Tokyo apartment sale prices increase for 70th month

According to REINS, 3,139 second-hand apartments were sold across greater Tokyo in July, down 5.4% from the previous month and down 5.0% from last year. The average sale price was 33,620,000 Yen, up 1.3% from the previous month and up 6.4% from last year. The average price per square meter was 521,300 Yen, up 0.4% from the previous month and up 5.4% from last year. This is the 67th month in a row to record a year-on-year increase in prices.

1,657 second-hand apartments were sold in the Tokyo metropolitan area, down 0.6% from the previous month and down 3.8% from last year. The average sale price was 40,990,000 Yen, down 0.7% from the previous month but up 6.1% from last year. The average price per square meter was 680,100 Yen, down 1.4% from the previous month but up 3.7% from last year. This is the 70th month in a row to see a year-on-year increase in sale prices.

CENTRAL TOKYO’S 3 WARDS

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, the average sale price was 62,470,000 Yen, up 4.6% from the previous month and up 6.1% from last year. The average price per square meter was 1,145,400 Yen, up 3.8% from the previous month and up 6.1% from last year. This is the second highest price per square meter seen since record keeping began in 2008 (a record high of 1,164,500 Yen/sqm was set in May 2018).

205 apartments were reported to have sold during the month, down 8.9% from the previous month and down 6.8% from last year. Remaining inventory was at 17.2 months.

Source: REINS, August 10, 2018.

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