Tokyo second-hand apartment sale prices up for 53rd month in a row
According to REINS, 3,461 second-hand apartments were sold across greater Tokyo in February, up 21.0% from the previous month but down 2.2% from last year. The average sale price was 31,520,000 Yen, up 0.4% from the previous month and up 3.5% from last year. This is the 50th month in a row to see a year-on-year increase. The average price per square meter was 492,900 Yen, down 0.1% from the previous month but up 4.6% from last year. This is the 53rd month in a row to see a year-on-year increase. The average building age was 20.38 years.
In the Tokyo metropolitan area, 1,784 second-hand apartments were sold, up 19.3% from the previous month and up 1.4% from last year. This is the 11th month in a row to see a year-on-year increase in transactions. The average sale price was 38,670,000 Yen, up 1.3% from the previous month and up 4.1% from last year. The average sale price per square meter was 651,300 Yen, up 0.5% from the previous month and up 5.2% from last year.Read more
Average age of an apartment sold in Tokyo in 2016 increases from previous year
According to REINS the average age of a second-hand apartment sold in greater Tokyo in 2016 was 20.26 years, up 0.13 years from 2015. The average age of an apartment listed for sale during the year was 22.32 years, up 0.27 years from 2015. Apartments less than 5 years old made up 9.5% of all second-hand apartment sales in 2016, up 0.8 points from 2015. Apartments over 30 years old accounted for 24.3% of all sales, showing no change from the previous year.Read more
Tokyo Apartment Sales in February 2017
The following is a selection of apartments that were sold in central Tokyo during the month of February 2017:Read more
Japan’s new apartment supply in 2016 reaches 24-year low
The supply of brand new apartments released for sale across Japan in 2016 reached the lowest level seen since 1992. Transactions of second-hand apartments, however, reached a record high with sales up 6.9% in greater Tokyo and the highest level seen since record-keeping began.
According to the Real Estate Economic Institute, a total of 76,993 new apartments were released for sale across the country, down 1.4% from 2015. This was the 3rd year in a row to see a year-on-year decline in supply.Read more
Tokyo apartment asking prices in January 2017
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,680,000 Yen in January 2017, showing no change from the previous month but up 6.9% from last year. The average building age was 22.4 years.
In the Tokyo metropolitan area, the average asking price was 48,240,000 Yen, down 0.3% from the previous month but up 3.9% from last year. The average building age was 22.0 years.
In Tokyo’s 23 wards, the average asking price was 53,170,000 Yen, down 0.2% from the previous month but up 3.0% from last year. This is the first time in 3 months to record a month-on-month decrease. The average building age was 21.8 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 72,820,000 Yen, down 0.4% from the previous month but up 2.0% from last year. The average building age was 20.1 years.
New apartment prices in Tokyo up 25% in January
According to the Real Estate Economic Institute, 1,384 new apartments were released for sale across greater Tokyo in January, down 80.2% from the previous month and down 7.4% from last year. 852 apartments were sold, resulting in a contract ratio of 61.6%, down 15 points from the previous month but up 3.0 points from last year.
167 apartments in high-rise buildings (over 20 stories) were released for sale, up 122.7% from last year. The contract ratio was 77.8%, up 45.8 points from last year.
The average price of a new apartment across greater Tokyo was 69,110,000 Yen, up 36.1% from the previous month and up 24.1% from last year. The average price per square meter was 976,000 Yen, up 29.3% from the previous month and up 25.0% from last year.Read more