Price/earnings ratio rankings for new apartments in Tokyo

Tokyo Kantei published data on the price/earnings ratio (PER) for brand new apartments in the greater Tokyo area.

According to their data, the PER in greater Tokyo in 2013 was 23.98, up 0.15 points from last year. The average rent for a 70 sqm apartment was 167,685 Yen/month, up just 0.1%. Meanwhile, the average price of a 70 sqm new apartment was 47,890,000 Yen, up 0.8% from 2012.  Read more

by Zoe Ward

Secondhand apartment prices in October - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23 wards was 40,660,000 Yen in October, up 0.6% from the previous month and up 3.3% from last year. This is the seventh month in a row where prices have seen a month-on-month increase.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 54,580,000 Yen, up 1.0% from the previous month and up 7.0% from last year. The average apartment age was 21.0 years.

Read more

by Zoe Ward

Kenedix announces acquisition of 4 office buildings

Kenedix Realty Investment Corporation announced that it had recently acquired or was in the process of acquiring four office buildings in Tokyo for approximately 14.93 billion Yen.Read more

by Zoe Ward

Avex Group redeveloping Omotesando HQ

Avex Group OmotesandoJapan's leading record label Avex Group will be rebuilding their headquarters in Omotesando. The current building was constructed in 1980 and has been occupied by Avex since 1995. Avex later acquired the building and land in 2002.

The decision to rebuild was made after an assessment showed that the 33-year old building would require some very costly repairs and maintenance in the mid-term.

A total of 1,923 people work in the 9-storey building. Read more

by Zoe Ward

New apartment inventory levels reach lowest level in over 23 years

According to the Real Estate Economic Institute, the inventory of unsold new apartments in greater Tokyo in October 2013 was 3,771 apartments. This is the lowest level seen since September 1990.

A total of 3,506 new apartments were released for sale in October, down 41.3% from the previous month but up 21.4% from last year. Of those, 2,790 apartments were sold, making the contract rate 79.6%. This is the first time in five months that the rate has dropped below 80%, but still remains above the 70% figure that indicates favourable market conditions.Read more

by Zoe Ward

Compact-type apartment market rebounding after 7 years

The compact-type apartment market in Tokyo is rebounding after seven years, but is it sustainable?

Sales of compact-type apartments (those with a floor area of 30 ~ 50 sqm) in Tokyo's 23 wards are reaching levels not seen since the mid-2000s. According to consulting firm Total Brain, the average purchase application ratio (the percentage of apartments that received applications to purchase within the first month of sales) was 71.3% for apartments released for sale between January and August 2013. This is the first time that the ratio has reached the 70% range since 2006 and is edging closer to the record high of 71.4% seen in 2005. Read more

by Zoe Ward

October rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,531 Yen/sqm in October, down 0.6% from the previous month, but up 2.8% from last year. The average apartment size was 59.14 sqm (636 sqft) and the average building age was 18.9 years.Read more

by Zoe Ward