Tokyo Apartment Sales in August 2021
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of August 2021:
Central Tokyo apartment prices are increasing by an average of 633,000 Yen per month
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment in the Tokyo metropolitan area in July has increased month-on-month for the past 13 months. According to Tokyo Kantei, the average asking price was 58,000,000 Yen, up 1.6% from June and up 13.3% from July 2020.
Japan fund targets rental houses in suburbs
Kenedix Inc., a prominent Tokyo-listed fund manager, is making its move on acquiring detached houses around Tokyo's suburbs to rent out.
Land in Daikanyama sold for 7 billion Yen
On August 26, apparel company Onward Holdings announced the sale of two properties in Tokyo’s Minato and Shibuya wards.
Tokyo apartment rents drop across all size ranges
According to the latest data on the residential rental market provided by AtHome, the average advertised rent across all four apartment types saw a year-on-year decline in Tokyo’s 23 wards.
Real estate investment drops 25% in first half of 2021 as supply shrinks
The total volume of commercial real estate investment across greater Tokyo in the first half of 2021 fell 25% from the same time last year as fewer deals were made available.
Looking for land? You might need to knock down a house first
If you are looking for land to build a house or other building on in Japan, particularly in a city, you may find lots are small in size while supply is limited. Of Japan’s total land size of 37,800,000 hectares, 66% is forest and 12% is farmland. Land for building purposes comprises 1,960,000 hectares or just 5% of the total - and that includes land that is already built on. The remainder is roads, rivers and waterways, and fields.
In an urban location, most of the land is already occupied, so domestic buyers will also consider lots with existing buildings that they can demolish. This is unavoidable in an area with a short supply of listings. If you limit yourself only to vacant lots, you may find very few options.