Tokyo new apartment prices remain above 100 million Yen for 3rd month
For the third month in a row the average sale price of a brand-new apartment in Tokyo’s 23 wards has exceeded 100 million Yen. In May, the average price was 114,750,000 Yen (approx. US$808,000), up 47.9% from last year.Read more
Tokyo remains one of the cheapest international cities for luxury housing
Luxury housing in central Tokyo remains amongst the cheapest in the top global cities. A luxury condominium in Tokyo’s high-end Motoazabu neighborhood is about 59% cheaper than its Hong Kong equivalent and 45% cheaper than one in London, according to the Japan Real Estate Institute.Read more
Further restrictions on Harumi Flag apartment sales
Further sale limits have been imposed on the Harumi Flag project on Tokyo Bay to curb speculation. The repurposed Athlete’s Village condos have seen as many as 100 ~ 200 purchase applications per apartment as speculators seek to flip them once complete.Read more
Tokyo Apartment Sales in March 2023
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2023:
New apartment supply drops 20% in February
According to the Real Estate Economic Institute, 1,821 brand-new apartments were released for sale across greater Tokyo in February, down 20.4% from last year. Read more
Average price of an apartment in Tokyo reaches new record in February
According to Tokyo Kantei, the average asking price for a 70 sqm apartment in Tokyo’s 23 wards was 69,770,000 Yen in February, up 0.5% from the previous month and up 4.1% from last year. This price exceeded a previous record high set last October.
Nationwide land values increase for 2nd year in a row
The nationwide Assessed Land Values (koji-chika), as issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) saw a year-on-year increase in 2023. This is the second year in a row to see an increase. The growth is apparent not only in urban centers, but is also spreading to regional areas as the country emerges from the pandemic.Read more