A common question we get from buyers is how much of a discount can they get on the asking price of a property. The honest answer is that it varies. Some properties will sell at their full asking price, while others may sell at a discount. Typically two-thirds of all reported apartment sales in central Tokyo (Minato, Chiyoda, Chuo, Shibuya, Shinjuku and Shinagawa) sell at a discount of less than 3%, while a third sell at their full asking price.
Some buyers may get swept up in the goal of getting a property that offers the highest discount, often bypassing properties that are already listed at a fair value.
Based on the current market data, if your goal is to get any kind of discount you are likely to miss out on a third of all listings, while aiming for a discount of over 5% may knock out 80 ~ 85% of all listings.
The average discount to date in 2017 has been 2.72%.
About the data:
The data is based on transactions reported to the REINS database. Reporting is voluntary and a large amount of transactions are not reported on REINS. This data is not always 100% accurate.