Apartment prices along Tokyo’s Chiyoda Line
The following data from Tokyo Kantei shows the change in apartment prices along the Chiyoda Subway Line. The first half this subway line runs through several high-end residential neighbourhoods in central Tokyo, before making its way north and terminating at Kita-Ayase in Adachi Ward.
Also, the line feeds into other lines including the JR Joban Line and Odakyu Odawara Line, and is one of the most used subway lines in Tokyo. Ayase Station, for instance, is the second most used station on the Metro with an average of 437,000 daily passengers changing trains, while Yoyogi Uehara has 250,000 daily passengers.
Otemachi, Nijubashi-mae, Hibiya, Kasumigaseki, and Kokkaigijido-mae Stations have been left out of the data. These stations are in the political and corporate headquarter districts of Tokyo and have very few residential properties.
The average price across all stations on the Chiyoda Line was 891,000 Yen/sqm in 2015, up 32.1% from 2014. The average building age was 20.5 years, down from 21.7 years in 2014. The average apartment size was 59.88 sqm (644 sq.ft), down from 63.08 sqm in 2014.
December 2015 rental data and annual average
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,628 Yen/sqm in December 2015, up 0.2% from the previous month and up 2.6% from the previous year. The average apartment size was 59.84 sqm and the average building age was 19.7 years.
The average monthly rent in Tokyo’s 23 wards was 3,311 Yen/sqm, up 0.2% from the previous month and up 3.6% from the previous year. The average apartment size was 56.62 sqm and the average building age was 17.4 years.
Central Tokyo apartment sale prices drop as average building age increases
According to REINS, 2,543 second-hand apartments were sold across greater Tokyo in December, down 1.4% from the previous month but up 1.8% from 2014. The average apartment sale price was 28,640,000 Yen, down 1.8% from the previous month but up 0.6% from 2014. The average price per square meter was 454,400 Yen, down 1.2% from the previous month but up 1.3% from 2014. The average building age was 21.29 years (1.44 years older than the average in December 2014).
In the Tokyo metropolitan area 1,287 second-hand apartments were sold, down 14.2% from the previous month but up 3.0% from 2014. The average sale price was 35,770,000 Yen, down 1.0% from the previous month but up 2.0% from 2014. The average price per square meter was 610,100 Yen, down 1.5% from the previous month but up 2.8% from 2014. The average building age was 20.00 years (1.07 years old than the average in December 2014).
Central Tokyo’s 3 wards
In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 158 apartments were sold, down 15.1% from the previous month but up 3.9% from 2014. The average sale price was 53,550,000 Yen, down 0.4% from the previous month and down 6.6% from 2014. The average price per square meter was 968,300 Yen, down 3.7% from the previous month and down 3.0% from 2014. Read more
Sports stadium and mall likely to replace old Tsukiji fish market
According to insiders at a major Japanese real estate company, a sports stadium and shopping mall are being considered as a replacement for the former Tsukiji fish market site in downtown Tokyo.
The famous 80-year old fish market is scheduled to move to its new location on Shin-Toyosu Island in Tokyo Bay in early November 2016, leaving a 23 hectare site prime for redevelopment. The outer market, which has retail and restaurants catering to the general public, will remain in its current location, while the wholesale market will move to a much larger site in Shin-Toyosu.Read more
Residential yields in Minato-ku - January 2016
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.6% in January, down 0.1 points from the previous month and down 0.7 points from last year. The average gross yield across Tokyo was 6.2%, showing no change from the previous month but down 0.6 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 895,543 Yen/sqm as of January 1, up 0.6% from the previous month and up 6.2% from last year. The average asking price for land was 1,358,485 Yen/sqm, up 3.1% from the previous month and up 7.6% from last year.Read more
New retail project for Omotesando/Harajuku intersection
The Jingumae 6 Chome District Redevelopment Committee is moving forward with plans to redevelop a prime 3,000 sqm retail site fronting both Omotesando and Meiji Dori Avenues.
The redevelopment committee was established in August 2015 and includes Tokyu Land (who acquired Coop Olympia Annex in 2013), Colombin Co. (a biscuit and cake company that have their headquarters next-door to Coop Olympic Annex), part of Tokyo Metro’s subway facilities (the Chiyoda and Fukutoshin Lines are both located nearby), and the Tokyo Metropolitan Government (owner of the Jingumae Onden Resident Hall).Read more
Tokyo Apartment Sales in December 2015
The following is a selection of apartments that were sold in central Tokyo during the month of December 2015:Read more