Central 6 Wards: +8.3%
- Nagoya City: +14.0%
- Nagoya Central 3 Wards: +18.4%
- Kobe City: +4.2%
Source: Tokyo Kantei, June 23, 2022.
