Tokyo area May 2024 condo sales transactions rise for 12th straight month
- Adam German
- Jun 11, 2024
- 1 min read
On June 10th, the Real Estate Information Network for East Japan released its May 2024 real estate market trends report for the Greater Tokyo Area (GTA).
In May, the number of transactions for pre-owned (existing) condominiums in the GTA reached 2,845 sales, marking a 3.9% increase compared to the same month last year (YoY) and the 12th consecutive month of year-over-year growth.
The GTA consists of Tokyo, Kanagawa, Chiba and Saitama prefectures.
May 2024 condo sale broken down by prefecture are:
Prefecture | No. of Condo Transactions | YoY Change |
Tokyo | 1,536 | 6.3% up |
Kanagawa | 650 | 2.7% down |
Chiba | 330 | 2.5% up |
Saitama | 329 | 8.9% up |
Kanagawa was the only prefecture to experience a YoY decrease compared to the previous year.
The average transaction price per square meter rose to ¥763,000, a 7.5% increase, continuing a 49-month streak of YoY price increases.
The number of new listings on-market fell to 15,088, a 3.3% decrease, marking the third consecutive month of YoY declines.
Overall Inventory levels stood at 45,603 properties, a marginal decrease of 0.4%, representing the first YoY decline in 28 months.
Further Reading:
May 2024 Real Estate Information Network for East Japan released its May 2024 real estate market trends report (Japanese only)
Source:
R.E. Port News (Japanese only)
