10-fold increase in 100 million Yen + apartment sales in Tokyo
The number of apartments that have sold for over 100 million Yen in the Tokyo metropolitan area has risen 10-fold over the past decade. According to listing database and market information provider REINS, reported transactions in Tokyo reached 1,136 in 2021, up 39.6% from 2020 and up 952% from 2011.
Obon Holiday
Please note our office will be closed for the Obon Holiday from August 10 (today) and will re-open on August 15 (Monday). We look forward to seeing everyone again after the break.
Historic home in Kagoshima to be demolished
A historic and heritage-listed home in Kagoshima City will be demolished by the end of this year after a six-year attempt to save it.
Tokyo: A big city with small apartments
Did you know that less than 3% of the second-hand apartments listed for sale across greater Tokyo in 2021 were over 100 sqm (1,076 sq.ft) in size? And that 0.4% were over 141 sqm (1,517 sq.ft) in size?
Tokyo Apartment Sales in July 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2022:
Apartments in Tokyo are selling faster and with smaller discounts
Last year, the market for second-hand apartments in the greater Tokyo area saw discounts hit some of the lowest rates on average, while apartments sold in a shorter amount of time.
Japan’s 5 megabanks to reduce interest rates this month
On July 29, Japan’s five megabanks released their home loan interest rates for the month of August. With the long-term interest rate kept within limits, all five banks will be reducing the base rate on 10-year fixed-rate mortgages.