Tokyo Apartment Sale Prices Increase for 64th month

According to REINS, 2,641 second-hand apartments were reported to have sold across greater Tokyo in January 2018, down 12.3% from the previous month and down 7.7% from last year. The average sale price was 33,590,000 Yen, up 1.2% from the previous month and up 7.0%from last year. The average price per square meter was 516,000 Yen, down 0.6% from the previous month but up 4.6% from last year. This is the 61st month in a row to see a year-on-year increase in sale prices.

1,403 apartments were sold in the Tokyo metropolitan area, down 11.6% from the previous month and down 6.2% from last year. The average sale price was 41,190,000 Yen, down 0.4% from the previous month but up 7.9% from last year. The average price per square meter was 680,300 Yen, down 1.3% from the previous month but up 5.0%from last year. This is the 64th month in a row to record a year-on-year increase in sale prices.

CENTRAL TOKYO’S 3 WARDS

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, the average sale price was 59,780,000 Yen, down 5.3% from the previous month but up 13.9% from last year. The average price per square meter was 1,087,700 Yen, down 2.6% from the previous month but up 8.9% from last year. This is the 10th month in a row to record a year-on-year increase in prices.

153 apartments were reported to have sold during the month, down 25.7% from the previous month and down 23.5% from last year. New listings for the month were down 15.1% from last year. This is the 15th month in a row to see a year-on-year drop in the number of new listings. Remaining inventory dropped for the 10th month in a row to 3,473 apartments, down 8.7% from January 2017.

Districts within Saitama prefecture have seen inventory levels rise by between 15 ~ 20% year-on-year, while unsold inventory in Yokohama has risen year-on-year for the past 7 months, with inventory in January up 10.3% from last year.

source:  REINS, February 13, 2018.