Regional commercial standard land prices increase for first time in 28 years
In 2019, Standard Land Prices for commercial land in Japan’s regional areas recorded a 0.3% increase - the first time positive growth has been seen since 1991.
New apartment supply up 21% in August
According to the Real Estate Economic Institute, 1,819 brand-new apartments were released for sale across greater Tokyo in August, up 21.1% from last year. This is the first time in eight months to see a year-on-year increase in supply. The boost in supply was largely attributed to the first round of sales in the Harumi Flag Athlete’s Village, which saw 600 apartments up for sale.
Central Tokyo apartment transactions up 35% in August
According to REINS, a total of 2,584 second-hand apartments were reported to have sold across greater Tokyo in August, up 12.2% from last year. The average sale price was 34,610,000 Yen, up 4.3% from last year. The average price per square meter was 538,800 Yen, up 3.4% from last year and the 7th month in a row to see a year-on-year increase.
New apartment prices in Japan since 1956
For those interested in historic real estate data, Tokyo Kantei has released a graph of new apartment prices across Japan between 1956 and 2018.
Kyoto’s former red-light district now a hotspot for investors
Gojo-rakuen, a former red-light district between Gojo and Kiyomizu-Gojo Stations and along the western side of Kamo River, is now a hotspot for fast-moving investors. The neighborhood is undergoing rapid gentrification into a trendy tourist district, while land values are seeing strong growth.
Tokyo Apartment Sales in August 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of August 2019: