New apartment prices up 7.1% in April

On May 20, the Real Estate Economic Institute's issued their report on new apartment sales in greater Tokyo for the month of April.

4,093 new apartments were released for sale during the month, down 2.8% from April 2012 and down 20.4% from last month. Of those, 1,891 apartments were in Tokyo (46.2%), 995 were in Kanagawa Prefecture (24.3%), 764 were in Saitama Prefecture (18.7%) and 443 were in Chiba Prefecture (10.8%).Read more

by Zoe Ward

April rental data - Tokyo Kantei

Tokyo Kantei announced the latest data on rental prices for condominium apartments across Japan. In greater Tokyo, the average monthly rent was 2527 Yen/sqm, down 0.6% from last month, but up 0.9% from April of 2012.

In Tokyo, the average rent did not change from the previous month but was up 1.6% from last year.

In the Kinki Region (Osaka, Hyogo Prefecture) rents are up by 5.8% from April 2012. In Osaka, the average rent of 1898 Yen/sqm in April saw little change from the month before but is 6.3% higher than last year. Rents in Kobe City are up by a staggering 9.5% from last year.Read more

by Zoe Ward

Secondhand apartment prices in April - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in greater Tokyo in April was 27,700,000 Yen (272,000 USD), down 0.4% from last month and down 4.3% from April 2012. 

In Tokyo, the average asking price was 36,290,000 Yen (357,000 USD), up 0.1% from last month but down 2.2% from last year. Osaka City is one of the few places that has seen asking prices increase from 12 months ago, with the average price up 1.2% from April 2012. Prices in Osaka's central 6 wards have increased by 6.8% over the year.Read more

by Zoe Ward

Japan's high-rise apartment market, March 2013

Grand Front Osaka (2013)

According to the latest data from the Real Estate Economic Institute's report on the high-rise apartment market, there are over 96,500 apartments in buildings over 20 stories tall either under construction or in the planning stages across Japan.

273 high-rise residential buildings are expected to be completed from 2013 onwards, with a total of 96,512 individual apartments. This is an increase of 38 buildings and 14,374 apartments from March 2012.Read more

by Zoe Ward

Second-hand apartment prices up 1.4% in April

According to REINS, the average sale price of a second-hand apartment in greater Tokyo in April was 25,560,000 Yen, up 1.4% from April 2012, but down 1.5% from last month. The average price per square meter was 393,600 Yen, up 2.5% from last year but down 0.9% from last month. 

Chiba saw the biggest change in prices over 12 months, with the average price up 7.3% to 17,620,000 Yen. The average price per square meter increased by 8.1% to 243,900 Yen.

Apartment prices in Tokyo's Chiyoda, Chuo and Minato-ku were down 3.4% from April 2012 to 43,840,000 Yen, while the price per sqm was down 0.5% to 767,000 Yen.Read more

by Zoe Ward

Apartment prices skyrocket in Sendai

According to the latest data released by Tokyo Kantei, the average list price of a second-hand apartment in Sendai City in the first quarter of 2013 is 35.5% higher than in early 2011.

Prior to the Tohoku disaster, average apartment prices had dropped to 565,000 Yen per Tsubo* (171,200 Yen/sqm). Following the disaster, prices have since risen to 766,000 Yen per Tsubo (232,100 Yen/sqm).Read more

by Zoe Ward

Office vacancy rates in April - Miki Shoji

According to Miki Shoji's Office Report for April, 2013, vacancy rates improved but rents continued to fall. The office vacancy rate in Tokyo's central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) dropped by 0.02 points to 8.54%. This is the second month of decline. The vacancy rate in brand new buildings was 17.31%, down 5.93 points from last month. Read more

by Zoe Ward