Market Information – Page 64 – JAPAN PROPERTY CENTRAL K.K.

Tokyo Apartment Sales in May 2019

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of May 2019:

by Zoe Ward

Local market report: Daikanyama (2019)

Daikanyama is as fashionable and trendy as Omotesando, but with a more laidback vibe on weekends. Sitting in a prime position between Ebisu and Shibuya Stations, it is a great place for a lucky few to call home. It is extremely difficult to find suitable homes and apartments on the market in this neighborhood due to a naturally limited inventory (a lot of the neighborhood is low-density), while many of the residents tightly hold onto their homes for the long-term.

Let’s take a look at the current real estate market conditions.

by Zoe Ward

New apartment supply in Tokyo drops 40% and hits 27-yr low

The total supply of new apartments released for sale across greater Tokyo in April saw a year-on-year drop of 39.3% to just 1,421 apartments. This is the lowest supply seen for the month of April since 1992. The reason for the low supply is due to both developers putting their efforts towards selling current inventory, along with an expectation of low buyer turnout during the 10-day Golden Week holiday.

by Zoe Ward

Holiday home buyers drawn to Kyoto

Kyoto City is fast becoming a hotspot for out-of-towners buying holiday homes.

by Zoe Ward

Price-earnings ratio across Tokyo sees slight increase in 2018

In 2018 the price-earnings ratio (PER) for brand-new apartments in greater Tokyo was 24.96, down from a record high of 28.66 seen in 2016 but up slightly from 24.49 seen in 2017. Almost 80% of the districts around train stations had PERs of over 22, while just 2.5% had PERs of under 18. A high PER means a low rental yield.

The average price of a brand-new 70 sqm (753 sq.ft) apartment across greater Tokyo was 73,440,000 Yen in 2018, up 9.9% from 2017 and up 22.4% from 2016. The average rent of a similarly sized new apartment was 241,631 Yen/month, up 7.4% from 2017 and up 37.6% from 2016.

by Zoe Ward

Greater Tokyo second-hand apartment sales reach highest level in history

Reported sales of second-hand apartments across greater Tokyo in April 2019 reached 3,440 units, up 6.3% from the previous year and the highest level seen for the month of April since REINS began collecting data in 1990.

by Zoe Ward

Sold Out: The Peak Azabu Nagasaka

On April 16, Odakyu Real Estate announced that all apartments in the newly-renovated The Peak Azabu Nagasaka condominium had sold out in March.

by Zoe Ward