Apartment sale price in central Tokyo jumps 18% in September
Second-hand apartment transactions across greater Tokyo dropped 7.3% from last year to 3,328 units in September. This comes a month after double-digit year-on-year increases were recorded across all four prefectures. The average sale price increased by 1.3% from the previous month and 6.6% from last year to 36,930,000 Yen. The average price per square meter increased by 2.1% from the previous month and 4.1% from last year to 559,800 Yen.
Tokyo apartment discounts in September
The median discount on an existing apartment sold in Tokyo’s 23 wards in September dropped to 1.32%, down 0.41 points from last year. Discounts were highest in the sub-30 million Yen price range, with a median of 2.07%, and lowest in the 50 ~ 100 million Yen price range with a median discount of 0.87%.
Tokyo Apartment Sales in September 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2020:
Quick real estate news summary for the week
Tokyo apartment prices continue to reach new highs, Hakuba sees 30% jump in land prices, and Japan loses ground in global real estate transparency ranking. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
New apartment supply drops 8% from last year
According to the Real Estate Economic Institute, the supply of brand-new apartments released for sale across greater Tokyo in August dropped 8.2% from last year to 1,669 units. This time last year saw the release of several hundred apartments in the Harumi Flag Athlete’s Village conversion project on Tokyo Bay.
Tokyo second-hand apartment transactions reach highest level since 1990
August was a bumper month for second-hand apartment sales in greater Tokyo. In fact, it was the busiest month of August since REINS began recording data in May 1990.
Tokyo apartment discounts in August
The median discount on an existing apartment sold in Tokyo’s 23 wards in August was 1.46%, up 0.06 points from July but showing no change from August 2019. Buying activity continued to improve again in August, with transactions looking similar to the volume seen last year.