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  • Writer's pictureAdam German

Greater Tokyo existing condo transaction volume up for first time in two years

The Real Estate Information Network for East Japan (aka East Japan REINS; pronounced “rains”) announced on April 18th a report outlining property trends in the Greater Tokyo Area (GTA) for the period of April 2023 to March 2024. 

 

REINS is a broker-accessed only multi-listing service. All data below is generated from within that system. 

 

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

 

All numbers below are averages for the GTA and in no way offer a guarantee on pricing. The data is presented to illustrate trends only.  

 

Unless otherwise specifically stated, all percentages refer to Year-on-Year (YoY) changes. 

  

Greater Tokyo Condominium Trends 

 

For the fiscal year, the number of existing condominiums sold in the GTA reached 36,595 units (an increase of 3.4% compared to the previous year), surpassing the previous year's figures for the first time in two years.  

 

Broken down by prefecture: 


No. of condos sold

YoY change

Tokyo

19,879

5.0% up

Kanagawa

8,484

2.2% up

Saitama

3,980

1.4% up

Chiba

4,252

0.8% up

The average GTA transaction price per square meter rose by 7.5% to ¥736,700, while the average total transaction price rose by 8.2% to ¥47 million, marking the 11th straight year of increase.  

 

Existing Greater Tokyo Area 2023 Condo Price Trend Data

Courtesy of East Japan REINS, translated by Patience Realty. 

 

The average age of the properties stood at 23.80 years (compared to 23.48 years the previous year), indicating an aging trend.  

 

The number of newly listed properties reached 196,431 units, an 8.4% increase from the previous year. 

 

Greater Tokyo Single Family Home Trends 


Existing Greater Tokyo Single Family Home Price Trends for 2023

Existing SFH historical data courtesy of East Japan REINS, translated by Patience Realty. 

 

The number of existing single-family homes (SFH) sold reached 13,160 units (a slight increase of 0.2%), surpassing the previous year's figures for the first time in two years.  

 

Greater Tokyo Area Brand New Single Family Home Historical Price Data 2023

Brand new historical data courtesy of East Japan REINS, translated by Patience Realty. 

 

Meanwhile, the number of newly built SFH sold increased by 13.3% to 4,949 units, surpassing the previous year's figures for the first time in three years. 

 

Further Reading: 

The Real Estate Information Network for East Japan FY 2023 Trend Report (Japanese only) 

sf_202304-202403
.pdf
Download PDF • 1.11MB

Source:  

R.E. Port News (Japanese only) 

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