According to REINS, the average sale price per square meter for a second-hand apartment sold across greater Tokyo in September reached 691,000 Yen, a 11.2% increase from last year and the 29th month in a row to see a year-on-year increase.

A total of 2,990 apartments were reported to have sold, down 5.9% from last year. The Tokyo metropolitan area saw 1,587 transactions, down 1.4% from last year. Saitama prefecture saw a 13.6% drop, and Kanagawa saw a 10.6% drop. 

The average sale price per square meter in the Tokyo metropolitan area was 909,400 Yen, up 8.9% from last year. The average apartment size was 59.57 sqm (641 sq.ft) and the average building age was 22.37 years.

In central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato, a total of 216 apartments were reported to have sold, up 11.9% from last year. The average sale price per square meter was 1,536,800 Yen, up 12.0% from last year. The average apartment size was 58.33 sqm and the average building age was 18.53 years.

Quarterly sales figures

In the 3rd quarter of 2022, a total of 381 apartments priced over 100 million Yen were reported to have sold across greater Tokyo, up 40% from the same period in 2021. Sales in this price range represented 4.5% of all transactions, up from a 3.1% share this time last year. 

In the Tokyo metropolitan area, sales over 100 million Yen represented 8.0% of all transactions, up from a 5.9% share in 2021.

Source: REINS, October 11, 2022.

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