Miyakojima’s property boom
Land prices on this tropical island in Okinawa have increased by as much as 50,000% (no, that’s not a typo) over the past four years.
Japan's vacant house ratio reaches 13.6%
On April 26, the Ministry of Internal Affairs and Communications released their housing and land data as of October 2018. This survey is carried out once every five years. According to the report, the nationwide residential vacancy rate was 13.6%, a 0.1 point increase from 2013. The total number of vacant homes across Japan reached 8,460,000, an increase of 260,000 homes over the past 5 years.
Greater Tokyo apartment transactions reach highest level in history
In 2018, reported transactions of second-hand apartments across greater Tokyo reached the highest record in history. There were 37,601 sales reported for the year, up 1.2% from 2017.
Central Tokyo apartment sale prices reach 2nd highest level
According to REINS, 4,117 second-hand apartments were reported to have sold across greater Tokyo in March, up 18.2% from February and up 7.8% from last year. This is the 3rd month in a row to record a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, up 0.3% from the previous month and up 3.6% from last year. The average price per square meter was 539,600 Yen, up 1.3% from the previous month and up 3.6% from last year.
Tokyo Apartment Sales in March 2019
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2019:
New apartment supply in Tokyo drops for second month
According to the Real Estate Economic Institute, a total of 2,323 brand-new apartments were released for sale across greater Tokyo in February, up 22.3% from the previous month but down 6.7% from last year. This is the second month in a row to see a year-on-year decline in supply.