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  • Writer's pictureAdam German

March Greater Tokyo existing single family home transactions rise 13.7 percent

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). 


Cherry blossoms in bloom as seen from Akasaka Mitsuke bridge

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)


mw_202403_summary
.pdf
Download PDF • 1.08MB

Source: 

R.E. Port News (Japanese only)  

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