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.
Average apartment rent in January 2017
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,681 Yen/sqm in January 2017, down 1.4% from the previous month but up 4.4% from last year. The average apartment size was 60.24 sqm and the average building age was 20.3 years.
In the Tokyo metropolitan area, the average monthly rent was 3,186 Yen/sqm, down 0.4% from the previous month but up 1.9% from last year. The average apartment size was 58.03 sqm and the average building age was 18.4 years.
In Tokyo’s 23 wards, the average monthly rent was 3,330 Yen/sqm, down 0.7% from the previous month but up 1.5% from last year. This was the first time in 3 months to see a decrease, although prices have remained fairly constant around the 3,300 Yen/sqm range since August 2016. The average apartment size was 57.65 sqm and the average building age was 17.8 years.
Tokyo apartment asking prices in December 2016
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 December 2016, up 0.6% from the previous month and up 9.1% from 2015. The average building age was 22.5 years.
In the Tokyo metropolitan area, the average asking price was 48,380,000 Yen, up 0.6% from the previous month and up 4.7% from 2015. The average building age was 22.0 years.
In Tokyo’s 23 wards, the average asking price was 53,280,000 Yen, up 0.9% from the previous month and up 3.6% from 2015. The average building age was 21.9 years. This is the highest level seen since record-keeping began in 1997.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,100,000 Yen, up 0.6% from the previous month and up 2.3% from 2015. The average building age was 20.0 years.
Average apartment rent in December 2016
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,720 Yen/sqm in December 2016, down 0.7% from the previous month but up 3.5% from December 2015. The average apartment size was 59.84 sqm and the average building age was 20.2 years.
In the Tokyo metropolitan area, the average monthly rent was 3,198 Yen/sqm, down 0.4% from the previous month but up 1.0% from 2015. The average apartment size was 57.69 sqm and the average building age was 18.2 years.
In Tokyo’s 23 wards, the average monthly rent was 3,353 Yen/sqm, up 0.1% from the previous month and up 1.3% from last year. The average apartment size was 57.02 sqm and the average building age was 17.7 years.
Rents in Yokohama, Kobe and Nagoya are all down around 1% from 12 months prior.
Tokyo apartment asking prices in November 2016
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo was 35,470,000 Yen in November 2016, down 2.0% from the previous month but up 8.3% from 2015. The average building age was 22.5 years.
In the Tokyo metropolitan area, the average asking price was 48,090,000 Yen, down 0.9% from the previous month but up 5.7% from 2015. The average building age was 22.1 years.
In Tokyo’s 23 wards, the average asking price was 52,810,000 Yen, up 0.7% from the previous month and up 4.3% from 2015. This is the first time in 5 months to see an increase in asking prices from the previous month. The average building age was 22.1 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 72,660,000 Yen, up 3.1% from the previous month and up 3.0% from 2015. The average building age was 20.1 years.
Average apartment rent in November 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,738 Yen/sqm in November, up 1.5% from the previous month and up 4.3% from last year. This is the fifth consecutive month to see a month-on-month increase in rents. The average apartment size was 59.12 sqm and the average building age was 20.0 years.
In the Tokyo metropolitan area, the average monthly rent was 3,312 Yen/sqm, up 1.9% from the previous month and up 1.7% from last year. The average apartment size was 56.78 sqm and the average building age was 18.1 years.Read more