Fukushima's real estate market not expected to recover for at least 3 years
Fukushima Prefecture's Real Estate Appraisal Association announced the results of their survey on the real estate market for Fukushima following the March 11 earthquake, tsunami and nuclear disaster.Read more
The 2011 Japan earthquake and what it means for the real estate market
One month has passed since the March 11 Tohoku earthquake and tsunami. With strong aftershocks continuing and a nuclear disaster that was just upgraded to the maximum level, uncertainty remains over what will happen to the Japanese economy in the short and medium term.Read more
Second-hand apartment prices in Tokyo continue to increase
According to Tokyo real estate service provider, Tokyo Kantei, the average price of a 70 sqm second-hand apartment in Tokyo's 23 Wards in May, 2010, was 43.05 million Yen. This is an increase of 9.5% from June of 2009. Prices in Saitama and Chiba Prefectures also saw increases, while Yokohama had a slight fall in prices.
In recent years, Tokyo has seen the supply of brand new apartments fall, and the focus shifted towards pre-existing units. With a decline in home-loan interest rates and and increase in certain tax exemptions on gift taxes, buyers have started returning to the market.
In the past, there was a clear difference in the market for brand new and second-hand apartments. But recently, there are more and more buyers who are comparing both brand new and second-hand apartments for purchase.
Nikkei Shimbun, July 16, 2010
Average House Listing Prices for May 12, 2010
According to real estate listing site Home's, the average price for a100sqm house in Minato-ku is approximately 101 million Yen, and in Shibuya-ku is approximately 75 million Yen as of May 12, 2010.
Continue reading for details on the average prices for each area in central Tokyo.
Average Apartment Listing Prices for May 12, 2010
According to real estate listing site Home's, the average price for a 70sqm apartment less than 10 years old in Minato-ku and Shibuya-ku is approximately 65~66 million Yen.
Continue reading for details on the average prices for each area in central Tokyo.
Second-hand apartment prices up 9% from June, 2009
Second-hand apartment prices are slowly recovering. As they are comparatively cheaper than brand new apartments, demand is returning and the viewpoint that this is no longer the bottom of the market is emerging.
Nagoya's 7 cities see the highest increase of 2.7%
Real estate information provider, Tokyo Kantei, reported that the average price of a 70sqm apartment in Tokyo's 23 Wards reached 42.97 million Yen in March, 2010. This is 9% higher than the bottom average price that was recorded in June, 2009.
From Autumn of 2009, Tokyo, Yokohama and Saitama have been showing signs of transitioning into a bullish market. Nagoya's 7 cities had the largest rate of growth of 2.7% compared to the previous month, with Osaka and Kobe seeing almost no change.