Central Tokyo apartment sale prices reach record high in September
According to REINS, a total of 3,589 second-hand apartments were reported to have sold across greater Tokyo in September, up 38.9% from the previous month and up 10.6% from last year. This is the 4th month in a row to record a year-on-year increase in transactions. The average sale price was 34,630,000 Yen, up 0.1% from the previous month and up 5.2% from last year. The average price per square meter was 537,900 Yen, down 0.2% from the previous month but up 4.7% from last year.
Tokyo Apartment Sales in September 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2019:
Supply of investment-grade apartments drops 30%
According to the Real Estate Economic Institute, a total of 71 brand-new investment-grade apartment buildings containing 3,196 units were released for sale across greater Tokyo in the first half of 2019. This is a 23.7% drop in the number of buildings and 30.9% drop in the number of units from the first half of 2018.
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.