Compact-type apartment market rebounding after 7 years

The compact-type apartment market in Tokyo is rebounding after seven years, but is it sustainable?

Sales of compact-type apartments (those with a floor area of 30 ~ 50 sqm) in Tokyo's 23 wards are reaching levels not seen since the mid-2000s. According to consulting firm Total Brain, the average purchase application ratio (the percentage of apartments that received applications to purchase within the first month of sales) was 71.3% for apartments released for sale between January and August 2013. This is the first time that the ratio has reached the 70% range since 2006 and is edging closer to the record high of 71.4% seen in 2005. Read more


October rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,531 Yen/sqm in October, down 0.6% from the previous month, but up 2.8% from last year. The average apartment size was 59.14 sqm (636 sqft) and the average building age was 18.9 years.Read more


Second-hand apartment prices in central Tokyo up 12.9% from last year

According to REINS, the average price per square meter of a secondhand apartment sold in Tokyo City in October was 537,200 Yen, up 10.4% from last year and up 1.7% from the previous month. The average sale price was 32,420,000 Yen, up 6.3% from last year and up 1.4% from last month.

A total of 3,066 secondhand apartments were sold across greater Tokyo, up 11.7% from last year. 1,447 apartments were sold in Tokyo City, up 13.1% from last year.Read more


Residential yields and vacancy rates in Minato-ku - November 2013

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in November was 5.8%, unchanged from the previous month. The average yield across Tokyo was 7.6%, down 0.1 points from October.Read more


Office vacancy rates in October

According to Miki Shoji's Office Report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.56% in October, down 0.34 points from the previous month and down 1.18 points from last year.

This is the lowest level seen in over 4 years. Read more


Minato and Shibuya apartment sales (first half 2013)

According the MLIT, the average transaction price of an apartment (including both new and old) in the first half of 2013 was 55,143,800 Yen (919,600 Yen/sqm) in Minato-ku and 35,182,100 Yen (814,200 Yen/sqm) in Shibuya-ku.Read more


40% of Tokyo's existing apartments within 8km of Harumi

In October, Tokyo Kantei published a report focusing on the existing apartment stock that lies within an 8km radius of the man-made island of Harumi in Tokyo Bay.

According to the data, there were 10,195 existing apartment buildings containing 540,057 apartments within 8km of Harumi. 40.5% of Tokyo's 23-ku apartment stock is located within this zone. Current estimates show another 10,000 apartments are expected to be supplied in the bayside area in the next few years. Read more