Tokyo apartment asking prices in September 2016
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in September 2016 was 35,300,000 Yen, up 0.3% from the previous month and up 11.7% from last year. This is the 9th 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 48,050,000 Yen, down 0.1% from the previous month but up 9.4% from last year. The average building age was 22.1 years.
In Tokyo’s 23 wards, the average asking price was 52,640,000 Yen, down 0.3% from the previous month but up 7.1% from last year. The average building age was 22.0 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,980,000 Yen, down 0.1% from the previous month but up 4.0% from last year. The average building age was 20.1 years.
Average apartment rent in September 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,663 Yen/sqm in September, up 0.1% from the previous month and up 0.6% from last year. The average apartment size was 60.05 sqm and the average building age was 20.0 years.
In the Tokyo metropolitan area, the average monthly rent was 3,230 Yen/sqm, up 0.2% from the previous month and up 1.5% from last year. The average apartment size was 57.39 sqm and the average building age was 18.0 years.Read more
Tokyo apartment asking prices in August 2016
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in August 2016 was 35,210,000 Yen, up 0.8% from the previous month and up 13.0% from last year. This is the 8th 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 48,090,000 Yen, up 0.5% from the previous month and up 10.5% from last year. The average building age was 22.0 years.
In Tokyo’s 23 wards, the average asking price was 52,790,000 Yen, showing no change from the previous month but up 8.5% from last year. The average building age was 21.9 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 72,030,000 Yen, up 0.3% from the previous month and up 5.5% from last year. This is the 3rd month in a row to record an increase from the previous month.
Commercial standard land prices in Japan’s big cities increase for 4th year in a row
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced this year’s Standard Land Prices on September 20.
Nationwide, land prices declined for the 25th year in a row with a 0.6% decrease, although the rate of decline is slowing. Meanwhile, commercial land prices stopped their downwards trend for the first time in 9 years.
Land prices in Japan’s urban centres of Tokyo, Osaka and Nagoya continued to benefit from booming foreign tourist numbers, redevelopment and infrastructure projects, shrinking office vacancy rates, and monetary easing.
Commercial land prices in these three cities increased by 2.9%, representing a fastening pace after 2.3% growth in 2015 and 1.7% growth in 2014. In the Tokyo metropolitan area, commercial land prices increased by 4.1% in 2016, after a 3.3% increase in 2015. In Osaka city, they were up 4.7% this year.Read more
City suing for ownership of ancient tomb in Osaka
Fujidera City in Osaka Prefecture has filed a lawsuit seeking the transfer of ownership of land containing a 1,500 year-old ancient tomb.
Called a ‘kofun’, the ancient tomb is part of the Mozu and Furuichi Kofun-gun group of tombs constructed between the 3rd and 7th century AD in the Osaka area. The city is hoping to have the tombs registered as UNESCO World Heritage Sites, and owning the land would help to ensure its protection and preservation.Read more
Average apartment rent in August 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,661 Yen/sqm in August, up 0.3% from the previous month and up 2.7% from last year. The average apartment size was 60.26 sqm and the average building age was 19.7 years.
In the Tokyo metropolitan area, the average monthly rent was 3,223 Yen/sqm, up 2.5% from the previous month and up 1.4% from last year. In the Tokyo metropolitan area, the average apartment age decreased from 18.3 years to 17.6 years, which contributed to the increase in the average rent from the previous month. The average apartment size was 57.73 sqm.Read more
New apartment supply in Tokyo down for 9th month
According to the Real Estate Economic Institute, 1,966 new apartments were released for sale in greater Tokyo in August, down 40.7% from the previous month and down 24.7% from last year. This is the 9th month in a row to see a year-on-year decline in supply.
1,310 apartments were sold, resulting in a contract ratio of 66.6%, up 3.3 points from the previous month but down 7.7 points from last year. 435 apartments in high-rise buildings (over 20-storeys) were released for sale, down 1.6% from last year. The contract ratio was 73.1%, down 12.2 points from last year.
The average price of a new apartment across greater Tokyo was 56,620,000 Yen, up 0.1% from the previous month but down 3.6% from last year. The average price per square meter was 798,000 Yen, down 1.0% from the previous month and down 3.2% from last year.Read more