The average asking price for a family-sized, 70sqm (about 753sqft) apartment in Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya) reached a nine-year high of 69,210,000yen (about $574,000) in September, a year-on-year increase of 17.0%. This was the highest year-on-year increase for any of the ward regions measured by Tokyo Kantei.
The asking price for an apartment in Tokyo’s 23 wards also reached 49,130,000yen (about $407,000) in September, the highest price since January 2005, representing a year-on-year increase of 16.5%.
This was also the 15th consecutive month where the average asking price has increased, as sellers are aggressively pricing residential properties to match market sentiment and the increasing trend in actual sold prices.
In September, the average age of a resale apartment being sold in Tokyo’s 23 wards was 22.2 years. In the central six wards, the average age was 20.6 years.
Greater Tokyo
Central Wards of Major Cities
Major Cities
Central and Western Japan
For last month’s report, please see: Asking Price of Resale Condos in Tokyo’s 23 Wards: Up for 14 Straight Months