Rosenka land values down 1.8% nationwide
The National Tax Agency announced the 2013 Rosenka land valuations on July 1. Although the average land value nationwide fell for the 5th year in a row, the rate of decline is slowing. Rosenka land values were down 1.8% across Japan in 2013, after falling 2.8% in 2012 and 3.1% in 2011.
In Tokyo, the rosenka land value dropped by 0.3%, compared to a 1.2% decline in 2012.Read more
Secondhand apartment prices in May - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku in May increased by 0.6% from last month to 39,600,000 Yen (405,000 USD). It is only 0.5% lower than the average price in May 2012.
Prices across Greater Tokyo, however, are down 4.2% from last year to 27,590,000 Yen (282,000 USD). Read more
MLIT Land White Paper 2013
On June 11, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the data from their 2013 White Paper on Land.
According to the report, land prices continue to fall across Japan although the rate of decline is shrinking. A greater number of survey locations saw an increase or stabilisation of land prices.Read more
Average apartment rent in May
According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in May increased by 0.1% from last month to 2,530 Yen per square meter. In Tokyo City, the average monthly rent in May was 2,979 Yen/sqm, up just 1 Yen from last month, but 2.2% higher than it was in May 2012. The average rent in Tokyo's 23 wards was 3,086 Yen/sqm, up 0.1% from last month and 2.2% from last year.Read more
New apartment prices in Tokyo up 4% in May
According to the Real Estate Economic Institute, the market for new condominiums in Tokyo is showing signs of improvement as sales numbers and prices increase in May.
A total of 4,967 new apartments were released for sale in May, up 49.2% from May 2012 and up 21.4% from the previous month. The contract rate (the number of new apartments sold as a percentage of the total number for sale) was 78.1%, which is above the 70% indicator of a good market. The contract rate for apartments in high-rise buildings above 20 stories was 84.6%.Read more
Central Tokyo apartment prices up 10.2% over 12 months
According to REINS, the number of second-hand apartment sales in Tokyo City in May were up 41% from May of last year. Sales of second-hand houses were up 6.6%.
A total of 1,530 second-hand apartments and 273 second-hand houses were sold in Tokyo last month. Read more
Residential yields and vacancy rates in Minato-ku - June 2013
According to listing site Homes, the average yield on an apartment in Minato-ku as of June 2013 was 7.22%. The average yield across Tokyo was 8.3%. The vacancy rate was 9.9% in Minato-ku and 11.0% across Tokyo.Read more