The number of apartments that have sold for over 100 million Yen in the Tokyo metropolitan area has risen 10-fold over the past decade. According to listing database and market information provider REINS, reported transactions in Tokyo reached 1,136 in 2021, up 39.6% from 2020 and up 952% from 2011.
Sales at this price point represented 5.85% of all transactions for 2021. This is the highest share on record. In 2011 they accounted for just 0.78% of transactions.
200 million Yen + market sees 33-fold increase
Apartment sales in the 200 million Yen and higher sector have increased by 33-fold since 2011. A total of 132 sales were reported in 2021, up 69% from 2020 and up 3,200% from 2011. Sales accounted for 0.68% of the total transactions, up from a 0.03% share in 2011.
For an apartment that sold for over 200 million Yen, the average price per square meter was 2,313,000 Yen and the average building age was 11.85 years. The average apartment size was 117.74 sqm (1,267 sq.ft).
Source: REINS, July 29, 2022.
