Tokyo Apartment Sales in May 2018
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of May 2018:Read more
Forecast of new apartment prices in Tokyo from 2018 onwards
The Japan Real Estate Institute (JREI) has issued an updated medium-term forecast for the price of brand new apartments in Tokyo’s 23 wards over the next seven years. Price predictions have been revised updwards from last year’s forecast. In 2018, average new apartment prices are expected to be 994,000 Yen/sqm, up 0.5% from 2017 and 4.4% higher than their previous forecast.Read more
Tokyo apartment asking prices in April 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,040,000 Yen in April, down 0.4% from the previous month but up 1.2% from last year. The average building age was 23.4 years.Read more
Housing starts in Kyoto drop 13.1% in 2017 as hotel construction overtakes apartments
Housing starts in Kyoto Prefecture saw a year-on-year drop of 13.1% in 2017 to 14,790 units, the second lowest level seen in the past 10 years. This is also the second year in a row to see a decline in new construction.
This has been attributed to a steep rise in the construction of hotels in Kyoto’s city centre, with developers choosing to focus on building hotels rather than apartment buildings. Construction of apartments has halved as a result. The tourism boom and demand for hotels has put pressure on land prices, causing them to reach a level where the land is no longer profitable for an apartment development. Read more
Average rent in Tokyo increases for 5th month in a row
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,517 Yen/sqm in April, up 0.3% from the previous month and up 5.9% from last year. Rents have remained above the 3,500 Yen/sqm range since February. This is the fifth month in a row to see a year-on-year increase.Read more
The most expensive districts in Tokyo to buy a new home or apartment
Tokyo Kantei has issued a ranking of the districts across greater Tokyo based on the average price of a brand new home or apartment in 2017.
MINATO
In top spot for both lists was Minato ward in central Tokyo where a brand new house had an average price of 120,120,000 Yen (approx. 1.09 million USD) and an average floor area of 106.58 sqm (1,147 sq.ft). A new apartment had an average price of 140,450,000 Yen (approx. 1.28 million USD) and an average size of 75.02 sqm (807 sq.ft).Read more
Tokyo apartment sale prices increase for 67th month
According to REINS, 3,237 second-hand apartments were reported to have sold across greater Tokyo in April, down 15.2% from the previous month but up 2.3% from last year. March is typically the busiest month of the year for apartment sales, so it is normal to see a drop in transactions in the following month. The average sale price was 33,640,000 Yen, down 0.1% from the previous month but up 3.7% from last year. The average price per square meter was 520,400 Yen, down 0.1% from the previous month but up 3.3% from last year. This is the 64th month in a row to see a year-on-year increase in sale prices.
1,679 apartments were sold in the Tokyo metropolitan area, down 15.4% from the previous month but up 4.4% from last year. The average sale price was 41,840,000 Yen, down 1.0% from the previous month but up 2.5% from last year. The average price per square meter was 689,300 Yen, down 1.8% from the previous month but up 1.6% from last year. This is the 67th month in a row to record a year-on-year increase in sale prices.Read more