Central Tokyo apartment asking prices reach record high in December

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo was 37,290,000 Yen in December 2018, up 0.5% from the previous month and up 3.2% from December 2017. The average building age was 24.3 years. 

In Tokyo’s 23 wards the average asking price was 54,610,000 Yen, up 0.4% from the previous month and up 2.3% from 2017. The average building age was 24.1 years. In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 76,010,000 Yen, up 0.6% from the previous month and up 3.2% from last year. It has also exceeded a previous price record set in August. The average building age was 22.6 years.

Asking prices for the year of 2018

In 2018 the average asking price across greater Tokyo was 36,380,000 Yen, a 1.7% increase from 2017. The Kinki region, which includes Osaka, saw a 3.3% year-on-year increase, while the Chubu region (Nagoya and surrounds) saw a 6.1% increase. 

Asking prices in Tokyo’s 23 wards increased for the 6th year in a row to 53,850,000 Yen, up 1.3% from 2017. The average price is now up 32.6% from 2009, while the average age of a building listed for sale has increased from 18.1 years in 2009 to 23.5 years in 2018.

Source: Tokyo Kantei, January 24, 2019.