Price of investment-grade studio apartments reaches record high in 2017
According to Kenbiya, a multi-listing site that specializes in investment properties across Japan, the average asking price of a studio apartment in Tokyo and Osaka in 2017 reached the highest level since record-keeping began in 2006.
The average asking price of a studio apartment in Tokyo’s 23 wards in 2017 was 19,610,000 Yen, up 9% from 2016 and exceeding a previous peak of 18,280,000 Yen recorded in 2015. In Osaka City, the average asking price was 13,810,000 Yen, up 20% from 2016.Read more
Rent in Tokyo jumps 4.2% thanks to supply of new construction
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,474 Yen/sqm in December 2017, up 4.2% from the previous month and up 3.6% from 2016. The increase was caused by a larger share of relatively new buildings which typically command higher rents, along with the release of a large number of brand new high-rise apartment towers in Shinjuku and Shinagawa.Read more
Foreign funds spend 1.1 trillion Yen on Japanese real estate in 2017
In 2017, foreign corporations and funds spent a total of 1.1 trillion Yen (approx. 9.7 billion USD) on real estate acquisitions across Japan, a three-fold increase from 2016 and the first time that the annual volume has exceeded one trillion Yen.Read more
Tokyo apartment sale prices increase for 63rd month
According to REINS 3,011 second-hand apartments were sold across Greater Tokyo in December 2017, up 3.7% from the previous month and up 0.6% from the previous year. The average sale price was 33,200,000 Yen, up 3.7% from the previous month and up 6.3% from 2016. The average price per square meter was 519,400 Yen, up 3.5% from the previous month and up 4.3% from 2016. This is the 60th month in a row to see a year-on-year increase in sale prices. The average building age was 20.85 years.Read more
Our Japan Property Market Report for 2017
Our annual property market report for the past year can be downloaded in PDF format below.
We continued to see property prices rise in 2017, while transactions hit new highs. The luxury residential market in Tokyo has been a star performer and developers are starting to increase their offerings of high-end apartments to cater to demand.
Supporting the real estate market this year were record high foreign tourist numbers, record low office vacancy rates, a surging share market, improving economic conditions and low unemployment figures.
We have compiled our market insights into the following report:Read more
Supply of new apartments in greater Tokyo to increase in 2018
According to a forecast by the Real Estate Economic Institute, a total of 38,000 brand new apartments are expected to be released for sale across greater Tokyo in 2018, up 4.4% from 2017 and the second year in a row to see an increase. Depending on demand for buyers eager to purchase before the consumption tax rate increase in October 2019, supply could reach as high as 40,000 units.Read more
Tokyo Apartment Sales in December 2017
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of December 2017:Read more