Apartment rents in Tokyo increase for 10th month in a row
The average apartment rent in Tokyo’s 23 wards has increased year-on-year for the 10th month in a row. The average monthly rent in September was 3,504 Yen/sqm, up 6.6% from last year and up 1.2% from the previous month. Both Yokohama and Saitama cities saw a decline in year-on-year rents.
Floor space across Japan increases by 0.2% in 2018
According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the total floor space of buildings across Japan totaled 7.73 billion square meters (approx. 83 billion sq.ft) as at January 1, 2018, a 0.2% increase from last year. Housing stock, including both private and public housing, saw a 0.2% rise and accounted for 74.3% of the total.
Greater Tokyo second-hand apartment prices increase for 69th month in a row
According to REINS, 3,244 second-hand apartments were sold across greater Tokyo in September, up 40.9% from the previous month and up 0.7% from last year. The average sale price was 32,920,000 Yen, down 0.8% from the previous month but up 2.0% from last year. The average price per square meter was 513,900 Yen, down 1.4% from the previous month but up 1.4% from last year. This is the 69th month in a row to record a year-on-year increase in prices.
Tokyo Apartment Sales in September 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2018:Read more
Tokyo apartment asking prices in August 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,400,000 Yen in August, up 0.2% from the previous month and up 2.1% from last year. The average building age was 23.9 years.Read more
Nagano's ski resort divide
While Nagano’s urban areas are seeing a slowing in the rate of decline in land prices, one district in the prefecture is seeing no end to eroding land values.
The Hirao district in Yamanouchi Town, known for being home to the Jigokudani Monkey Park and several ski areas, is also home to the steepest drop in both commercial and residential land values in the prefecture. According to the Standard Land Prices issued by the Ministry of Land, Infrastructure, Transport and Tourism, the rate of decline at several survey locations in Hirao worsened in 2018. Land values dropped by between 2 ~ 4% in 2018. In some locations land prices have declined year-on-year since the late 1990s. Read more