Central Tokyo apartment transactions up 11.9%
According to REINS, the average sale price per square meter for a second-hand apartment sold across greater Tokyo in September reached 691,000 Yen, a 11.2% increase from last year and the 29th month in a row to see a year-on-year increase.
Tokyo Apartment Sales in September 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2022:
Revisiting small hotel listings now that borders are about to reopen
Starting October 11, Japan’s inbound tourism restrictions introduced during the pandemic will be fully lifted with entry procedures returning to pre-pandemic norms. With inbound tourism about to kick into high gear, let’s take an updated look at the smaller hotels that have been listed for sale recently. A note to readers: you won’t find information published online about larger or higher quality assets available for purchase as information on those listings cannot be shared publicly.
Tokyo apartment asking prices increase for 26th month
Apartment prices continue to rise in Tokyo’s 23 wards, with Tokyo Kantei reporting that the average asking price of a 70 sqm (753 sq.ft) second-hand apartment reached 68,840,000 Yen in August. This is a 0.6% increase from the previous month and a 7.1% increase from last year. It’s also the 26th month to see an increase. This may be partly due to the upcoming Autumn sales season - typically the second busiest time of the year for home sales.
New apartment listings drop 40% in August
The number of brand-new apartments released for sale across greater Tokyo in August dropped 40.1% from last year to just 1,162 units. This time last year saw several large-scale projects hit the market as the capital was emerging from a state of emergency.
Fewer foreclosures in first half of 2022
The number of real estate foreclosure auctions held by the Tokyo District Court in the first half of 2022 was just 365, down from 407 in the same period in 2021.
Residential land prices increase for first time in 31 years
Japan’s Standard Land Price for residential land has increased for the first time in 31 years, according to the data released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) yesterday.