November rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,560 Yen/sqm in November, down 1.6% from the previous month but up 0.3% from last year. This is the first time in five months to see a month-on-month decline in rent. The average apartment size was 59.90 sqm and the average building age was 19.5 years.
The average monthly rent in Tokyo’s 23-ku was 3,199 Yen/sqm, down 1.1% from the previous month but up 2.8% from last year. The average apartment size was 56.76 sqm and the average building age was 17.7 years. Although rents across all areas within Tokyo have started to weaken, they are still hovering around the 3,200 Yen/sqm range.Read more
Central Tokyo apartment sale prices reach highest level in 7 years
According to REINS, 2,830 second-hand apartments were sold across greater Tokyo in November, up 6.6% from the previous month but down 9.3% from last year. This is the 8th month in a row to see a year-on-year decline. The average apartment sale price was 28,080,000 Yen, down 0.1% from the previous month but up 5.6% from last year. The average price per square meter was 441,500 Yen, up 1.4% from the previous month and up 7.1% from last year. This is the 23rd month in a row to see a year-on-year increase. The average building age was 20.04 years.
1,431 second-hand apartments were sold in the Tokyo metropolitan area, up 10.2% from the previous month but down 7.1% from last year. This is also the 8th month in a row to see a year-on-year decline. The average sale price was 34,080,000 Yen, down 2.0% from the previous month but up 5.2% from last year. The average price per square meter was 575,800 Yen, down 1.5% from the previous month but up 6.3% from last year. The average building age was 19.20 years.
In central Tokyo's 3 wards (Chiyoda, Chuo and Minato), the average sale price was 966,600 Yen/sqm, up 4.0% from the previous month and up 11.5% from last year. This is the highest price seen since January 2008 when prices were 991,900 Yen/sqm.Read more
Residential yields and vacancy rates in Minato-ku - December 2014
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in December was 5.9%, up 0.6 points from the previous month but down 0.1 points from last year. The average gross yield across Tokyo was 6.8%, down 0.1 points from the previous month and down 0.8 points from last year.
The vacancy rate remains unchanged at 9.9% in Minato-ku and 11.0% across Tokyo.
The average asking price of a secondhand apartment in Minato-ku was 833,542 Yen/sqm as of December 1, up 3.8% from the previous month and up 16.5% from last year. The average asking price for land was 1,258,787 Yen/sqm, down 1.1% from the previous month but up 17.5% from last year.Read more
Secondhand apartment prices in October 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 42,560,000 Yen in October, up 0.9% from the previous month and up 4.7% from last year. Asking prices have increased by 8.1% over the past 2 years. The average building age was 22.3 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 60,180,000 Yen, up 1.7% from the previous month and up 10.3% from last year. The average price has increased by 18.0% over the past 2 years. The average building age was 21.7 years.Read more