Secondhand apartment prices in March – Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,480,000 Yen in March, up 0.1% from the previous month and up 5.8% from March 2013. This is the fourth month in a row to see a month-on-month increase, although the rate of growth has reduced. The average apartment age was 20.9 years, up 0.4 years from the previous month.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,220,000 Yen, up 0.7% from February and up 11.1% from last year. The average apartment age was 21.0 years, up 0.4 years from the previous month.

Across greater Tokyo, the average price was 28,610,000 Yen, down 1.2% from the previous month but up 2.9% from last year. This is the first time in 8 months that the month-on-month price has decreased. Prices were down from the previous month in all areas of greater Tokyo, except for Chiba Prefecture.

Average prices across all major districts in Japan were down from the previous month, with the exception of Chiba Prefecture which saw an increase of 0.8%. Average prices in Osaka City fell 5.1%.

  • Greater Tokyo: 28,610,000 Yen (-1.2% from the previous month; +2.9% from March 2013)
    • Tokyo: 37,730,000 Yen (-0.4%; +4.0%)
    • Kanagawa Prefecture: 24,580,000 Yen (-2.0%; +2.3%)
    • Saitama Prefecture: 18,550,000 Yen (-1.8%; +2.6%)
    • Chiba Prefecture: 18,610,000 Yen (+0.8%; +3.4%)
  • Kinki Region: 18,190,000 Yen (-1.8%; +0.5%)
    • Osaka: 18,530,000 Yen (-2.8%; +0.2%)
    • Hyogo Prefecture: 17,660,000 Yen (-2.7%; -2.8%)
  • Chubu Region: 15,030,000 Yen (-3.3%; +1.8%)
    • Aichi Prefecture: 15,520,000 Yen (-2.9%; +2.6%)

Apartment asking prices by city:

  • Tokyo 23-ku: 41,480,000 Yen (+0.1%; +5.8%)
  • Yokohama City: 25,850,000 Yen (-2.3%; +2.2%)
  • Saitama City: 20,430,000 Yen (-3.0%; -3.4%)
  • Chiba City: 17,130,000 Yen (-1.1%; +0.5%)
  • Osaka City: 22,020,000 Yen (-5.1%; +1.9%)
  • Kobe City: 17,940,000 Yen (-1.7%; -3.0%)
  • Nagoya City: 17,740,000 Yen (-2.3%; +3.8%)

Apartment asking prices in Tokyo, Osaka and Nagoya:

  • Tokyo central 6 wards: 57,220,000 Yen (+0.7%; +11.1%)
  • Jyonan, Jyosai 6 wards: 44,340,000 Yen (-0.1%; +6.7%)
  • Jyohoku, Jyoto 11 wards: 32,390,000 Yen (-0.1%; +4.4%)
  • Osaka central 6 wards: 28,630,000 Yen (-5.3%; +2.3%)
  • Nagoya central 6 wards: 21,230,000 Yen (-2.0%; +8.5%)

About the data:

  • Tokyo central 6 wards: Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya.
  • Jyonan, Jyosai 6 wards: Shinagawa, Meguro, Ota, Setagaya, Nakano, Suginami.
  • Jyohoku, Jyoto 11 wards: All other wards in Tokyo.
  • Osaka central 6 wards: Fukushima, Nishi, Tennoji, Naniwa, Kita, Chuo.
  • Nagoya central 3 wards: Naka, Higashi, Chikusa.

The data above is based on advertised prices which may be higher than actual sale prices after negotiations. Click here to read the REINS report on actual sale prices in March.

Source; Tokyo Kantei, April 21, 2014.

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