Real Estate Information Network for East Japan (REINS) announced their results for real estate transaction movements in the Tokyo area for the month of May, 2011.
A total of 2215 contracts were made on second-hand apartments. This is a fall of 10.7% compared to May of the previous year, and the second month of decline. In April, the decline was 14.4%. The average purchase price was down 0.5% to 25.31 million Yen (308,000 USD). The average apartment size was 65.09 sqm and average age was 18.19 years.
For second-hand houses, a total of 851 contracts were made. This number is down 7.4% compared to May of 2010, and is also the second month of decline. In April, the decline was 13.1%. The average purchase price was up 1.2% to 29.64 million Yen (361,000 USD). The average house size was 105.56 sqm and land size was 150.20 sqm. The average age of the houses sold was 18.44 years.
The Asahi Shimbun, June 10, 2011.
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