According to REINS, the number of transactions made on secondhand apartments in greater Tokyo in January 2012 fell 3.3% from the year prior to 2305. Tokyo City was the only area that saw an increase in the number of transactions for the month.
Chiba saw the highest drop with only 270 transactions for the month – down 18.9% from January 2011. This is the 10th continuous month of decline.
The number of transactions in each area within greater Tokyo is as follows:
- Tokyo City: 1128 (up 2.6% from January 2011)
- Kanagawa Prefecture: 615 (down 4.4%)
- Saitama Prefecture: 292 (down 5.2%)
- Chiba Prefecture: 270 (down 18.9%)
The average sales price had fallen by 2.0% to 25,330,000 Yen (329,000 USD) and the average age of the apartment sold was 18.4 years.
Transactions on secondhand homes
For secondhand homes, the total number of transactions in January fell by 6.3% to 756. This is the 4th continuous month of decline. Saitama was the only area which saw an increase in transactions with a total of 181 sales for the month, up 18.3% from 2011.
The average sales price fell by 5.6% to 28,960,000 Yen (376,000 USD).
Source: The Asahi Shimbun, February 10, 2012.