Nomura announces apartment price movements for April
Nomura Real Estate Urban Net announced the results of their survey on land and apartment price movements as of April 1, 2012. In greater Tokyo, the average price of both residential land and secondhand apartments fell 0.5% during the first quarter. On an annual basis, the price of residential land in greater Tokyo was down 2.8% (compared to a 2.0% decline from one year ago). Secondhand apartment prices fell by 3.1% over the year (compared to a 2.4% decline from the previous period).Read more
Downward price movements intensify in Tokyo
Nomura Real Estate Urban Net has published the latest residential land and second-hand apartment price movements for greater Tokyo. The downward trend of property prices is beginning to intensify.
According to the data, the average price of residential land in the last quarter of 2011 fell 0.9% from the previous quarter. From the surveyed locations, only 3.6% of locations reported an increase in land prices, 59.3% reported no change in prices and 37.1% reported a fall in land prices. For second-hand apartments, the average price in greater Tokyo was down 1.1%.Read more
Apartment prices in Tokyo down 10% in September
According to the latest data from the Real Estate Information Network for East Japan (REINS), the number of purchase contracts on houses and apartments sold on the secondary market in greater Tokyo in September fell over 3% from the previous year. The average selling price for both apartments and houses in greater Tokyo still remain lower than in 2010.Read more
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
Land values in central Tokyo increased as much as 70% since 2000
Land values in prime central Tokyo area have typically increased over the past 10 years. In some areas the increases have been as high as 71%.
Despite the Lehman Shock in 2008 where land prices have fallen, land values in 2010 are higher than they were in 2000.Read more
2010 Land Price Survey of Tokyo
The results of the 2010 Land Price Survey of Tokyo have been explained in an English report by the Tokyo Association of Real Estate Appraisers.
Some of the key points from the report are summarized below:
- Some locations in Tokyo's 23 wards saw flattening land prices
- Some areas saw increases over 6 months
- Land prices are expected to moderately recover
- Growth in the condominium market has increased demand for blocks with development potential
- Residential land is expected to fare better than commercial land
The full report can be read here.