Tokyo Apartment Sales in July 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of July 2020:
Tokyo apartment discounts in June
The real estate industry kicked back into gear in June as both businesses and individuals began to pick up activity after the end of the state of emergency. Transactions of existing apartments, while not back to last year’s numbers, have improved significantly in June, following two months of drastic falls. In Tokyo’s Minato ward, transactions are only 2.4% below the number reported in June 2019. What about discounts? Is it a negotiation frenzy?
Apartment transactions and sale prices recover in June
Buying activity in the greater Tokyo area is starting to resume, with monthly transactions starting to recover from levels seen during the shut down in April and May. In June, a total of 3,107 second-hand apartments were reported to have sold across greater Tokyo, up 83.6% from May. This number is still 11% below the transactions seen in June 2019, but an improvement from the 52.6% year-on-year drop seen in April and the 38.5% drop seen in May.
Tokyo Apartment Sales in June 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2020:
Quick real estate news summary for the week
High-rise residents feeling the stress of the pandemic, central Tokyo apartment prices rise against the odds, while housing starts drop. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
New apartment sales drop 82.2% in May
The number of new apartments released for sale across greater Tokyo in May dropped 82.2% from last year to just 393 units. This is the lowest volume since the Real Estate Economic Institute began reporting data in 1973. Showrooms remained closed for most of the month due to the nationwide state of emergency. The contract ratio was 72.3%, up 12.3 points from last year but down 6.6 points from April.
Tokyo apartment transactions drop 38% in May
The number of second-hand apartments reported to have sold across greater Tokyo in May dropped 38.5% from last year to 1,692 units. With the state of emergency continuing into May, the temporary closure of real estate brokerages and general restraint from consumers saw a slowdown in activity. The drop is less severe than it was in April, which recorded a 52.6% year-on-year drop in transactions.