Tokyo apartment prices increase for 25th month

The average sale price of a second-hand apartment in Tokyo’s 23 wards recorded the 25th consecutive year-on-year increase in May, with prices increasing by 10.8% to 876,200 Yen/sqm.

A total of 1,522 apartments were reported to have sold, down 9.1% from last year.

The average apartment size was 59.25 sqm and the average building age was 21.80 years. Remaining inventory was down 1.1% from the previous month but up 15.3% from last year. Based on current inventory, the average apartment size is 49.49 sqm, about 16% smaller than the average size of an apartment sold.

In central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato, a total of 176 apartments were reported to have sold, down 4.9% from last year.

The average sale price was 1,462,800 Yen/sqm, up 11.0% from last year. The average apartment size was 57.37 sqm and the average building age was 17.60 years. Remaining inventory was down 1.3% from the previous month but up 14.1% from last year.

Source: REINS, June 10, 2022.

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