New apartment prices in Tokyo up 26%

According to the Real Estate Economic Institute, 2,651 new apartments were released for sale across greater Tokyo in February, down 24.1% from last year but up 45.2% from the previous month. Record snowfall across Tokyo in February caused some developers to postpone sales until March, which caused the drop in numbers.

Demand still remains strong with a contract rate of 80.6%, up 4.2 points from last year and up 2.0 points from January. Read more

by Zoe Ward

New apartment prices in January

According to the Real Estate Economic Institute, a total of 1,826 new apartments were released for sale in greater Tokyo in January, down 77.9% from the previous month but up 6.1% from January 2013. 

The contract rate for the month was 78.6%, up 2.5 points from the previous month and up 9.4 points from last year.

The average apartment price was 46,370,000 Yen, down 1.8% from last year. The average price per square meter was 660,000 Yen, down 4.2% from last year.Read more

by Zoe Ward

Looking back at the new apartment market in Tokyo in 2013

According to the Real Estate Economic Institute's report on the new apartment market in greater Tokyo, a total of 56,476 apartments were released for sale over the year, up 23.8% from 2012. This is the first time in six years that this number has exceeded 50,000.  The previous high was in 2000 with 95,635 apartments released for sale.

In Tokyo's 23-ku, 28,338 new apartments were released for sale, up 46.1% from the previous year. Read more

by Zoe Ward

New apartment supply in greater Tokyo up 22.3% in November

According to the Real Estate Economic Institute, a total of 5,006 apartments were released for sale in greater Tokyo in November, up 42.8% from the previous month and up 22.3% from last year.

Of those, 3,984 apartments were sold, making the contract rate 79.6%.

The average new apartment price across greater Tokyo was 49,670,000 Yen, up 1.2% from the previous month but down 0.7% from last year. The average price per square meter was 694,000 Yen, down 2.4% from the previous month and down 3.7% from last year.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

New apartment sales in September surge before consumption tax increase deadline

The Parkhouse Grand Chidorigafuchi 1
The Parkhouse Grand Chidorigafuchi - now sold out.

According to the Real Estate Economic Institute, a total of 5,968 new apartments were released for sale in greater Tokyo in September, up 77.3% from last year and up 44% from the previous month.

Of those, 4,986 apartments were sold, making the contract rate 83.5% in greater Tokyo. This is an increase of 14.2 points from last year and 2.0 points  from August.

The number of new apartments offered in high-rise buildings over 20 storeys was 1,949, up 810.7% from last year. The contract rate was 89.9%, up 27.3 points from last year.

Read more

by Zoe Ward

New development in Kachidoki to have over 3,000 apartments

Kachidoki East District Redevelopment 1The proposed Kachidoki East District Development on the man-made island of Kachidoki in Tokyo Bay will have over 3,000 apartments when completed, making it the largest residential project in Japan.

The development includes three residential towers with a total of 3,020 apartments. This will be larger in scale than the nearby 'The Tokyo Towers' which has 2,794 apartments. Read more

by Zoe Ward