Autumn sales sees contract ratio return above 70%

Autumn sales season kicked off last month with 2,768 brand-new apartments released for sale across greater Tokyo, a 36% increase from the previous month and a 34.7% increase from last year.

The contract ratio was 71.9%, up 10.3 points from the previous month and up 0.5 points from last year. This was the first time it has exceeded the 70% line since May. For buildings over 20 stories, the contract ratio was 86.2%.

The average sale price was 67,870,000 Yen, up 0.5% from last year. The average price per square meter was 995,000 Yen, down 5.9% from last year. 

Remaining inventory at the end of October was 4,945 units, down 8.% from last year.

Tokyo’s 23 wards

The average sale price in Tokyo’s 23 wards was 93,650,000 Yen, up 10.8% from last year. The average price per square meter was 1,433,000 Yen, down 0.8% from last year. A total of 1,080 apartments were released for sale during the month. The contract ratio was 64.5%. For apartments priced over 200 million Yen, the contract ratio was 71.9%. 

Source: The Real Estate Economic Institute, November 21, 2022.

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