Tokyo Apartment Sales in July 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2021:
Average discount on an apartment sold in 2020
According to Tokyo Kantei, the average percentage discount between the list price and sale price of a second-hand apartment across greater Tokyo reached a 10-year low in the second half of 2020. In other words, discounts are shrinking.
Tokyo apartment inventory and sales prices between 2010 and 2021
REINS, which collects sales data reported to their database used by agents across Japan, has published some interesting charts showing movements in the existing apartment market in greater Tokyo between July 2010 and June 2021. This may be useful to readers new to researching the real estate market in Tokyo.
Average asking price of an apartment in Tokyo hits new historic high
The average asking price of a 70 sqm second-hand apartment across greater Tokyo reached 41,140,000 Yen in June, according to Tokyo Kantei. This is the highest level seen since the company began recording data in 2002, and beating a previous high seen in May.
New apartment supply up 25% in June
According to the Real Estate Economic Institute a total of 1,939 brand-new apartments were released for sale across greater Tokyo (Tokyo, Saitama, Kanagawa, Chiba) in June, down 24.8% from the previous month but up 25.7% from last year. This is 14% lower than the number supplied in June 2019 and 27% lower than the supply in June 2018.
Central Tokyo apartment sale prices up 30% in June
The second-hand apartment market across greater Tokyo continued to see shrinking inventory and rising sale prices in June.
Myths about Tokyo’s residential real estate market during the pandemic
One of the most frequently asked questions we have been receiving over the past 17-ish months has been about the pandemic and its effects on the residential property market here in Japan and in Tokyo. Let’s take a look at some of the arguments we hear.