New apartment prices in Greater Tokyo up 7.8% in February

According to the Real Estate Economic Institute, 2,490 brand new apartments were released for sale across greater Tokyo in February, up 28.7% from the previous month and up 7.8% from last year. The average sale price was 61,280,000 Yen, up 5.8% from last year. The average price per square meter was 889,000 Yen, up 4.3% from last year.

The contract ratio was 65.0%, down 3.4 points from last year and down 0.2 points from the previous month.Read more

by Zoe Ward

Rent in Tokyo reaches new high in February

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,527 Yen/sqm in February, up 1.1% from the previous month and up 6.0% from last year. This is the highest level seen since record-keeping began in March 2008 and has broken a previous record set in January 2018.Read more

by Zoe Ward

Station access a priority for Japan's double-income households

With the rise of dual-income households, developers are focusing on convenience to transport as buyers place more emphasis on a short commute to work. They are pricing this convenience into new apartments, which may limit the potential for future capital gains.Read more

by Zoe Ward

Tokyo apartment sale prices increase for 65th month

According to REINS, 3,424 second-hand apartments were reported to have sold across greater Tokyo in February, up 29.6% from the previous month but down 1.1% from last year. The average sale price was 33,530,000 Yen, down 0.2% from the previous month but up 6.4% from last year. The average price per square meter was 511,900 Yen, down 0.8% from the previous month but up 3.9% from last year. This is the 62nd month in a row to see a year-on-year increase in sale prices.

1,762 second-hand apartments were sold in the Tokyo metropolitan area, up 25.6% from the previous month but down 1.2% from last year. The average sale price was 41,540,000 Yen, up 0.9% from the previous month and up 7.4% from last year. This is the highest sale price seen since REINS began publishing data in 2001. The average price per square meter was 677,100 Yen, down 0.5% from the previous month but up 4.0% from last year. This is the 65th month in a row to record a year-on-year increase in sale prices.Read more

by Zoe Ward

Only 0.9% of new apartments supplied in Tokyo in 2017 were over 100 sqm (1,076 sq.ft) in size

Finding a large apartment to buy in Tokyo can be a lot more challenging than many foreign buyers may initially realize. This is due to the fact that the majority of Japanese developers focus on building smaller apartments to cater to domestic demand. A typical three bedroom apartment for a Japanese family would be around 70 sqm (753 sq.ft).

According to Tokyo Kantei, only 0.9% of the new apartments supplied across greater Tokyo in 2017 were over 100 sqm (1,076 sq.ft) in size, up 0.1 points from 2016 but down 0.5 points from 2015.

90.3% of the apartments were under 80 sqm (861 sq.ft) in size.Read more

by Zoe Ward

Tokyo Apartment Sales in February 2018

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of February 2018:Read more

by Zoe Ward

Apartment asking prices in Tokyo in January 2018

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) apartment across greater Tokyo was 35,980,000 Yen in January 2018, down 0.5% from the previous month but up 0.8% from last year. The average building age was 23.2 years.Read more

by Zoe Ward