Apartment affordability ratios across Japan in 2020
In 2020, the average price of a 10-year old second-hand apartment nationwide was 5.92 times the average income, according to a report by Tokyo Kantei. Housing has become more expensive compared to 2019, which had a multiple of 5.52.
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Tokyo apartment prices increase for 18th month
Apartment prices across Tokyo continued to climb last month with REINS reporting a 7.9% year-on-year increase in the average price per square meter of a second-hand apartment sold across the greater Tokyo area. This is the 18th month in a row to see a year-on-year increase.
Tokyo Apartment Sales in October 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of October 2021:
Price growth higher for larger apartments
Last month, Tokyo Kantei published a report that looked into the connection between apartment sizes and prices, and to see if there have been any identifiable shifts since the start of the pandemic.
New apartment price in greater Tokyo hits historic high
The average price of a brand new apartment released for sale across greater Tokyo in the first half of the year (April to September) reached the highest level in history.
Greater Tokyo apartment prices increase for 17th month
According to REINS, a total of 3,176 second-hand apartments were reported to have sold across greater Tokyo in September, down 4.6% from last year. This is the 3rd month in a row to see a year-on-year drop in transactions.