Tokyo apartment sale prices increase for 69th month
According to REINS, 3,317 second-hand apartments were reported to have sold across Greater Tokyo in June, up 19.1% from the previous month but down 0.5% from last year. The average sale price was 33,200,000 Yen, up 0.5% from the previous month and up 5.0% from last year. The average price per square meter was 519,000 Yen, up 1.6% from the previous month and up 4.6% from last year. This is the 66th month in a row to record a year-on-year increase in sale prices.Read more
Vacant home rate in central Tokyo at 2% or lower
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released their 2018 White Paper on Land for the Greater Tokyo Area on June 8. This year’s report covered the growing problem of vacant homes.
The vacant home issue in Japan refers to unused, idle homes and land in Japan and it is important not to confuse it with rental vacancy rates.
Vacant homes across Greater Tokyo have increased by 43% over the 10 years to 2013, with Ibaraki, Tochigi, Gunma and Yamanashi prefectures seeing a 62% increase, and Saitama, Chiba and Kanagawa seeing a 52% increase. Tokyo saw a 7% increase.Read more
Rosenka land values increase nationwide for 3rd year in a row
This year, Japan’s nationwide rosenka land values increased for the third year in a row with an annual rate of growth of 0.7%. The rate of growth has increased from 2017 which saw 0.4% and 2016 with 0.2%.
The Tokyo metropolitan area saw a 4.0% increase, up from a 3.2% increase seen in 2017. Kyoto Prefecture saw a 2.2% increase and Osaka saw a 1.4% increase. A total of 18 prefectures saw an overall increase in land values in 2018, up from 13 prefectures in 2017. Total real estate transactions by listed companies in 2017 reached 5 trillion Yen (approx. 45 billion USD), up 20% from 2016 and the third highest annual volume in history.Read more
Tokyo apartment asking prices in May 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,320,000 Yen in May, up 0.8% from the previous month and up 1.7% from last year. The average building age was 23.7 years.Read more
Japan land prices increase in 91% of locations - highest share in history
According to the quarterly LOOK report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in the first quarter of 2018, land prices have increased in 91% of the surveyed locations. This is the first time the percentage has exceeded 90% in the history of reporting.
The main factors behind the rising land prices include positive conditions for the office market in central Tokyo, Osaka and Nagoya, major redevelopment projects, surging tourism numbers and expenditure, and strong demand for apartments that are close to transport. These factors are also encouraging investment into the office, retail, hotel and residential sector.Read more
Tokyo apartment rents see 6% year-on-year increase
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,496 Yen/sqm in May 2018, down 0.6% from the previous month but up 6.0% from last year. This is the sixth month in a row to see a year-on-year increase. The average apartment size was 55.79 sqm and the average building age was 18.5 years.Read more
Tokyo apartment sale prices increase for 68th month
According to REINS, 2,785 second-hand apartments were reported to have sold across greater Tokyo in May, down 14.0% from the previous month and down 6.6% from last year. The average sale price was 33,050,000 Yen, down 1.8% from the previous month but up 4.2% from last year. The average price per square meter was 510,700 Yen, down 1.9% from the previous month but up 3.2% from last year. This is the 65th month in a row to see a year-on-year increase in sale prices.Read more