August rental data - Tokyo Kantei

The average monthly rent of a condominium apartment in greater Tokyo in August was 2,549 Yen/sqm, up 0.6% from last month and up 3.3% from last year. The average apartment size was 59.35 sqm (639 sqft) and the average apartment age was 18.7 years.

The average rent in Tokyo's 23-ku was 3,096 Yen, down 1 Yen from last month but up 3.3% from last year. The average apartment size was 56.13 sqm (604 sqft) and the average age was 17.4 years.Read more

by Zoe Ward

New apartment prices in August

The Residence Mita. All 90 apartments initially released for sale sold out on the same day.

According to the latest data from the Real Estate Economic Institute, a total of 4,145 brand new apartments were released for sale across greater Tokyo in August, up 53.3% from last year. This is the supply of apartments in the month of August since 2005.

Of those, 3,378 were sold making the contract ratio 81.5%.

Meanwhile, a total of 2,250 second-hand apartments were also sold in greater Tokyo during the month.

The average price of a new apartment was 47,960,000 Yen, up 0.5% from last year. The average price per square meter was 677,000 Yen, down 2% from last year.Read more

by Zoe Ward

Land prices increase for first time in 5 years

The MLIT announced the nationwide standard land prices (kijun-chika) on September 19. These land price surveys are carried out by the prefectural governments each year on July 1.

This year, commercial land prices increased in Tokyo, Osaka and Nagoya for the first time in five years.

Nationwide, the overall land prices were down 1.9%. This is the 22nd year of decline, although the rate has reduced from a 2.7% decline in 2012. The decline is being pulled down by rural or regional area suffering from depopulation, which saw prices drop 2.6% this year. Overall land prices in Japan's three largest cities, however, were up 0.1% after a 1% drop in 2012.Read more

by Zoe Ward

Second-hand apartment prices in central Tokyo up 15.6%

According to REINS, sales of second-hand apartments in greater Tokyo in August were up 16% from last year. A total of 2,250 apartments were sold during the month. The average price was 25,560,000 Yen (260,000 USD), up 3.5% from August 2012, but down 0.6% from last month. The average price per square meter was 400,100 Yen, up 5.3% from last year and up 1.8% from last month.

The average apartment size was 63.88 sqm (687 sqft) and the average building age was 20.08 years.

In Tokyo's central three wards (Chiyoda; Chuo and Minato), the average price per square meter was up 15.6% from the same time  last year to 823,800 Yen.Read more

by Zoe Ward

Resale value rankings for developers

Attractors Lab has ranked the top condominium developers by the average resale value of their apartments. In top place is Marubeni, followed by Taisei-Yuraku Real Estate and Itochu Property Development. Although these are the top ranked developers, they all saw a drop in average resale values since new.

The data is compiled from the average price of the developer's apartments when new and their average price when later resold. Data is only included for developers with over 30 buildings, and for buildings listed for sale from 2001 onwards.

Top developers by resale values:Read more

by Zoe Ward

Tokyo apartment resale values

According to Tokyo Kantei senior researcher Toshiro Nakayama, approximately 90% of an apartment's resale value will be determined by its location.

While there are many finer details of what makes a good location, the most important is how close it is to central Tokyo.

Tokyo Kantei have ranked the resale value of apartments in different areas across Tokyo. The area which is most likely to preserve or even increase the value of an apartment in Minato-ku, which is the highest ranked area for resale values in Tokyo.Read more

by Zoe Ward

Secondhand apartment prices in July - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 39,850,000 Yen in July - up 0.3% from last month and up 1.6% from July 2012. The average apartment age was 20.7 years.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average price in July was 53,280,000 Yen, down 0.3% from last month but 3.4% higher than last year. The average apartment age was 20.9 years.Read more

by Zoe Ward