Greater Tokyo second-hand apartment prices increase for 70th month in a row

According to REINS, 3,096 second-hand apartments were sold across greater Tokyo in October, down 4.6% from the previous month and down 0.2% from last year. The average sale price was 32,750,000 Yen, down 0.5% from the previous month but up 2.0% from last year. The average price per square meter was 505,700 Yen, down 1.6% from the previous month but up 0.8% from last year. This is the 70th month in a row to record a  year-on-year increase in sale prices.

1,519 second-hand apartments were sold in the Tokyo metropolitan area, down 9.2% from the previous month and down 4.2% from last year. The average sale price was 40,940,000 Yen, down 1.0% from the previous month but up 4.7% from last year. The average price per square meter was 677,100 Yen, down 2.5% from the previous month but up 3.2% from last year.

Central Tokyo’s 3 wards

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, the average sale price was 64,760,000 Yen, up 4.6% from the previous month and up 11.7% from last year. The average price per square meter was 1,142,500 Yen, up 4.0% from the previous month and up 10.0% from last year.

165 apartments were reported to have sold, down 14.5% from the previous month and down 19.9% from last year.

Source: REINS, November 12, 2018.

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