Tokyo apartment asking prices in May 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,320,000 Yen in May, up 0.8% from the previous month and up 1.7% from last year. The average building age was 23.7 years.Read more
Japan’s high-rise apartment market from 2018 to 2022 onwards
According to the Real Estate Economic Institute, there are currently 108,757 apartments in 294 high-rise buildings planned for completion across Japan from 2018 onwards. This is an increase of 9 buildings and 2,436 apartments from the previous survey point in March 2017.
73.8% of these apartments are centered in the greater Tokyo area, a 4.8 point decrease from 2017. Tokyo’s 23 wards accounted for a 51.1% share of the nationwide total, a 2.5 point decrease from last year. Chuo ward has the largest forecast supply with 12,514 apartments planned in the coming years, 22.5% of the total. This supply is limited to just 14 buildings, with an average of 894 apartments per building. Minato ward was in second place with 11,401 apartments planned in 33 buildings (an average of 345 apartments per building).Read more
New apartment prices across greater Tokyo hit highest price since 1990
According to a report issued by the Real Estate Economic Institute on April 16, the average price of a brand new apartment across greater Tokyo was 59,210,000 Yen in fiscal 2017, an increase of 6.9% from 2016 and the highest level seen since 1990 when the average price peaked at 62,140,000 Yen. High labor and construction costs along with rising land prices have been a major contributor to the high sale prices of apartments in and around the capital.
A total of 36,837 brand new apartments were released for sale, a 1.1% increase from 2016 and the first increase seen in four years. This is still far short of the peak supply of 95,479 apartments seen in 2000. The average price per square meter was 864,000 Yen, up 7.9% from 2016.Read more
Apartment asking prices in Tokyo in February 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 February 2018, showing no change from the previous month but up 0.4% from last year. The average building age was 23.4 years.Read more
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
New apartment prices in Greater Tokyo drop 20% in January
According to the Real Estate Economic Institute, 1,934 brand new apartments were released for sale across greater Tokyo in January, down 70.2% from the previous month but up 39.7% from January 2017.
The average sale price was 52,930,000 Yen, down 23.4% from last year. The average price per square meter was 787,000 Yen, down 19.3% from last year. In January 2017, new apartment prices saw a steep jump from the year before, with prices rising by 24.1%. If several high-end projects are released onto the market it can pull up average prices for the month.Read more
Tokyo apartment asking prices reach highest level since 1994
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 35,770,000 Yen in 2017, up 2.9% from 2016 and the fourth year in a row to record a year-on-year increase.
In the Tokyo metropolitan area the average asking price was 48,250,000 Yen, up 1.3% from 2016. This is the highest level seen since 1994. This is being supported by a number of investors buying apartments off-the-plan and then listing them for resale at prices higher than what they paid for them.Read more