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  • Writer's pictureAdam German

45th straight YoY rise for avg condo price per sqm in Greater Tokyo

On February 13th, the Real Estate Information Network Systems announced transaction trends report in the Greater Tokyo Area (GTA) for January, 2024.


The Real Estate Information Network Systems (REINS; pronounced “rains”) is a broker access only MLS system.


Transaction records in Japan are not mandated by law but are voluntarily offered by brokers upon closed deals.  As such, the data below shouldn’t be construed as a complete transaction record data set.  


That said, there is enough data to reliably indicate trends. 


All percentages below are Year-on-Year (YoY) figures unless otherwise specified. 


The GTA consists of Tokyo, Kanagawa, Saitama and Chiba prefectures.


The number of transactions in January for second hand condos in the GTA was 2,711 units, an increase of 5.0%, rising for the eighth consecutive month.


Broken down by prefecture:

Prefecture

No. of Units Sold

YoY Change

Tokyo

1,499

9.1% up

Kanagawa

609

3.6% down

Chiba

305

6.3% up

Saitama

298

3.5% up

The average GTA condo transaction price-per square meter was ¥759,800, an increase of 11.2%, marking the 45th consecutive month of YoY increases. 


The average transaction price per unit was ¥48.6 million, an increase of 13.7%, marking the 44th consecutive month of year-on-year increases. 


The number of transactions for existing detached houses was 962 units, an increase of 1.7%, continuing the positive trend from the previous month compared to the same month last year. 


The average transaction price was ¥38.03 million, a decrease of 0.6%, almost unchanged but lower than the same month last year for the first time in five months.


Further Reading:

Real Estate Information Network Systems for January, 2024 (Japanese only)

mw_202401_summary
.pdf
Download PDF • 1.08MB

Source:

R.E. Port News (Japanese only)

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