June apartment sales contracts return to high level
According to the Real Estate Economic Institute, the sales contract rate for apartments in Tokyo reached 83.9% in June, 2010 (an increase of 13.7 points from June, 2009). The last time we saw high levels was in August of 2005, when the contract rate was 89.1%.
This year has seen a clear improvement in contract rates, with January ~ June seeing favorable rates over the 70% threshold. The Real Estate Economic Institute believes this trend will continue.
The supply of apartments put up for sale increased by 66.6% compared to the previous year, with the average price being 46.94 million Yen (an increase of 3.3%).
Source: The Asahi Shimbun, July 15, 2010
Average House Listing Prices for May 12, 2010
According to real estate listing site Home's, the average price for a100sqm house in Minato-ku is approximately 101 million Yen, and in Shibuya-ku is approximately 75 million Yen as of May 12, 2010.
Continue reading for details on the average prices for each area in central Tokyo.
Average Apartment Listing Prices for May 12, 2010
According to real estate listing site Home's, the average price for a 70sqm apartment less than 10 years old in Minato-ku and Shibuya-ku is approximately 65~66 million Yen.
Continue reading for details on the average prices for each area in central Tokyo.