Secondhand apartment prices in September - Tokyo Kantei

According to the latest report from Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 40,420,000 Yen in September, up 0.2% from the previous month and up 2.5% from September 2012. This is the sixth month in a row where prices have seen a month-on-month increase. The average price across Tokyo City was 36,930,000 Yen, up 0.3% from last month and up 1.0% from last year.

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by Zoe Ward

Japan's apartment market over the last 40 years

Villa Gloria Harajuku 1972The Real Estate Economic Institute recently published a report on the condominium market in Japan over the last 40 years. Here are some of the highlights:

  • Apartment prices are now 3.5 times higher.  The average apartment price nationwide in 1973 was 10,860,000 Yen. In 2012 it was 38,340,000 Yen. In greater Tokyo the average price was 11,710,000 Yen in 1973. In 2012 it was 45,400,000 Yen. Read more

by Zoe Ward

Secondhand apartment prices in July - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in Tokyo's 23-ku was 39,850,000 Yen in July - up 0.3% from last month and up 1.6% from July 2012. The average apartment age was 20.7 years.

In Tokyo's central 6 wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average price in July was 53,280,000 Yen, down 0.3% from last month but 3.4% higher than last year. The average apartment age was 20.9 years.Read more

by Zoe Ward

Secondhand apartment prices in June - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo's 23-ku in June was 39,720,000 Yen (397,000 USD), up 0.3% from last month and 0.7% higher than June 2012.

Across greater Tokyo, the average price was 27,700,000 Yen (277,000 USD), up 0.4% from last month but down 2.7% from last year.Read more

by Zoe Ward

Secondhand apartment prices in April - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) secondhand apartment in greater Tokyo in April was 27,700,000 Yen (272,000 USD), down 0.4% from last month and down 4.3% from April 2012. 

In Tokyo, the average asking price was 36,290,000 Yen (357,000 USD), up 0.1% from last month but down 2.2% from last year. Osaka City is one of the few places that has seen asking prices increase from 12 months ago, with the average price up 1.2% from April 2012. Prices in Osaka's central 6 wards have increased by 6.8% over the year.Read more

by Zoe Ward

Apartment price to income ratio worsens

According to research by Tokyo Kantei, the average new apartment price in Japan is 6.27 times the average annual income. This is an increase of 0.26 points from 2010, indicating an increased difficulty in purchasing homes.

The average price to income ratio for a secondhand apartment (10 years old)  was 4.32 (0.26 points higher than 2010).Read more

by Zoe Ward

The difference between the listing price and sale price of apartments in 2011

Based on apartment transaction data from 2011, Tokyo Kantei have provided details on the difference between the asking price and realized sales price of second-hand apartments in greater Tokyo and the Kansai region. It is quite common for an apartment on the secondary market to sell below the listing price.Read more

by Zoe Ward