Tokyo apartment asking prices in November 2018
According to Tokyo Kantei the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 37,100,000 Yen in November 2018, up 2.3% from the previous month and up 2.5% from the previous year. The average building age was 24.4 years.
Tokyo’s office vacancies hit 27-year low
The average office vacancy rate across central Tokyo’s main business districts dropped to the 1% range in November, according to office brokerage Miki Shoji. This is the lowest rate since the end of the bubble economy in 1991 which saw a vacancy rate of 1.79%.
New apartment contract ratio hits 10 year low in November
According to the Real Estate Economic Institute, a total of 3,461 brand new apartments were released for sale across greater Tokyo in November, up 21.7% from the previous month and up 2.8% from last year.
The most expensive apartments in Tokyo (2018 ranking)
The following is a ranking of the most expensive apartments in Tokyo provided by apartment information site Mansion Review (mansion-review.jp). It is not surprising to note that 9 of the top 10 buildings are located in Minato-ku, while 1 is located in Chiyoda’s Bancho neighborhood.
Apartment rents in Tokyo increase for 12th month
According to Tokyo Kantei, the average monthly rent for an apartment in Tokyo’s 23 wards was 3,506 Yen/sqm in November 2018, down 0.6% from the previous month but up 5.2% from last year. This is the 12 month in a row to see a year-on-year increase.
Nihonbashi’s redevelopment projects between now and 2035
Tokyo’s historic Nihonbashi district continues to transform with several major redevelopments planned between now and 2035. In addition to these new high-rises, there are also plans to move the unsightly aboveground expressway underground, restoring the Nihonbashi river to its original state.