New apartment price in Tokyo reaches highest level in history
The average price of a brand-new apartment released for sale across greater Tokyo in January has jumped 47% from last year and has reached the highest level seen since record-keeping began in 1973.
Remaining apartment inventory in central Tokyo drops for 2nd month in a row
According to REINS, a total of 2,680 second-hand apartments were reported to have sold across greater Tokyo in January 2020, up 0.5% from last year. The average sale price was 36,720,000 Yen, up 11.5% from last year. The average price per square meter was 562,900 Yen, up 9.4% from last year. This is the 12th month in a row to record a year-on-year increase in sale prices.
Tokyo Apartment Sales in January 2020
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2020:
New apartment supply in 2019 reaches lowest level in 27 years
In 2019 a total of 31,238 brand-new apartments were released for sale across greater Tokyo, down 15.9% from 2018 and the first time in three years to see an annual drop. Supply has dropped to a third of the level seen in 2000.
Tokyo’s 23 wards saw a 13.9% drop, while Kanagawa saw supply fall by 12.5%.
Existing apartment prices in Tokyo up 3.4% in 2019
The average asking price of a 70 sqm (753 sq.ft) existing apartment in Tokyo's 23 wards reached 55,660,000 Yen in 2019, up 3.4% from 2018. The average building age was 24.5 years, up from an average of 23.5 years in 2018.
New apartment supply in December drops 14.3%
According to the Real Estate Economic Institute, a total of 6,392 brand-new apartments were released for sale across greater Tokyo in December, up 94.1% from the previous month but down 14.3% from the previous year.
Remaining apartment inventory in Tokyo drops for first time in 27 months
According to REINS, a total of 2,810 second-hand apartments were reported to have sold across greater Tokyo in December, down 11.5% from the previous month and down 5.9% from December 2018. New listings dropped for the 4th month in a row, with a 7.4% drop from the previous year.