A 70sqm apartment in central Tokyo now costs over 100 million Yen

The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in Tokyo’s central wards of Chiyoda, Minato, and Shibuya, has exceeded the 100 million Yen range in November, 2022.

Chiyoda ward, surrounding the Imperial Palace, had the highest asking price of 130.26 million Yen, with Minato ward in second place at 120.95 million Yen, and Shibuya with an average of 104.36 million Yen. 

Across Tokyo’s 23 wards, the average price was 69.45 million Yen, down 0.4% from the previous month but up 6.5% from last year. This was the first time in 28 months to see a decline in pricing from the previous month. 

In central Tokyo’s six wards, the average asking price reached 100.13 million Yen, up 0.6% from the previous month and up 6.9% from last year. This is the 14th month in a row to see a month-on-month increase.

Over the past 10 years, the average asking price in Tokyo’s 6 wards has increased by 95.3%, and 76.8% in the 23 wards.

Tokyo’s 6 wards = Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, and Shibuya.

Source: Tokyo Kantei, December 22, 2022.

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