Tokyo Apartment Sales in November 2016
The following is a selection of apartments that were sold in central Tokyo during the month of November 2016:Read more
New lending for real estate in Japan reaches record high in 2016
New lending by banks to the real estate sector in Japan in the April-September period was 7.706 trillion Yen (approx. 68.9 billion USD), up 14.7% from the same period in 2015 and exceeding levels seen during Japan’s bubble economy in the 1980s for the second year in a row.
Total new lending by banks and shinkin banks across all industries was 27.376 trillion Yen.Read more
Tokyo apartment asking prices in October 2016
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in October 2016 was 36,210,000 Yen, up 2.6% from the previous month and up 13.3% from last year. This is the 10th month in a row to record an increase from the previous month. The average building age was 22.4 years.
In the Tokyo metropolitan area the average asking price was 48,550,000 Yen, up 1.0% from the previous month and up 8.8% from last year. The average building age was 22.0 years.
In Tokyo’s 23 wards the average asking price was 52,450,000 Yen, down 0.4% from the previous month but up 5.4% from last year.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 70,460,000 Yen, down 2.1% from the previous month but up 1.1% from last year.
In central Osaka, asking prices were down for the 3rd month in a row. Although the decrease may partly be due to an increase in older apartments, the price increase of relatively newer buildings appears to have slowed as prices appear to be peaking out. Central Nagoya, however, saw prices increase for the fourth month in a row.
Tokyo apartment sale prices increase for 49th month
According to REINS, 3,339 second-hand apartments were sold across greater Tokyo in October, up 6.0% from the previous month and up 16.1% from last year. The average sale price was 31,360,000 Yen, up 0.3% from the previous month and up 6.4% from last year. The average price per square meter was 485,800 Yen, down 1.0% from the previous month but up 6.1% from last year. This is the 46th month in a row to see a year-on-year increase. The average building age was 19.73 years.
In the Tokyo metropolitan area, 1,683 second-hand apartments were sold, up 1.9% from the previous month and up 18.9% from last year. The average sale price was 38,270,000 Yen, down 0.2% from the previous month but up 3.8% from last year. The average price per square meter was 638,900 Yen, down 1.4% from the previous month but up 3.2% from last year. This is the 49th month in a row to see a year-on-year increase. The average building age was 18.87 years.
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 193 second-hand apartments were sold, up 1.6% from the previous month and up 7.8% from last year. The average sale price was 58,640,000 Yen, down 10.9% from the previous month but up 2.5% from last year. The average price per square meter was 1,020,500 Yen, down 6.7% from the previous month and down 1.9% from last year. The average building age was 14.64 years.
The most expensive addresses in Tokyo to buy an apartment
Tokyo Kantei ranked the most expensive neighbourhoods in Tokyo to buy a second-hand apartment. Central Tokyo’s prime areas dominated the rankings, with 17 of the areas located in Minato Ward, 13 in Shibuya and 11 in Chiyoda.
MOTOAZABU
In top spot was the Motoazabu address in Minato Ward with an average apartment price of 2,133,000 Yen/sqm (1,855 USD/sq.ft). The most expensive apartment in this neighbourhood was 3,063,000 Yen/sqm and the cheapest was 1,093,000 Yen/sqm.Read more