Secondhand apartment prices in April – 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 41,500,000 Yen in April, up just 20,000 Yen from the previous month and up 5.4% from April 2013. Although the last three months saw month-on-month increases, the rate of growth has been shrinking and appears to have almost stopped. The average apartment age was 21.4 years, up 0.5 years from the previous month.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,250,000 Yen, up 0.1% from the previous month and up 8.8% from last year. This is the ninth month in a row to see a month-on-month increase, although the rate of growth also appears to have slowed considerably in April after seeing a 2.1% increase in February and a 0.7% increase in March. The average apartment age was 21.3 years, up 0.3 years from the previous month.

The average price across greater Tokyo was 28,420,000 Yen, down 0.7% from the previous month but up 2.6% from last year. The decline is due to the weakening prices in the areas outside of Tokyo. Kanagawa, Saitama and Chiba Prefecture all saw a month-on-month decline in apartment prices.

  • Greater Tokyo: 28,420,000 Yen (-0.7% from the previous month; +2.6% from April 2013)
    • Tokyo: 37,820,000 Yen (+0.2%; +4.2%)
    • Kanagawa Prefecture: 24,270,000 Yen (-1.3%; +2.1%)
    • Saitama Prefecture: 18,440,000 Yen (-0.6%; +3.4%)
    • Chiba Prefecture: 18,510,000 Yen (-0.5%; +3.2%)
  • Kinki Region: 18,380,000 Yen (+1.0%; +1.8%)
    • Osaka: 18,820,000 Yen (+1.6%; +2.0%)
    • Hyogo Prefecture: 17,680,000 Yen (+0.1%; -1.8%)
  • Chubu Region: 14,970,000 Yen (-0.4%; +1.8%)
    • Aichi Prefecture: 15,460,000 Yen (-0.4%; +2.5%)

Apartment asking prices by city:

  • Tokyo 23-ku: 41,500,000 Yen (0.0% from the previous month; +5.4% from April 2013)
  • Yokohama City: 25,490,000 Yen (-1.4%; +1.6%)
  • Saitama City: 20,350,000 Yen (-0.4%; -1.1%)
  • Chiba City: 17,240,000 Yen (+0.6%; +1.0%)
  • Osaka City: 22,660,000 Yen (+2.9%; +5.1%)
  • Kobe City: 17,660,000 Yen (-1.6%; -4.2%)
  • Nagoya City: 17,660,000 Yen (-0.5%; +2.6%)

Apartment asking prices in Tokyo, Osaka and Nagoya: 

  • Tokyo central 6 wards: 57,250,000 Yen (+0.1% from the previous month; +8.8% from April 2013)
  • Jyonan, Jyosai 6 wards: 44,220,000 Yen (-0.3%; +5.7%)
  • Jyohoku, Jyoto 11 wards: 32,340,000 Yen (-0.2%; +4.6%)
  • Osaka central 6 wards: 30,440,000 Yen (+6.3%; +9.1%)
  • Nagoya central 6 wards: 21,050,000 Yen (-0.8%; +4.8%)

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 April.

Source: Tokyo Kantei, May 22, 2014.

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