New apartment supply in greater Tokyo up 22.3% in November
According to the Real Estate Economic Institute, a total of 5,006 apartments were released for sale in greater Tokyo in November, up 42.8% from the previous month and up 22.3% from last year.
Of those, 3,984 apartments were sold, making the contract rate 79.6%.
The average new apartment price across greater Tokyo was 49,670,000 Yen, up 1.2% from the previous month but down 0.7% from last year. The average price per square meter was 694,000 Yen, down 2.4% from the previous month and down 3.7% from last year.Read more
Second-hand apartment prices in central Tokyo up 35.4% from last year
According to REINS, the average price of a second-hand apartment sold in central Tokyo's 3 wards (Chiyoda, Chuo and Minato) was 50,870,000 Yen in November, up 4.1% from the previous month and up 35.4% from last year. The average price per square meter was 867,000 Yen, up 2.9% from the previous month and up 25.6% from last year. The average apartment age was 16.47 years and the average apartment size was 58.68 sqm (631 sqft). Read more
Residential yields and vacancy rates in Minato-ku - December 2013
According to real estate listing site Homes, the average yield on an apartment in Minato-ku in December was 6.0%, up 0.2 points from last month. The average yield across Tokyo remains unchanged at 7.6%.
The vacancy rate in Minato-ku remains unchanged at 9.9% and 11.0% across Tokyo.
The average asking price of a secondhand apartment was 715,557 Yen/sqm as of December 1, up 1.34% from the previous month. The average asking price for land was 1,071,212 Yen, up 0.17% from last month.Read more
Land prices up in 71% of locations - MLIT LOOK Report
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) published the data on land price movements across Japan for the third quarter in 2013 (July 1 ~ October 1).
The Chika LOOK Report measures land price changes in 150 locations throughout Japan. According to the latest data, 107 locations (71.3% of the total) saw an increase in land prices. This is higher than the last quarter which saw 99 locations with an increase in land prices. 34 locations (22.7%) saw no change in prices, while 9 locations (6%) saw a fall in land prices.Read more
Price/earnings ratio rankings for new apartments in Tokyo
Tokyo Kantei published data on the price/earnings ratio (PER) for brand new apartments in the greater Tokyo area.
According to their data, the PER in greater Tokyo in 2013 was 23.98, up 0.15 points from last year. The average rent for a 70 sqm apartment was 167,685 Yen/month, up just 0.1%. Meanwhile, the average price of a 70 sqm new apartment was 47,890,000 Yen, up 0.8% from 2012. Read more
Secondhand apartment prices in October - 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 40,660,000 Yen in October, up 0.6% from the previous month and up 3.3% from last year. This is the seventh month in a row where prices have seen a month-on-month increase.
In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 54,580,000 Yen, up 1.0% from the previous month and up 7.0% from last year. The average apartment age was 21.0 years.
New apartment inventory levels reach lowest level in over 23 years
According to the Real Estate Economic Institute, the inventory of unsold new apartments in greater Tokyo in October 2013 was 3,771 apartments. This is the lowest level seen since September 1990.
A total of 3,506 new apartments were released for sale in October, down 41.3% from the previous month but up 21.4% from last year. Of those, 2,790 apartments were sold, making the contract rate 79.6%. This is the first time in five months that the rate has dropped below 80%, but still remains above the 70% figure that indicates favourable market conditions.Read more