Central Tokyo apartment prices up 6.9% from last year

According to REINS, 2,440 second-hand apartments were sold across greater Tokyo in January 2015, down 2.3% from the previous month and down 9.2% from last year. This is the 10th month in a row to see a year-on-year decline.

The average apartment sale price was 27,980,000 Yen, down 1.7% from the previous month but up 4.7% from last year. The average price per square meter was 437,300 Yen, down 2.6% from the previous month but up 5.3% from last year. The average building age was 19.51 years.

1,193 second-hand apartments were sold in the Tokyo metropolitan area, down 4.6% from the previous month and down 9.3% from last year. The average sale price was 33,220,000 Yen, down 5.3% from the previous month but up 1.3% from last year. The average price per square meter was 567,600 Yen, down 4.4% from the previous month but up 4.1% from last year. The average building age was 18.89 years.

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), the average sale price was 48,030,000 Yen, down 16.2% from the previous month and down 1.4% from last year. The average size of an apartment sold in January shrunk by 10.3% from the month before, while the average building age was 4 years older, which may help explain the fairly large drop in price from the previous month. The average sale price per square meter was 933,000 Yen, down 6.6% from the previous month but up 6.9% from last year.Read more

by Zoe Ward

Residential yields in Minato-ku - February 2015

Tokyo and Minato Yields

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in February was 5.2%, down 0.1 points from the previous month and down 0.2 points from last year. The average gross yield across Tokyo was 6.8%, showing no change 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 884,371 Yen/sqm as of February 1, up 4.9% from the previous month and up 16.4% from the previous year. The average asking price for land was 1,254,242 Yen/sqm, down 0.6% from the previous month but up 17.0% from last year.Read more

by Zoe Ward

Tokyo apartment sales in January 2015

Tokyo apartment sales Jan 2015

The following is a selection of apartments that were sold in central Tokyo during the month of January 2015:Read more

by Zoe Ward

Secondhand apartment prices in December 2014 - Tokyo Kantei

For the first time in three years, the average asking price of a secondhand apartment in greater Tokyo has increased from the previous year. According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in greater Tokyo in 2014 was 28,510,000 Yen, up 2.1% from 2013. In Tokyo’s 23-ku, the average price in 2014 was 42,030,000 Yen, up 5.2% from 2013. It is now 6.3% below the peak seen during the last mini-bubble in 2008.

Prices in December

The average asking price in Tokyo’s 23 wards was 43,790,000 Yen in December, up 1.1% from the previous month and up 7.7% from December 2013. The average building age was 22.2 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 61,970,000 Yen, up 1.1% from the previous month and up 12.8% from the previous year. The average building age was 21.4 years.

The average price across greater Tokyo was 29,870,000 Yen in December, up 0.5% from the previous month and up 2.3% from the previous year.Read more

by Zoe Ward

New apartment prices in Tokyo down 7% in December but annual average reaches record high

According to the Real Estate Economic Institute, 9,389 brand new apartments were released for sale in greater Tokyo in December, up 181.4% from the previous month and up 13.9% from December 2013.

6,567 apartments were sold, making the contract rate 69.9%, down 8.5 points from the previous month and down 6.2 points from the previous year. This is just below the 70% level which is said to be the line between positive and negative market conditions.

The average new apartment price was 50,220,000 Yen, down 3.9% from the previous month and down 5.9% from the previous year. The average price per square meter was 710,000 Yen, down 3.7% from the previous month and down 4.4% from the previous year.

1,940 apartments in high-rise buildings (over 20-storeys) were offered for sale, up 63.9% from the previous year. The contract rate was 63.7%, down 15 points from the previous year and also below the 70% market indicator.Read more

by Zoe Ward

December rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condomonium apartment in greater Tokyo was 2,562 Yen/sqm in December, up 0.1% from the previous month and up 1.9% from the previous year. The average apartment size was 59.62 sqm and the average building age was 19.7 years.

In Tokyo’s 23-ku, the average monthly rent was 3,195 Yen/sqm, down 0.1% from the previous month but up 2.3% from the previous year.

Read more

by Zoe Ward

Second-hand apartment prices in central Tokyo up 19% over the year

According to REINS, 2,497 second-hand apartments were sold across greater Tokyo in December 2014, down 11.8% from the previous month and down 13.9% from December 2013. This is the 9th month in a row to see a year-on-year decline.

The average apartment sale price was 28,470,000 Yen, up 1.4% from the previous month and up 11.2% from the previous year. The average price per square meter was 448,700 Yen, up 1.6% from the previous month and up 10.9% from the previous year. The average building age was 19.85 years.

1,250 second-hand apartments were sold in the Tokyo Metropolitan Area, down 12.6% from the previous month and down 12.1% from the previous year. The average sale price was 35,070,000 Yen, up 2.9% from the previous month and up 12.7% from the previous year. The average price per square meter was 593,400 Yen, up 3.1% from the previous month and up 10.7% from the previous year. The average building age was 18.93 years.

Luxury sales are rising in the metropolitan area with 79 apartments priced over 100 million Yen selling in the 4th quarter of 2014, up 31.7% from the same quarter in 2013.

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), the average sale price was 57,310,000 Yen, up 15.4% from the previous month and up 28.5% from the previous year. The average price per square meter was 998,600 Yen/sqm, up 3.3% from the previous month and up 19.6% from the previous year. It has now exceeded the level seen in January 2008 when REINS began keeping records for central Tokyo sale prices.Read more

by Zoe Ward