February 2015 rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,626 Yen/sqm in February, up 3.2% from the previous month and up 2.5% from last year. The average apartment size was 59.54 sqm and the average building age was 19.0 years.
In Tokyo’s 23-ku, the average monthly rent was 3,201 Yen/sqm, up 0.7% from the previous month and up 1.7% from last year. The average apartment size was 56.58 sqm and the average building age was 17.2 years.Read more
Central Tokyo apartment transactions reach record high for February
According to REINS, 3,292 second-hand apartments were sold across greater Tokyo in February, up 34.9% from the previous month but down 0.6% from last year. This is the 11th month in a row to see a year-on-year decline, although the rate of decline is the lowest seen so far.
The average apartment sale price was 29,260,000 Yen, up 4.6% from the previous month and up 8.7% from last year. The average price per square meter was 450,000 Yen, up 2.9% from the previous month and up 8.0% from last year. The average building age was 19.33 years.
1,572 second-hand apartments were sold in the Tokyo metropolitan area, up 31.8% from the previous month but down 4.1% from last year. The average sale price was 36,410,000 Yen, up 9.6% from the previous month and up 10.7% from last year. The average price per square meter was 605,900 Yen, up 6.8% from the previous month and up 11.3% from last year. The average building age was 18.37 years.
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 187 apartments were sold, up 50.8% from the previous month and up 8.1% from last year. This is the highest number of transactions in February since REINS began recording data in 2008.Read more
Residential yields in Minato-ku - March 2015
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in March was 5.0%, down 0.2 points from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.6%, down 0.2 points from the previous month and down 0.7 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 890,457 Yen/sqm as of March 1, up 0.7% from the previous month and up 14.2% from last year. The average asking price for land was 1,246,667 Yen/sqm, down 0.6% from the previous month but up 17.2% from last year.
Tokyo apartment sales in February 2015
The following is a selection of apartments that were sold in central Tokyo during the month of February 2015:Read more
Secondhand apartment prices in January 2015 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 28,990,000 Yen in January, up 0.1% from the previous month and up 1.6% from January 2014. The average building age was 21.7 years.
In Tokyo’s 23 wards, the average asking price was 44,020,000 Yen, up 0.5% from the previous month and up 7.2% from last year. The average building age was 22.0 years. This is the highest level seen since July 2008.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 62,010,000 Yen, up 0.1% from the previous month and up 11.4% from last year. The average building age was 21.3 years.
The drop in the supply of new apartments has contributed to a rise in the number of buyers seeking second-hand apartments as an alternative to brand new ones. While asking prices have been rising, Tokyo Kantei pointed out that there are some properties that are difficult to sell and have seen their price discounted as a result. For properties in prime locations, some owners have been delaying listing their property for sale in anticipation of prices rising even further.Read more