Apartment asking prices in Tokyo increase for 16th month but supply-demand balance starts to shift
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in October was 31,970,000 Yen, up 1.2% from the previous month and up 12.3% from last year. This is the 14th month in a row to see a month-on-month increase in asking prices. The average building age was 22.3 years.
In Tokyo’s 23 wards, the average asking price was 49,780,000 Yen, up 1.3% from the previous month and up 17.0% from last year. This is the 16th month in a row to see a month-on-month increase. 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 69,690,000 Yen, up 0.7% from the previous month and up 15.8% from last year. This is the fifth month in a row to see an increase, although the rate of increase has slowed.Read more
Residential rental growth slows in Tokyo
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,681 Yen/sqm in October, up 1.3% from the previous month and up 3.0% from last year. The increase is due to a larger share of transactions in the Tokyo metropolitan area, which is pulling up the average. The average apartment size was 59.65 sqm and the average building age was 19.2 years.
In the Tokyo metropolitan area, the average rent was 3,184 Yen/sqm, up 0.1% from the previous month and up 2.7% from last year. The average apartment size was 57.08 sqm and the average building age was 17.4 years.
In Tokyo’s 23 wards, the average rent was 3,317 Yen/sqm, down 0.3% from the previous month but up 2.6% from last year. The average apartment size was 56.49 sqm and the average building age was 17.0 years.Read more
Central Tokyo apartment asking prices up 17%
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in September was 31,590,000 Yen, up 1.4% from the previous month and up 11.9% from last year. This is the 13th month in a row to see an increase. The average building age was 22.4 years.
In Tokyo’s 23 wards, the average asking price was 49,130,000 Yen, up 1.0% from the previous month and up 16.5% from last year. This is the 15th month in a row to see an increase in prices. The average building age was 22.2 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 69,210,000 Yen, up 1.3% from the previous month and up 17.0% from last year. The average building age was 20.6 years.
Tokyo residential rents continue slow rise
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,647 Yen/sqm in September, up 2.2% from the previous month and up 2.8% from last year. The leading cause of the increase in the rent was due to a large share (60%) of properties located in the Tokyo metropolitan area. The average apartment size was 60.27 sqm and the average building age was 19.0 years.
In the Tokyo metropolitan area, the average rent was 3,182 Yen/sqm, up 0.2% from the previous month and up 3.2% from last year. The average apartment size was 57.51 sqm and the average building age was 17.3 years.
In Tokyo’s 23 wards, the average rent was 3,326 Yen/sqm, up 0.4% from the previous month and up 3.7% from last year. The average apartment size was 56.93 sqm and the average building age was 16.7 years.
Average rents in Saitama, Osaka, Kobe and Nagoya were all down from last year.
Japan’s tallest base-isolation residential tower to be built in Osaka
On October 1, Mitsubishi Jisho Residence opened the model-room for a high-rise residential building planned for Osaka. With 55 floors and a height of 193 meters, The Parkhouse Nakanoshima Tower will be the tallest base-isolation residential building in Japan when complete (based on the total floor count).
The one, two and three-bedroom apartments will range in size from 40 ~ 148 sqm (430 ~ 1,592 sq.ft) and will be priced from 20 ~ 230 million Yen (166,000 ~ 1.91 million USD). There will be 894 apartments on 55 floors. The 22 premium apartments on the top two floors of the building will be priced over 100 million Yen (832,000 USD) each.Read more
Central Tokyo apartment asking prices up 16.6%
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in August was 31,150,000 Yen, up 1.5% from the previous month and up 10.7% from last year. This is the 12th month in a row to see an increase. The average building age was 22.2 years.
In Tokyo’s 23 wards, the average asking price was 48,660,000 Yen, up 2.1% from the previous month and up 16.1% from last year. This is the 14th month in a row to see an increase. The average building age was 22.2 years.
Price growth in central Tokyo continues to show no sign of slowing, with the average price in central Tokyo’s six wards reaching 68,290,000 Yen, up 2.0% from the previous month and up 16.6% from last year. This is an increase of 33.9% from the most recent market bottom of October 2012, when the average price was 50,990,000 Yen. The average building age was 21.0 years.