Secondhand apartment prices in September 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 42,160,000 Yen in September, up 0.5% from the previous month and up 4.3% from last year. The average apartment age was 22.5 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 59,160,000 Yen, up 1.0% from the previous month and up 9.5% from last year. The average apartment age was 21.8 years.

The average price across greater Tokyo was 28,230,000 Yen, up 0.3% from the previous month and up 1.2% from last year. The average apartment age was 21.8 years.Read more

by Zoe Ward

September rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,575 Yen/sqm in September, up 0.5% from the previous month and up 1.2% from last year. The average apartment size was 60.01 sqm and the average building age was 19.3 years.

The average rent in Tokyo’s 23-ku was 3,207 Yen/sqm, up 1.3% from the previous month and up 3.6% from last year. The average apartment size was 57.02 sqm and the average building age was 17.4 years.Read more

by Zoe Ward

Supply of new apartments in September down 44%

According to the Real Estate Economic Institute, 3,336 brand new apartments were released for sale in greater Tokyo in September, up 58.1% from the previous month but down 44.1% from last year. 2,388 apartments were sold, making the contract rate 71.6%. This is an increase of 2.0 points from the previous month but is a drop of 12.0 points from last year.

The average new apartment price was 47,640,000 Yen, down 16.2% from the previous month and down 5.6% from last year. The average price per square meter was 665,000 Yen, down 14.2% from the previous month and down 6.6% from last year.

411 apartments in high-rise buildings (over 20-storeys) were offered for sale, up 93.9% from the previous month but down 78.9% from last year. The contract rate was 78.3%, up 27.4 points from the previous month but down 11.6 points from last year.

Approximately 3,500 apartments are expected to be released for sale in October, which is similar to the 3,506 apartments released for sale in October 2013.Read more

by Zoe Ward

Apartment transactions down for 6th month

According to REINS, 2,938 apartments were sold across greater Tokyo in September, up 38.7% from the previous month but down 5.9% from last year. This is the 6th month in a row to see a decline from one year prior. The average apartment sale price across greater Tokyo was 27,500,000 Yen, down 2.5% from the previous month but up 3.6% from last year. The average price per square meter was 424,600 Yen, down 2.8% from the previous month but up 3.7% from last year. The average building age was 19.81 years.

1,425 apartments were sold in the Tokyo metropolitan area, up 42.1% from the previous month but down 8.6% from last year. This is the 6th month in a row to see a decline from one year prior. The average apartment sale price was 33,780,000 Yen, down 3.1% from the previous month but up 5.7% from last year. The average price per square meter was 568,200 Yen, down 3.3% from the previous month but up 7.6% from last year. The average building age was 18.72 years.Read more

by Zoe Ward

Office vacancy rates in September 2014 - Miki Shoji

According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 5.65% in September, down 0.37 points from the previous month and down 2.25 points from last year. This is the first time since February 2009 that vacancy rates had dropped to the 5% range.

The 5% range is considered to be the tipping point between supply and demand. As a result, real estate companies have started to raise rents. Mitsubishi Jisho have begun seeking an increase of rent of around 5 ~ 10% in the 30 buildings they own in the Marunouchi and Otemachi business district in front of Tokyo Station. Mori Building have also started negotiating with tenants in relatively new buildings for higher rents. Mitsui Fudosan are also setting higher rents for new leases.

Meanwhile, office tenants continue to seek ways to control costs and mid-size and regional building owners are hesitant to raise rents. While vacancy rates have fallen sharply, rents are not increasing at the same speed.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - October 2014

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in October was 5.0%, down 0.6 points from the previous month and down 0.8 points from last year. The average gross yield across Tokyo was 6.9%, 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 797,243 Yen/sqm as of October 1, down 0.9% from the previous month but up 15.9% from last year. The average asking price for land was 1,278,181 Yen/sqm, down 0.07% from the previous month but up 22.4% from last year.Read more

by Zoe Ward

Secondhand apartment prices in August 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 41,930,000 Yen in August, up 0.5% from the previous month and up 3.9% from last year. The average apartment age was 22.4 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 58,570,000 Yen, up 0.9% from the previous month and up 8.7% from last year. The average apartment age was 24.4 years.

The average price across greater Tokyo was 28,140,000 Yen, down 0.4% from the previous month but up 0.9% from last year. The average building age was 21.7 years.Read more

by Zoe Ward