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
Secondhand apartment sale prices reach new record in central Tokyo
According to REINS, 3,114 second-hand apartments were sold across greater Tokyo in June, up 3.5% from the previous month and up 10.7% from last year. This is the 3rd month in a row to see a year-on-year increase in transactions.
The average apartment sale price was 29,140,000 Yen, up 0.9% from the previous month and up 6.2% from last year. The average price per square meter was 453,300 Yen, up 0.1% from the previous month and up 6.6% from last year. The average building age was 20.26 years.
1,579 apartments were sold in the Tokyo metropolitan area, up 8.6% from the previous month and up 14.3% from last year. The average sale price was 35,670,000 Yen, down 1.4% from the previous month but up 4.5% from last year. The average price per square meter was 596,500 Yen, down 2.7% from the previous month but up 5.9% from last year. The average building age was 19.44 years.
Sale prices in central Tokyo reach new record high
Miyagi Prefecture’s vacancy rate set to rise
Local governments in Miyagi Prefecture are paying close attention to vacancy rate trends as demand for temporary housing following the Tohoku disaster is expected to be short-lived.
The prefecture has a vacancy rate of 9.4%, making it the lowest in Japan and the only prefecture with a single digit vacancy rate. The low number of vacant houses, however, can be largely attributed to a steep rise demand for temporary housing from residents displaced by the 2011 Tohoku disaster.
There are concerns that the vacancy rate will start to climb again as the public housing projects built for these residents are gradually completed.Read more
Residential yields in Minato-ku - July 2015
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in July was 4.7%, showing no change from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.5%, down 0.2 points from the previous month and down 0.6 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 857,785 Yen/sqm as of July 1, 2015, up 85 Yen from the previous month and up 9.1% from last year. The average asking price for land was 1,226,363 Yen/sqm, up 1.1% from the previous month but down 1.9% from last year.Read more