Tokyo apartment rents slide for second month
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,624 Yen/sqm in November, down 2.1% from the previous month but up 2.5% from last year. The average apartment size was 59.76 sqm and the average building age was 19.6 years.
In the Tokyo metropolitan area, the average rent was 3,157 Yen/sqm, down 0.8% from the previous month but up 3.1% from last year. The average apartment size was 56.99 sqm and the average building age was 18.0 years.
In Tokyo’s 23 wards, the average rent was 3,306 Yen/sqm, down 0.3% from the previous month but up 3.3% from last year. The average apartment size was 56.26 sqm and the average building age was 17.5 years.
New apartment prices in greater Tokyo exceed 60 million Yen for first time since 1991
According to the Real Estate Economic Institute, 3,496 brand new apartments were released for sale in greater Tokyo in November, up 19.7% from the previous month and up 4.8% from last year. 2,871 apartments were sold, making the contract ratio 82.1%, up 13.3 points from the previous month and up 3.7 points from last year.
The average price of a new apartment was 63,280,000 Yen, up 18.0% from the previous month and up 21.1% from last year. This is the first time that prices have exceeded 60 million Yen since June 1991. The average price per square meter was 871,000 Yen, up 14.8% from the previous month and up 18.2% from last year.Read more
Tokyo apartment prices increase for 38th consecutive month
According to REINS, 2,971 second-hand apartments were sold across greater Tokyo in November, up 3.3% from the previous month and up 5.0% from last year. The average apartment sale price was 29,160,000 Yen, down 1.1% from the previous month but up 3.8% from last year. The average price per square meter was 459,800 Yen, up 0.4% from the previous month and up 4.2% from last year. The average building age was 20.45 years.
In the Tokyo metropolitan area, 1,500 second-hand apartments were sold, up 6.0% from the previous month and up 4.8% from last year. The average sale price was 36,110,000 Yen, down 2.0% from the previous month but up 6.0% from last year. The average price per square meter was 619,600 Yen, up 0.1% from the previous month and up 7.6% from last year. This is the 38th month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 19.27 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 186 apartments were sold, up 3.9% from the previous month and up 26.5% from last year. This is the highest number of transactions recorded for the month of November since record-keeping began in 2008, and is 63% higher than the average transaction numbers seen between 2008 ~ 2012.
The average sale price was 53,770,000 Yen, down 6.0% from the previous month but up 8.3% from last year. The average price per square meter was 1,005,900 Yen, down 3.3% from the previous month but up 4.1% from last year. The average building age was 18.19 years.Read more
Tokyo Apartment Sales in November 2015
The following is a selection of apartments that were sold in central Tokyo during the month of November 2015:Read more
Apartment asking prices in Tokyo increase for 16th month but supply-demand balance starts to shift
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in October was 31,970,000 Yen, up 1.2% from the previous month and up 12.3% from last year. This is the 14th month in a row to see a month-on-month increase in asking prices. The average building age was 22.3 years.
In Tokyo’s 23 wards, the average asking price was 49,780,000 Yen, up 1.3% from the previous month and up 17.0% from last year. This is the 16th month in a row to see a month-on-month increase. The average building age was 22.0 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 69,690,000 Yen, up 0.7% from the previous month and up 15.8% from last year. This is the fifth month in a row to see an increase, although the rate of increase has slowed.Read more