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  • Writer's pictureAdam German

Greater Tokyo YoY condo sales volume up for 11th straight month

On May 10th, the Real Estate Information Network Systems (REINS; pronounced “rains”) unveiled the April 2024 real estate transaction report for the Greater Tokyo Area (GTA). 


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


In April, the number of transactions for GTA second-hand condominiums reached 3,251 sales, marking a 10.1% Year-on-Year (YoY) increase.  


This marks the 11th consecutive month of rising YoY figures for second hand condos.  



April 2024 data broken down by prefecture saw notable increases across all prefectures:

Prefecture

No. of Sold Condos

% Change YoY

Tokyo

1,812

16.2% up

Kanagawa

718

1.4% up

Chiba

373

2.2% up

Saitama

348

8.1% up

The GTA median condo sales price per square meter rose by 11.3% YoY to ¥788,000, continuing its upward YoY trend for the 48th consecutive month.  


The average condo transaction price per unit stood at ¥50.18 million, marking an 11.9% increase from the previous year and surpassing YoY figures for the 47th consecutive month.  



While the number of newly registered condos in the REINS system decreased by 2.1% to 16,902 units in April, total on-market advertised inventory continued to rise, reaching 46,027 units; a 0.9% increase compared to the same period last year, marking the 27th consecutive month of surpassing YoY figures. 


Further Reading: 

REINS April 2024 Real Estate Transaction Report (Japanese only) 

mw_202404_summary
.pdf
Download PDF • 1.07MB

Source: 

R.E. Port News (Japanese only)

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