On April 10th, the Real Estate Information Network Systems (REINS; pronounced “rains”) announced updated sales transaction trend data in March of 2024 for the Greater Tokyo Area (GTA).
Separated into condos and single-family homes (SFH), the report focuses on second-hand properties, not brand new.
The GTA consists of Tokyo, Kanagawa, Saitama and Chiba prefectures.
All percentages are year-on-year (YoY) changes unless otherwise mentioned.
All numbers are averages for the GTA and in no way offer a guarantee of any kind.
Always consult a licensed real estate agent for your property specific needs.
GTA Condominium Trends
The number of transactions for existing condominiums in the GTA for March was 3,810 units, marking a 10.7% increase compared to the same month last year and surpassing the previous month’s YoY figure for the 10th consecutive month.
Broken down by prefecture:
Prefecture | No. of Transactions | YoY Change |
Tokyo | 1,727 | 12.4% up |
Kanagawa | 867 | 7.8% up |
Saitama | 440 | 22.6% up |
Chiba | 436 | 5.8% up |
All prefectures exceeded March 2023 condo transactions.
The average contracted price per square meter reached ¥758,800, an 8.7% increase from the previous year, continuing an upward YoY trend for 47 consecutive months.
The average contract price per unit was ¥48.21 million, up 8.6% from the previous year, marking the 46th straight month of increase.
GTA Single Family Home Trends
The number of transactions for second-hand SFH increased significantly by 13.7% to 1,349 units compared to the same month last year, marking the fourth straight month of YoY growth.
The average contracted price rose for the second consecutive month to ¥41.37 million, up 5.7% from the previous year.
Further Reading:
Real Estate Information Network Systems Second-Hand Condo and SFH Report March 2024 (Japanese only)
Source:
R.E. Port News (Japanese only)
