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  • Writer's pictureAdam German

For first time ever Greater Tokyo average second hand SFH price tops JPY 40 million

Tokyo Kantei announced on December 7th the average price trends for newly constructed wood frame single-family houses (SFH) and second hand SFH in the Greater Tokyo Area (GTA) for November, 2023.


The GTA includes the following prefectures; Tokyo, Kanagawa, Chiba and Saitama prefectures.


The survey included properties with a land area of between ​​100 to 300 square meters, located within a maximum travel time of 30 minutes on foot or 20 minutes by bus from the nearest station, and included only freehold wood-frame SFH properties.


All percentages in the following article represent Month-on-Month (MoM) changes.


All prices in the below articles are averages and are only meant to illustrate trends.  They are not a guarantee on pricing as each property needs to be evaluated on a case by case basis.  


Always consult a Japan licensed realtor for your property needs.


Brand new wood-frame SFH

The average price in the Greater Tokyo Area (GTA) area continued to decline, standing at ¥44.74 million; a 0.4% decrease from the previous month. 


Broken down by prefecture:

Prefecture

Avg. Wood-Frame SFH Price

MoM Change

Tokyo

¥56.16 million

3.0% up

Kanagawa

¥45.87 million

4.9% down

Chiba

¥37.51 million

0.7% up

Saitama

¥37.31 million

5.9% down


Although Kanagawa and Saitama Prefectures reversed their trends to a decline after three straight months, Chiba Prefecture maintained a consecutive price increase.


Second hand wood-frame SFH

Conversely, in the market of second hand SFH, the average price in the GTA extended an upward trend, reaching ¥40.73 million; a 2.1% increase from the previous month. 


Broken down by prefecture:

Prefecture

Avg. Wood-Frame SFH Price

MoM Change

Tokyo

¥65.78 million

0.7% down

Kanagawa

¥41.53 million

3.4% up

Chiba

¥28.42 million

3.7% up

Saitama

¥29.31 million

3.9% up

For the first time since data collection began in April 2014, the average second hand wood-frame SFH in the GTA breached the ¥40 million mark.


Further reading:

Tokyo Kantei November, 2023 Major Metro SFH Report BRAND NEW (Japanese only)

Brand New SFH November 2023
.pdf
Download PDF • 507KB

Tokyo Kantei November, 2023 Major Metro SFH Report SECOND HAND (Japanese only)

Second Hand SFH November 2023
.pdf
Download PDF • 509KB

Source:

R.E. Port (Second hand SFH data; Japanese only)


R.E. Port (Brand new SFH data; Japanese only)

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