Tokyo metropolitan area built apartments contract unit price rises for 14 consecutive months

Real Estate Information Network for East Japan announces trends in the Tokyo metropolitan area real estate distribution market in June 2021 (12/July).

The number of built apartments contracts in the Tokyo metropolitan area in the same month was 3,262 (up 5.0% year-on-year), surpassing the previous year’s results for 4 consecutive months. By prefecture, Tokyo had 1,609 cases (down 0.4%), Saitama had 373 cases (up 3.9%), Chiba had 439 cases (up 14.0%), and Kanagawa had 841 cases (up 12.4%). Tokyo started to decrease for the first time in 4 months, but Saitama increased for 6 consecutive months, and Chiba and Kanagawa increased for 4 consecutive months.

The contract unit price per square meter was 594,200 yen (up 11.1% year-on-year), rising for 14 consecutive months and double-digit for 3 consecutive months, accelerating the price increase. The average contract price was 38.73 million yen (9.4% year-on-year), rising for 13 consecutive months. The number of new registrations was 13,049 (down 19.2%), and the number of inventories was 33,641 (down 26.2%), both of which decreased significantly.

The number of contracts for existing single-family homes was 1,329 (up 15.2% year-on-year), surpassing the previous year’s results for 12 consecutive months, the highest number in June since the inauguration of the organization in 1990. The average contract price was 35.41 million yen (up 18.2% year-on-year), rising for eight consecutive months.