Central Tokyo apartment prices up again in July
According to REINS, 2,808 second-hand apartments were sold across greater Tokyo in July, down 9.8% from the previous month but up 10.9% from last year. This is the 4th month in a row to see a year-on-year increase in transactions.
The average apartment sale price was 28,680,000 Yen, down 1.6% from the previous month but up 9.3% from last year. The average price per square meter was 452,000 Yen, down 0.3% from the previous month but up 10.2% from last year. The average building age was 20.53 years.
1,405 apartments were sold in the Tokyo metropolitan area, down 11.0% from the previous month but up 14.5% from last year. The average sale price was 34,790,000 Yen, down 2.5% from the previous month but up 8.7% from last year. The average price per square meter was 602,800 Yen, up 1.1% from the previous month and up 10.7% from last year. The average building age was 19.87 years.
Sale prices in central Tokyo continue to break records
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 165 second-hand apartments were sold, down 4.1% from the previous month but up 33.1% from last year. This is the highest level seen for the month of July and about 34% higher than the average for the previous 7 years. Read more
Residential yields in Minato-ku - August 2015
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in August was 4.7%, showing no change from the previous month and down 0.6 points from last year. The average gross yield across Tokyo was 6.5%, also showing no change from the previous month and down 0.5 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 868,857 Yen/sqm as of August 1, 2015, up 1.3% from the previous month and up 9.7% from last year. The average asking price for land was 1,234,848 Yen/sqm, up 0.7% from the previous month but down 3.3% from last year.Read more
Tokyo apartment sales in July 2015
The following is a selection of apartments that were sold in central Tokyo during the month of July 2015:Read more
Secondhand apartment prices in June 2015 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment in greater Tokyo in June was 30,110,000 Yen, up 0.4% from the previous month and up 6.4% from last year. This is the first time since April 2011 that the price has exceeded 30 million Yen, and is the 10th month in a row to see a month-on-month increase. The average building age was 22.1 years.
In Tokyo’s 23 wards, the average asking price was 46,840,000 Yen, up 1.7% from the previous month and up 12.5% from last year. The average building age was 22.2 years.
Meanwhile, Yokohama saw prices remain flat from the previous month, while Saitama City (-0.2%) and Chiba City (-2.1%) both saw prices fall from the previous month. In Chiba City, prices are down 3.0% from last year.
In central Tokyo’s six wards, the average price was 65,740,000 Yen, up 1.3% from the previous month and up 14.2% from last year. The average building age was 21.6 years.Read more
New apartment prices in greater Tokyo up 20%
2,757 apartments were sold, making the contract rate 78.7%. This is an increase of 7.6 points from the previous month and an increase of 2.1 points from last year.
The average new apartment price was 58,150,000 Yen, up 20.8% from the previous month and up 20.4% from last year. The average price per square meter was 829,000 Yen, up 22.1% from the previous month and up 21.4% from last year.
745 apartments in high-rise buildings (over 20 storeys) were offered for sale, up 65.9% from last year. The contract rate was 81.6%, down 2.8 points from last year.
The market appears to be in recovery, with the amount of new apartments released for sale finally returning to levels seen 12 months ago. The return is evident in Tokyo’s 23 wards, where there has been a number of same-day sellouts in high-priced buildings. Areas such as Chiba and Saitama, however, are suffering from sluggish demand due to high construction costs which are pushing prices past the budget of many home buyers. In Saitama Prefecture, the contract rate was 58.7%, down 14.6 points from last year.Read more
June 2015 rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,617 Yen/sqm in June, down 1.5% from the previous month but up 0.3% from last year. The drop in the monthly rent is considered to be caused by a smaller share of rental transactions in the Tokyo metropolitan area. The average apartment size was 59.50 sqm and the average building age was 19.0 years.
In the Tokyo metropolitan area, the average rent was 3,110 Yen/sqm, up 0.2% from the previous month and up 2.1% from last year. The average apartment size was 56.50 sqm and the average building age was 17.5 years.
In Tokyo’s 23 wards, the average rent was 3,239 Yen/sqm, up 0.3% from the previous month and up 2.0% from last year. The average apartment size was 55.90 sqm and the average building age was 17.0 years.Read more