Second-hand apartment sales in December – REINS

According to REINS, 2,900 second-hand apartments were sold across greater Tokyo in December 2013, up 22.7% from the previous year, but down 7.1% from the previous month. The average sale price was 25,600,000 Yen, up 2.5% from the previous year but down 3.7% from November. The average price per square meter was 404,800 Yen, up 5.6% from last year but down 1.8% from November.

There were also more sales at the top end of the market. In the 4th quarter of 2013, 60 apartments over 100 million Yen were sold in the Tokyo metropolitan area, comprising 1.4% of the total. This is an increase of 131% from the same quarter in 2012. 141 apartments sold for between 70 ~ 100 million Yen, up 56.7% from 2012.

The average price of a second-hand apartment sold in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) in December was 44,600,000 Yen, up 3.1% from last year but down 12.3% from the previous month. It is worth noting that the average size of an apartment sold in December was 9% smaller than the previous month.

The average price per square meter was 835,200 Yen, up 8.2% from last year but down 3.7% from the previous month. The average apartment age was 17.45 years, 0.98 years older than the average in November. The average apartment size was 53.40 sqm (575 sqft).

Tokyo Metropolitan area:

  • No. of sales in December: 1,422 (+22.0% from last year; -7.7% from the previous month)
  • Average sale price: 31,120,000 Yen (+1.4%; -4.0%)
  • Average price per sqm: 536,000 Yen (+7.2%; -1.0%)
  • Average size: 58.06 sqm (-5.5%; -3.0%)
  • Average building age: 19.27 years (+0.68 yrs; +0.20 yrs)

Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato):

  • No. of sales in December: 171 (+47.4%; -2.8%)
  • Average sale price: 44,600,000 Yen (+3.1%; -12.3%)
  • Average price per sqm: 835,200 Yen (+8.2%; -3.7%)
  • Average size: 53.40 sqm (-4.8%; -9.0%)
  • Average building age: 17.45 years (+0.05 yrs; +0.98 yrs)

SECOND-HAND HOME SALES:

935 second-hand homes were sold across greater Tokyo in December, up 9.0% from last year but down 2.3% from the previous month. The average sale price was 28,490,000 Yen, down 6.4% from last year and down 10,000 Yen from November. The average house size was 103.40 sqm (-3.1% from last year and -1.1% from last month) and the average land size was 145.59 sqm (-0.7% from last year and -0.4% from last month). The average house sold was 20.82 years old.

In the Tokyo metropolitan area, 290 houses were sold, up 3.9% from last year and up 11.9% from the previous month. The average sale price was 39,850,000 Yen, down 6.8% from last year and down 1.4% from November. The average house size was 100.69 sqm (-3.3% from last year and -0.3% from last month) and the average land size was 113.01 sqm (+0.2% from last year and -6.7% from last month). The average house sold was 19.61 years old.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 65,050,000 Yen, up 3.7% from last year but down 13.5% from the previous month. The average house age was 18.01 years.

BRAND-NEW HOME SALES:

353 brand-new homes were sold across greater Tokyo, down 1.4% from last year and down 14.7% from the previous month. The average sale price was 33,690,000 Yen, down 0.1% from last year and down 2.7% from November. The average house size was 96.99 sqm (+2.0% from last year and +0.1% from last month) and the average land size was 114.84 sqm (+3.6% from last year and +0.3% from last month).

66 new homes were sold in the Tokyo metropolitan area, down 35.9% from last year and down 34% from November. The average sale price was 41,040,000 Yen, up 2.6% from last year and up 1.6% from last month. The average house size was 90.54 sqm (+0.1% from last year and -1.5% from last month) and the average land size was 92.83 sqm (-1.2% from last year and -2.8% from last month).

LAND

372 blocks of land (between 100 ~ 200 sqm) were sold in greater Tokyo, down 12.5% from last year and down 4.6% from the previous month. The average sale price was 209,100 Yen/sqm, up 3.2% from last year and up 9.5% from last month.

In the Tokyo metropolitan area, 127 blocks of land were sold, down 0.8% from last year but up 4.1% from the previous month. The average sale price was 343,300 Yen/sqm, up 0.4% from last year and up 12.5% from the previous month.

Source: REINS, January 15, 2014.