Tokyo apartment asking prices increase for 22nd consecutive month

Japan apartment prices Apr2016

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in April 2016 was 34,280,000 Yen, up 1.3% from the previous month and up 15.5% from last year. The average building age was 22.1 years.

In the Tokyo metropolitan area, the average asking price was 47,410,000 Yen, up 1.2% from the previous month and up 16.3% from last year. This is the 22nd month in a row to see an increase in prices. The average building age was 21.6 years.

In Tokyo’s 23 wards, the average price was 52,560,000 Yen, up 1.5% from the previous month and up 15.2% from last year.  The average building age was 21.5 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average asking price was 71,740,000 Yen, up 0.4% from the previous month and up 10.5% from last year. The average building age was 20.0 years.

Asking prices across Japan:

Greater Tokyo34,280,000 Yen (+1.3% from Mar. 2016; +15.5% from Apr. 2015)
  Tokyo47,410,000 Yen (+1.2%; +16.3%)
  Kanagawa Prefecture26,470,000 Yen (+1.1%; +6.3%)
  Saitama Prefecture20,050,000 Yen (+0.0%; +6.5%)
  Chiba Prefecture18,400,000 Yen (+0.9%; +3.5%)
Kinki Region20,370,000 Yen (+2.1%; +11.6%)
  Osaka22,150,000 Yen (+2.9%; +17.0%)
  Hyogo Prefecture17,510,000 Yen (-1.7%; +0.6%)
Chubu Region15,800,000 Yen (-1.3%; +4.2%)
  Aichi Prefecture16,770,000 Yen (-1.8%; +5.7%)

Apartment asking prices by city:

Tokyo 23 wards52,560,000 Yen (+1.5% from Mar. 2016; +15.2% from Apr. 2015)
Yokohama City28,160,000 Yen (+0.8%; +7.2%)
Saitama City23,910,000 Yen (+3.8%+11.4%)
Chiba City16,690,000 Yen (+2.9%; +0.9%)
Osaka City27,990,000 Yen (+1.6%; +23.1%)
Kobe City18,130,000 Yen (-0.8%; +1.5%)
Nagoya City19,900,000 Yen (-2.0%; +6.5%)

Japan apartment prices Apr20162

Apartment asking prices in Tokyo, Osaka and Nagoya:

Tokyo central 6 wards71,740,000 Yen (+0.4% from Mar. 2016; +10.5% from Apr. 2015)
Jyonan, Jyosai 6 wards52,260,000 Yen (+0.8%; +9.3%)
Jyohoku, Jyoto 11 wards39,540,000 Yen (+1.4%; +13.5%)
Osaka central 6 wards37,720,000 Yen (+2.8%; +22.5%)
Nagoya central 3 wards25,560,000 Yen (+0.5%; +10.0%)

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 April.

Source: Tokyo Kantei, May 26, 2016.