Tokyo apartment sales up 110.4% in April
According to REINS, a total of 3,428 second-hand apartments were reported to have sold across greater Tokyo in April, up 110.4% from last year. This time last year the Tokyo area was under the first state of emergency issued since the start of the pandemic. Companies sent workers home, and real estate developers and brokerages temporarily closed offices for April and May. The 3rd state of emergency started on April 25, 2021, but it is business as usual this time around for the majority of real estate agencies.
Quick real estate news summary for the week
Tokyo’s foreign resident population continues to fall, apartment rents remain stable, and a hot spring ryokan sells for 2.75 billion Yen. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Curious how a view of Tokyo Tower affects apartment prices?
It should come as no surprise that an apartment with views towards Tokyo Tower comes with a higher price. Although it no longer functions as a television transmission tower (those duties ended in 2018), it is perhaps the most admired landmark in Tokyo.
Quick real estate news summary for the week
Tokyo house prices increase by 9.2%, office vacancies climb for 14th month, and 68 major developments planned for Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Firms accelerate sales of real estate holdings
As anticipated, some of Japan’s major corporations are fastening the sell-off of their prime real estate holdings as the effects of the pandemic continue. Finding buyers for these key assets is easy, with worldwide monetary easing seeing wealthy funds on the hunt for real estate in safe and stable environments.
Tokyo Apartment Sales in April 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of April 2021:
New apartment price/sqm in 2020 hits 30-year high
According to the Real Estate Economic Institute, the total number of brand-new apartments released for sale across greater Tokyo in 2020 increased for the first time in 3 years. 29,032 apartments were supplied, up 1.7% from 2019.