Tokyo second-hand apartment sales down 10% in May

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.

Source:
The Asahi Shimbun, June 10, 2011.

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