Central Tokyo apartment sale prices reach 2nd highest level

According to REINS, 4,117 second-hand apartments were reported to have sold across greater Tokyo in March, up 18.2% from February and up 7.8% from last year. This is the 3rd month in a row to record a year-on-year increase in transactions. The average sale price was 34,900,000 Yen, up 0.3% from the previous month and up 3.6% from last year. The average price per square meter was 539,600 Yen, up 1.3% from the previous month and up 3.6% from last year.

In the Tokyo metropolitan area, 2,124 second-hand apartments were reported to have sold, up 16.6% from the previous month and up 7.1% from last year. The average sale price was 43,680,000 Yen, up 1.0% from the previous month and up 3.4% from last year. The average price per square meter was 718,200 Yen, up 2.4% from the previous month and up 2.3% from last year.

Central Tokyo’s 3 wards

Central Tokyo’s 3 wards of Chiyoda, Chuo and Minato had 244 reported sales, up 13.5% from the previous month but down 11.9% from last year. This is the 12th month in a row to see a year-on-year decrease in transactions. The average sale price was 68,230,000 Yen, up 12.3% from the previous month and up 10.0% from last year. The average price per square meter was 1,191,300 Yen/sqm, up 8.1% from the previous month and up 8.5% from last year. This is the highest price since August 2018 when prices reached a record high of 1,193,700 Yen/sqm.

Remaining inventory dropped by 66 units to 3,764 apartments, representing approximately 15.4 months.

The Shinjuku, Shibuya, Suginami and Nakano district saw a 29.1% year-on-year increase in transactions, while the average sale price per square meter increased by 1.9%.

1st quarter sales

In the first quarter of 2019 there were 180 reported sales of second-hand apartments …continue reading