Apartments continue to become less affordable in 2021
The average price of a 10-year old, 70 sqm second-hand apartment nationwide was 6.54-times times the average annual income in 2021, according to a report by Tokyo Kantei. This is the first time the multiple has exceeded 6 since the research company began recording data in 2008. It is due to the average apartment price increasing by 8.8% to 29.77 million Yen, while the average annual income dropped by 1.5% to 4.55 million Yen.