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

by Zoe Ward

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

by Zoe Ward

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

by Zoe Ward

Marriott to open W Hotel in Osaka in 2021

On January 10, Sekisui House and Marriott International announced plans for Japan’s first W Hotel. The 337-room W Osaka will open in the Shinsaibashi district in 2021. Room rates have yet to be decided, but it is expected that this will be one of the priciest hotels in Osaka city.

The building will be 117 meters tall with 27 floors and will be designed by Pritzker Prize-winning architect Tadao Ando.Read more

by Zoe Ward

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

by Zoe Ward

Apartment asking prices in Tokyo in November 2017

According to Tokyo Kantei the average asking price of a 70 sqm (753 sq ft) apartment across greater Tokyo was 36,210,000 Yen in November, up 1.1% from the previous month and up 2.1% from last year. The average building age was 23.1 years.

In Tokyo’s 23 wards the average asking price was 53,320,000 Yen, up 0.8% from the previous month and up 1.0% from last year. The average building age was 22.7 years.Read more

by Zoe Ward

Apartment asking prices in Tokyo in October 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) apartment across Greater Tokyo was 35,810,000 Yen in October 2017, up 0.7% from the previous month but down 1.1% from last year. The average building age was 23.0 years.

In Tokyo’s 23 wards the average asking price was 52,920,000 Yen, showing no change from the previous month but up 0.9% from last year. The average building age was 22.6 years.Read more

by Zoe Ward