Apartment prices in Minato Ward increased by 96% over past decade
The average reported sale price of a second-hand apartment in Tokyo’s central Minato ward has increased by 96% over the past 10 years, according to REINS.
Central Tokyo apartment prices up 18.7% from last year
In July, the average reported sale price of a second-hand apartment in central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato reached 1,543,800 Yen/sqm, a record high. This is a 7.7% increase from the previous month and an 18.7% increase from last year.
10-fold increase in 100 million Yen + apartment sales in Tokyo
The number of apartments that have sold for over 100 million Yen in the Tokyo metropolitan area has risen 10-fold over the past decade. According to listing database and market information provider REINS, reported transactions in Tokyo reached 1,136 in 2021, up 39.6% from 2020 and up 952% from 2011.
Tokyo Apartment Sales in July 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2022:
Apartments in Tokyo are selling faster and with smaller discounts
Last year, the market for second-hand apartments in the greater Tokyo area saw discounts hit some of the lowest rates on average, while apartments sold in a shorter amount of time.
Tokyo apartment asking prices increase for 24th month
The average asking price of a 70 sqm second-hand apartment in Tokyo’s 23 wards reached 68,400,000 Yen in June, a 0.6% increase from the previous month and 8.1% increase from last year. This is the 24th month in a row to record a month-on-month increase.
New apartment price in Tokyo hits second highest level on record
The average price of a brand-new apartment in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba Prefectures) in the first half of 2022 has reached the second highest level on record.