Tokyo apartment asking prices in April 2018
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment across greater Tokyo was 36,040,000 Yen in April, down 0.4% from the previous month but up 1.2% from last year. The average building age was 23.4 years.Read more
New apartment supply in Tokyo’s 23 wards drops 37% from last year
According to the Real Estate Economic Institute, 2,342 brand new apartments were released for sale across greater Tokyo in April, down 35.3% from March and down 14.6% from last year. The reason for the drop in supply is due to a smaller number of large-scale projects on the market compared to this time last year. More of these major projects are expected in the near future, and supply may soon return to normal levels.
The average sale price was 55,480,000 Yen, down 6.3% from last year, while the average price per square meter was 800,000 Yen, down 6.5% from last year.Read more
Average rent in Tokyo increases for 5th month in a row
According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,517 Yen/sqm in April, up 0.3% from the previous month and up 5.9% from last year. Rents have remained above the 3,500 Yen/sqm range since February. This is the fifth month in a row to see a year-on-year increase.Read more
The most expensive districts in Tokyo to buy a new home or apartment
Tokyo Kantei has issued a ranking of the districts across greater Tokyo based on the average price of a brand new home or apartment in 2017.
MINATO
In top spot for both lists was Minato ward in central Tokyo where a brand new house had an average price of 120,120,000 Yen (approx. 1.09 million USD) and an average floor area of 106.58 sqm (1,147 sq.ft). A new apartment had an average price of 140,450,000 Yen (approx. 1.28 million USD) and an average size of 75.02 sqm (807 sq.ft).Read more
Tokyo apartment sale prices increase for 67th month
According to REINS, 3,237 second-hand apartments were reported to have sold across greater Tokyo in April, down 15.2% from the previous month but up 2.3% from last year. March is typically the busiest month of the year for apartment sales, so it is normal to see a drop in transactions in the following month. The average sale price was 33,640,000 Yen, down 0.1% from the previous month but up 3.7% from last year. The average price per square meter was 520,400 Yen, down 0.1% from the previous month but up 3.3% from last year. This is the 64th month in a row to see a year-on-year increase in sale prices.
1,679 apartments were sold in the Tokyo metropolitan area, down 15.4% from the previous month but up 4.4% from last year. The average sale price was 41,840,000 Yen, down 1.0% from the previous month but up 2.5% from last year. The average price per square meter was 689,300 Yen, down 1.8% from the previous month but up 1.6% from last year. This is the 67th month in a row to record a year-on-year increase in sale prices.Read more
Price-Earnings Ratios for New Apartments in Tokyo in 2017
According to Tokyo Kantei, the price-earnings ratio (PER) for brand new apartments in the greater Tokyo region was 24.49 in 2017, down from a record high of 28.66 seen in 2016. A PER of 24.49 indicates a gross yield of approximately 4.04%. A PER above 20 will imply a gross yield below 5.00%. In this survey, 90% of locations had PERs of over 20.
The average price of a 70 sqm (753 sq.ft) new apartment in 2017 was 66,840,000 Yen, up 2.9% from 2016, while the average monthly rent was estimated at 224,905 Yen, up 2.5%.Read more
New apartment starts in 2017 reach lowest level in 7 years
Apartment starts in the greater Tokyo area in 2017 reached the lowest level seen in seven years. According to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), apartment starts were 57,591 units, down 12% from 2016. The Ministry cites an early rush by developers to get large-scale projects off the ground in the lead up to the 2020 Olympics and difficulty in securing sites for residential developments as the two contributors to a recent slow down in residential construction.Read more