Compact-type apartment market rebounding after 7 years
November 18, 2013real estate market tokyoReal Estate News,Market Information,All,Tokyo
The compact-type apartment market in Tokyo is rebounding after seven years, but is it sustainable?
Sales of compact-type apartments (those with a floor area of 30 ~ 50 sqm) in Tokyo's 23 wards are reaching levels not seen since the mid-2000s. According to consulting firm Total Brain, the average purchase application ratio (the percentage of apartments that received applications to purchase within the first month of sales) was 71.3% for apartments released for sale between January and August 2013. This is the first time that the ratio has reached the 70% range since 2006 and is edging closer to the record high of 71.4% seen in 2005. Read more
October rental data - Tokyo Kantei
November 15, 2013average rent japan,average rent tokyo,rent apartment tokyo,rental market tokyoReal Estate News,Rental Market,All,Osaka,Nagoya,Tokyo
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,531 Yen/sqm in October, down 0.6% from the previous month, but up 2.8% from last year. The average apartment size was 59.14 sqm (636 sqft) and the average building age was 18.9 years.Read more
Buying with resale value in mind
November 14, 2013Property Purchasing Guide,All,Tokyo
There are a lot of factors that can help determine the future resale value of an apartment. Two apartments bought at the same time 10 years ago can have very different resale values today.
For example, one apartment was purchased for 50 million Yen and now has a resale value of 51.5 million Yen (3% gain). The 70 sqm 3-bedroom apartment is a 3 minute walk from a station on the Yamanote Loop Line and was purchased from the developer. It is a south-west corner unit on the 10th floor with good light.
The second apartment was purchased at the same time for 45 million Yen and now has a resale value of 35 million Yen (22% loss). It is a 79 sqm 3-bedroom apartment and is 12 minutes from the same station as the apartment above. It is on the 3rd floor but faces east so it loses the natural light in the afternoon. It was also purchased new from the developer.Read more
Second-hand apartment prices in central Tokyo up 12.9% from last year
November 13, 2013Tokyo Land Prices,Tokyo apartment prices,Tokyo house pricesReal Estate News,Market Information,All,Tokyo
According to REINS, the average price per square meter of a secondhand apartment sold in Tokyo City in October was 537,200 Yen, up 10.4% from last year and up 1.7% from the previous month. The average sale price was 32,420,000 Yen, up 6.3% from last year and up 1.4% from last month.
A total of 3,066 secondhand apartments were sold across greater Tokyo, up 11.7% from last year. 1,447 apartments were sold in Tokyo City, up 13.1% from last year.Read more
Residential yields and vacancy rates in Minato-ku - November 2013
November 12, 2013average rent tokyo,Rental yield in TokyoReal Estate News,Rental Market,Market Information,All,Tokyo
According to real estate listing site Homes, the average yield on an apartment in Minato-ku in November was 5.8%, unchanged from the previous month. The average yield across Tokyo was 7.6%, down 0.1 points from October.Read more
Office vacancy rates in October
November 11, 2013Japan Office Rent,Tokyo Office Market,Tokyo Office Rent,Japan Office Vacancy RatesOffice/Retail News & Information,Real Estate News,All,Osaka,Nagoya,Tokyo
According to Miki Shoji's Office Report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.56% in October, down 0.34 points from the previous month and down 1.18 points from last year.
This is the lowest level seen in over 4 years. Read more
Minato and Shibuya apartment sales (first half 2013)
November 8, 2013Minato-ku,Tokyo apartment prices,Shibuya-kuReal Estate News,Market Information,All,Tokyo
According the MLIT, the average transaction price of an apartment (including both new and old) in the first half of 2013 was 55,143,800 Yen (919,600 Yen/sqm) in Minato-ku and 35,182,100 Yen (814,200 Yen/sqm) in Shibuya-ku.Read more