Land and apartment prices continue to fall [Nomura]
Nomura Real Estate Urban Net published the results of their survey on residential land and apartment price movements on October 1, 2011. According to the data, bearish patterns continue for residential land prices in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba).
Between July and September, residential land prices fell 1% in greater Tokyo. Of the surveyed areas, 5.7% had an increase in land prices, 64.3% had no change and 30% had a fall in prices. Meanwhile, land prices in Tokyo's 23 wards saw no change over the past 12 months while Saitama and Chiba Prefectures both saw a decline of 1.9%. Read more
Tokyo's second-hand apartment prices down 4.2% from 1 year earlier
The Real Estate Information Network for East Japan (REINS) announced the results of their data collection on real estate movements for the Tokyo area for the month of June, 2011. The data is based on property listings registered on the REINS multiple listing database.
The total number of units listed for sale in the greater Tokyo area on the secondary market surpassed 40,000 units. The total of 40,016 units was an increase of 2.6% from May, and a very large increase of 31.3% compared with June, 2010. Tokyo had a total of 22,950 units, Saitama had 4004 units, Chiba had 3451 units and Kanagawa had 9611 units listed with the REINS database.Read more
Tokyo Bayside Condominium Market - From Boom to Bust
Three months have now passed since the Tohoku Earthquake and Tsunami. The affected areas of Tokyo Bay are seeing a growing disparity between the desired purchase and selling prices of condominiums on the secondary market.
Difference of 10 million Yen between buyers and sellers
Buyers are anticipating a huge slump in prices for bayside apartments. On the other side, sellers are still hoping to sell their apartments at pre-earthquake values - a time when the bayside areas were seeing huge rises in popularity.Read more