Central Tokyo apartment prices up 18.7% from last year

In July, the average reported sale price of a second-hand apartment in central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato reached 1,543,800 Yen/sqm, a record high. This is a 7.7% increase from the previous month and an 18.7% increase from last year.

218 apartments were reported to have sold, up 15.3% from last year. The average apartment size was 58.38 sqm and the average building age was 17.68 years. Remaining inventory was up 1.8% from the previous month and up 11.8% from last year.

Across the Tokyo metropolitan area, a total of 1,683 apartments were reported to have sold, up 8.2% from last year. The average sale price was 917,100 Yen/sqm, up 1.9% from the previous month and up 11.6% from last year. This is the 27th month in a row to see a year-on-year increase in sale prices. Remaining inventory was up 14.0% from last year. 

Source: REINS, August 10, 2022.

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