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  • Writer's pictureAdam German

Single family home April 2024 price trends for the Greater Tokyo Area

On May 9th, Tokyo Kantei unveiled the latest data on the average price trends for brand new and existing wood frame single-family homes (SFH) in the Greater Tokyo Area (GTA) for April 2024.  


The survey encompasses properties with land areas ranging from 100 to 300 square meters, situated within a 30-minute walk or a 20-minute bus ride from the nearest station, and focusing only on freehold landownership properties. 


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


April 2024 SECOND HAND Family Home Price Trends in Greater Tokyo


In the GTA, the average second hand price surged to ¥38.51 million, marking a notable 6.4% increase compared to the previous month (Month-on-Month or MoM).  


Broken down by prefecture: 

Prefecture

Avg. SFH Price

% Change MoM

Tokyo

¥62.49 million

13.1% up

Kanagawa

¥39.28 million

2.9% down

Chiba

¥27.88 million

6.1% up

Saitama

¥28.42 million

2.7% up

Tokyo prefecture saw a substantial rise while Kanagawa prefecture entered the ¥30 million range for the first time since July of 2022.


Chiba prefecture reversed a four-month decline in April and Saitama prefecture reversed its trend to the upside as well.


April 2024 BRAND NEW Single Family Home Price Trends in Greater Tokyo 


In the GTA, the average brand new price climbed to ¥45.4 million, indicating a 2.5% increase from the previous month.  


Broken down by prefecture: 

Prefecture

Avg. SFH Price

% Change MoM

Tokyo

¥54.01 million

2.2% down

Kanagawa

¥48.57 million

0.7% up

Chiba

¥36.95 million

2.4% up

Saitama

¥37.89 million

1.1% up

Chiba Prefecture reversed a three-month decline and Saitama Prefecture also saw a reversal.


Despite the decline in Tokyo prefecture, the overall increase in the GTA was due to the turnaround in Chiba and Saitama Prefectures. 


Further Reading:

Tokyo Kantei SECOND HAND SFH April 2024 Report (Japanese only)

Kantei SECOND HAND SFH April 2024
.pdf
Download PDF • 511KB

Tokyo Kantei BRAND NEW SFH April 2024 Report (Japanese only)

Kantei BRAND NEW SFH April 2024
.pdf
Download PDF • 506KB

Sources: 

 

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