Second-hand apartment sales in January - REINS

According to REINS, 2,688 secondhand apartments were sold across greater Tokyo in January, down 7.3% from the previous month but up 6.8% from January 2013. This is the 17th month in a row to see a year-on-year increase in sales.  

The average sale price was 26,730,000 Yen, up 4.4% from December and up 1.2% from last year. The average price per square meter was 415,300 Yen, up 2.6% from December and up 4.5% from last year. The average apartment age was 19.38 years.Read more

by Zoe Ward

Two sides to Tokyo's improving property market

Greater Tokyo New Apartments 2004 2014

Tokyo's apartment market entered bullish territory in 2013, but 2014 could bring challenges for for some developers. 

According to the Real Estate Economic Institute, 56,476 new apartments were released for sale across greater Tokyo in 2013, up 23.8% from 2012 and edging closer to the recent peak of 61,021 apartments released in 2007. The contract rate was 79.5%, up 3.2 points from the previous year (anything over 70% indicates positive market conditions). 56,000 new apartments are expected to hit the market in 2014.Read more

by Zoe Ward

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

Tokyo apartment gross yield Homes

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in February was 5.4%, down 0.4 points from January. The average gross yield across Tokyo was 7.4%, down 0.1 points the previous month.

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by Zoe Ward

Strong apartment sales in Okinawa

Ryux Tower Okinawa
Ryu:X Tower

Okinawa is seeing high demand for new apartments, with real estate agents reporting properties being sold without any marketing and a severe shortage in stock levels.

All 338 apartment in Ryu:X West Tower in Omoromachi, Naha City, have sold out, and 90% of the apartments offered for sale in the East tower are already under contract. The two 30-storey towers contain 676 apartments. The West Tower was completed in September 2013 and the East Tower will be completed in 2015.Read more

by Zoe Ward

Looking back at the new apartment market in Tokyo in 2013

According to the Real Estate Economic Institute's report on the new apartment market in greater Tokyo, a total of 56,476 apartments were released for sale over the year, up 23.8% from 2012. This is the first time in six years that this number has exceeded 50,000.  The previous high was in 2000 with 95,635 apartments released for sale.

In Tokyo's 23-ku, 28,338 new apartments were released for sale, up 46.1% from the previous year. Read more

by Zoe Ward

Secondhand apartment prices in December (and 2013 average) - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in greater Tokyo in 2013 was 27,910,000 Yen, down 2.5% from the previous year. The average apartment age was 20.2 years. For the month of December, the average price was 28,310,000 Yen, up 0.3% from the previous month and up 0.4% from December 2012.

The average price in Tokyo's 23 wards in 2013 was 39,950,000 Yen, up 0.5% from 2012. The average building age was 20.5 years. For the month of December, the average asking price was 40,660,000 Yen, up 0.1% from the previous month and 2.3% higher than December 2012.Read more

by Zoe Ward

Second-hand apartment sales in December - REINS

According to REINS, 2,900 second-hand apartments were sold across greater Tokyo in December 2013, up 22.7% from the previous year, but down 7.1% from the previous month. The average sale price was 25,600,000 Yen, up 2.5% from the previous year but down 3.7% from November. The average price per square meter was 404,800 Yen, up 5.6% from last year but down 1.8% from November.

There were also more sales at the top end of the market. In the 4th quarter of 2013, 60 apartments over 100 million Yen were sold in the Tokyo metropolitan area, comprising 1.4% of the total. This is an increase of 131% from the same quarter in 2012. 141 apartments sold for between 70 ~ 100 million Yen, up 56.7% from 2012.

The average price of a second-hand apartment sold in central Tokyo's 3 wards (Chiyoda, Chuo and Minato) in December was 44,600,000 Yen, up 3.1% from last year but down 12.3% from the previous month. It is worth noting that the average size of an apartment sold in December was 9% smaller than the previous month.Read more

by Zoe Ward