Tokyo apartment sale prices increase for 59th consecutive month

According to REINS, 2,265 second-hand apartments were sold across greater Tokyo in August, down 31.4% from July and down 5.0% from last year. August is one of the hottest months in the year and often a time when Japanese take a vacation, so sales are typically slower than in July or September.

The average sale price was 32,380,000 Yen, up 2.5% from the previous month and up 7.6% from last year. The average price per square meter was 505,000 Yen, up 2.1% from the previous month and up 5.9% from last year. This is the 56th month in a row to record a year-on-year increase in sale prices. The average building age was 20.69 years.

In the Tokyo metropolitan area 1,141 second-hand apartments were sold, down 33.7% from the previous month and down 4.8% from last year. The average sale price was 40,350,000 Yen, up 4.4% from the previous month and up 7.4% from last year. The average price per square meter was 684,200 Yen, up 4.3% from the previous month and up 7.4% from last year. This is the 59th month in a row to record a year-on-year increase in sale prices. The average building age was 19.39 years.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, 150 second-hand apartments were sold, down 31.8% from the previous month but up 11.9% from last year. This is the 12th month in a row to record a year-on-year increase in transactions and the highest number of reported transactions for the month of August seen since record-keeping began in 2008.

Monthly transactions in August:

  • 2017: 150
  • 2016: 134
  • 2015: 142
  • 2014: 114
  • 2013: 128
  • 2012: 88
  • 2011: 105
  • 2010: 91
  • 2009: 97
  • 2008: 82

The number of new listings was down for the 10th month in a row with 1,026 apartments listed for sale in August, down 11.2% from July and …continue reading