According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in November was 32,740,000 Yen, up 2.4% from the previous month and up 13.6% from last year. This is the 15th month in a row to see a month-on-month increase. The increase was driven by a larger share of sales in the Tokyo metropolitan area, which pulled up the average. The average building age was 22.2 years.
In Tokyo’s 23 wards, the average asking price was 50,630,000 Yen, up 1.7% from the previous month and up 16.9% from last year. This is the 17th month in a row to see a month-on-month increase. The average building age was 21.8 years.
In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 70,560,000 Yen, up 1.2% from the previous moth and up 15.1% from last year. The average building age was 20.1 years.
In Osaka, a larger share of transactions in relatively new buildings in the city centre pulled up the average for the month. The average price in Osaka’s six central wards was 34,580,000 Yen in November, up 4.3% from the previous month and up 20.9% from last year.
Asking prices across Japan:
|Greater Tokyo||32,740,000 Yen (+2.4% from Oct. 2015; +13.6% from Nov. 2014)|
|Tokyo||45,480,000 Yen (+1.9%; +16.7%)|
|Kanagawa Prefecture||25,600,000 Yen (+1.6%; +4.2%)|
|Saitama Prefecture||19,500,000 Yen (+1.4%; +5.0%)|
|Chiba Prefecture||18,040,000 Yen (+0.6%; -1.8%)|
|Kinki Region||19,250,000 Yen (+1.6%; +6.2%)|
|Osaka||20,560,000 Yen (+3.1%; +11.1%)|
|Hyogo Prefecture||17,700,000 Yen (-0.1%; +0.3%)|
|Chubu Region||15,560,000 Yen (-0.3%; +3.9%)|
|Aichi Prefecture||16,580,000 Yen (+0.4%; +6.1%)|
Apartment asking prices by city:
|Tokyo 23-ku||50,630,000 Yen (+1.7% from Oct. 2015; +16.9% from Nov. 2014)|
|Yokohama City||27,290,000 Yen (+1.1%; +5.4%)|
|Saitama City||22,610,000 Yen (+0.7%; +7.3%)|
|Chiba City||16,620,000 Yen (-0.2%; -3.1%)|
|Osaka City||25,580,000 Yen (+3.7%; +16.2%)|
|Kobe City||18,340,000 Yen (+0.1%; +3.4%)|
|Nagoya City||19,520,000 Yen (+0.9%; +6.8%)|
Apartment asking prices in Tokyo, Osaka and Nagoya:
|Tokyo central 6 wards||70,560,000 Yen (+1.2% from Oct. 2015; +15.1% from Nov. 2014)|
|Jyonan, Jyosai 6 wards||51,040,000 Yen (+1.3%; +12.0%)|
|Jyohoku, Jyoto 11 wards||37,780,000 Yen (+1.0%; +13.9%)|
|Osaka central 6 wards||34,580,000 Yen (+4.3%; +20.9%)|
|Nagoya central 3 wards||24,180,000 Yen (+2.7%; +4.4%)|
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 prices after negotiations. Click here to read the REINS report about actual sale prices in November.
Source: Tokyo Kantei, December 21, 2015.