Central Tokyo apartment resale values have increased by as much as 111%

According to Tokyo Kantei, an apartment in greater Tokyo has seen a 19.8% increase in its resale price over the past 10 years. That’s the average across a wide-spanning region that includes suburban areas in Saitama, Chiba and Kanagawa. In central Tokyo, the rate of growth has been much more staggering with some locations seeing prices increase by between 70 ~ 111%.

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Tokyo apartment prices increase for 22nd month

Second-hand apartment prices across greater Tokyo have continued to climb. In February, the average sale price was 625,100 Yen/sqm, up 8.4% from last year and the 22nd month in a row to see a year-on-year increase. The average apartment size shrank by 1.7% to 64.36 sqm (693 sq.ft) while the average building age grew by 1.33 years to 23.27 years. In other words, apartments were getting smaller, older, and more expensive.

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