Tokyo metro apartment prices increase for 43rd consecutive month

 

Tokyo Apartment Price 201604

According to REINS, 3,294 second-hand apartments were sold across the greater Tokyo area in April 2016, down 8.2% from the previous month but up 17.3% from April 2015. March is typically a busy month for transactions, so it is normal to see a drop in transactions in the following month.

The average sale price was 29,170,000 Yen, down 4.6% from the previous month but up 3.2% from last year. The average price per square meter was 465,000 Yen, down 2.7% from the previous month but up 4.4% from last year. This is the 40th month in a row to see a year-on-year increase in the sale price on a per square meter basis. The average building age was 20.46 years.

In the Tokyo metropolitan area, 1,653 second-hand apartments were sold, down 8.5% from the previous month but up 20.0% from last year. The average sale price was 36,380,000 Yen, down 3.5% from the previous month but up 4.2% from last year. The average price per square meter was 628,000 Yen, down 2.5% from the previous month but up 5.1% from last year. This is the 43rd month in a row to see a year-on-year increase in the sale price per square meter. The average building age was 19.13 years.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards (Chiyoda, Chuo and Minato), 190 second-hand apartments were sold, down 10.8% from the previous month but up 20.3% from last year. This is the highest number of transactions seen for the month of April since record-keeping began in 2008.

The average sale price was 49,220,000 Yen, down 12.7% from the previous month and down 8.2% from last year. The average price per square meter was 954,100 Yen, down 9.9% from the previous month and down 4.3% from last year. The average building age was 16.09 years.

Past transactions in April (central Tokyo’s 3 wards):

  • 2016: 190
  • 2015: 158
  • 2014: 156
  • 2013: 187
  • 2012: 131
  • 2011: 90
  • 2010: 127
  • 2009: 110
  • 2008: 108

Tokyo Apartment Inventory 201604

Sale prices per square meter:

Greater Tokyo:465,000 Yen+4.4% from Apr. 2015
Tokyo Metropolitan Area628,000 Yen+5.1%
Chiyoda, Chuo, Minato954,100 Yen-4.3%
Shinagawa, Ota, Meguro,
Setagaya
724,300 Yen+1.5%
Shinjuku, Shibuya, Suginami,
Nakano
839,000 Yen+12.0%
Bunkyo, Toshima, Kita, Itabashi,
Nerima
590,100 Yen+4.0%
Taito, Koto, Edogawa, Sumida,
Katsushika, Adachi, Arakawa
533,800 Yen+6.3%
Saitama Prefecture:269,600 Yen+6.8%
Saitama City358,400 Yen+16.1%
Chiba Prefecture:268,000 Yen+0.5%
Chiba City234,300 Yen+0.6%
Kanagawa Prefecture:378,400 Yen-1.2%
Yokohama City391,300 Yen-0.2%
Kawasaki City469,600 Yen-2.2%
Tokyo Metropolitan Area
No. of sales in April:1,653 (-8.5% from Mar. 2016; +20.0% from Apr. 2015)
Remaining inventory:23,997 apartments (14.52 months)
Average sale price:36,380,000 Yen (-3.5%; +4.2%)
Average sale price per sqm:628,000 Yen (-2.5%; +4.2%)
Average size:57.92 sqm
Average building age:19.13 yrs (-0.33 yrs; +0.18 yrs)
Central Tokyo’s 3 wards (Chiyoda, Chuo, Minato)
No. of sales in April:190 (-10.8% from Mar. 2016; +20.3% from Apr. 2015)
Remaining inventory:3,896 apartments (20.51 months)
Average sale price:49,220,000 Yen (-12.7%; -8.2%)
Average sale price per sqm:954,100 Yen (-9.9%; -4.3%)
Average size:51.59 sqm
Average building age:16.09 yrs (-2.7 yrs; -0.15yrs)

SECOND-HAND HOMES

1,161 second-hand homes were sold across greater Tokyo, down 8.1% from the previous month but up 17.5% from last year. The average sale price was 29,980,000 Yen, down 1.0% from the previous month but up 0.9% from last year. The average house size was 102.97 sqm and the average land size was 148.40 sqm. The average building age was 20.65 years.

347 second-hand homes were sold in the Tokyo metropolitan area, down 10.3% from the previous month but up 23.9% from last year. The average sale price was 42,950,000 Yen, down 7.3% from the previous month and down 1.3% from last year. The average house size was 100.86 sqm and the average land size was 110.87 sqm. The average building age was 18.99 years.

In Tokyo’s popular residential areas of Shinagawa, Ota, Meguro and Setagaya, the average sale price was 78,450,000 Yen, down 9.6% from the previous month but up 21.9% from last year. The average house size was 123.00 sqm and the average land size was 108.04 sqm. The average building age was 17.30 years.

BRAND NEW HOMES

419 brand new homes were sold across greater Tokyo, down 19.9% from the previous month but up 25.1% from last year. The average sale price was 34,860,000 Yen, up 2.8% from the previous month and up 1.6% from last year. The average house size was 98.08 sqm and the average land size was 116.14 sqm.

107 new homes were sold in the Tokyo metropolitan area, down 17.1% from the previous month but up 28.9% from last year. The average sale price was 43,740,000 Yen, up 6.5% from the previous month and up 9.1% from last year. The average house size was 91.26 sqm and the average land size was 98.32 sqm.

LAND

537 blocks of land (between 100 ~ 200 sqm) were sold across greater Tokyo, down 2.5% from the previous month but up 24.6% from last year. The average sale price was 181,000 Yen/sqm, down 11.2% from the previous month and down 6.9% from last year.

143 blocks of land were sold in the Tokyo metropolitan area, down 11.7% from the previous month but up 18.2% from last year. The average sale price was 296,000 Yen/sqm, down 12.5% from the previous month and down 7.8% from last year.

Source: REINS, May 16, 2016.

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