On May 20, the Real Estate Economic Institute’s issued their report on new apartment sales in greater Tokyo for the month of April.
4,093 new apartments were released for sale during the month, down 2.8% from April 2012 and down 20.4% from last month. Of those, 1,891 apartments were in Tokyo (46.2%), 995 were in Kanagawa Prefecture (24.3%), 764 were in Saitama Prefecture (18.7%) and 443 were in Chiba Prefecture (10.8%).
3,199 apartments were sold, which resulted in a contract rate of 78.2%. The rate is down 3.6 points from last year and down 3.9 points from last month.
The average apartment price was 47,280,000 Yen, up 3,140,000 Yen from last year (7.1%). The average price per square meter was 661,000 Yen, up 41,000 Yen (6.6%) from last year. In Tokyo’s 23-ku, the average price was 58,090,000 Yen, or 839,000 Yen/sqm.
The average apartment size was 71.54 sqm, and the average distance from the nearest train station was 6.8 minutes. 77% of apartments sold were 3-bedrooms. 112 apartments, or 3.5% of the total, were sold for over 100 million Yen each.
The following condominiums saw same-day sell-outs:
1) Proud Tower Chiyoda Fujimi Residence: 85 units sold in stage 1 with an average price of 106,080,000 Yen.
2) Proud Tower Takanawadai: 65 units sold in stage 1 with an average price of 78,190,000 Yen.
3) Crevia Shin-Nakano: 24 units sold in stage 1 with an average price of 42,310,000 Yen.
4) Nice Urban Square Yokohama Kamihoshikawa: 36 units sold with an average price of 34,330,000 Yen.
5) Proud Oomiya: 168 units sold with an average price of 54,300,000 Yen.
Source: Real Estate Economic Institute ()