Tokyo Kantei announced on January 11th the average price trends for both brand new and second hand single-family homes (SFH) in the Greater Tokyo Area (GTA) updated for December, 2023.
The GTA consists of Tokyo, Kanagawa, Saitama and Chiba prefectures.
The properties measured included those with a land area of 100 to 300 square meters, located within a 30-minute walk or a 20-minute bus ride from the nearest station, are wood frame and are freehold land rights only.
Unless specifically stated, all percentages are Month-on-Month (MoM) figures.
Brand New
The average GTA SFH price stood at 37.99 million yen, marking a 6.7% decline compared to the previous month.
Broken down by prefecture:
Prefecture | Avg. Price | MoM Change |
Tokyo | ¥60.35 million | 8.3% down |
Kanagawa | ¥42.46 million | 2.2% up |
Saitama | ¥26.81 million | 8.5% down |
Chiba | ¥27.88 million | 1.9% down |
Saitama Prefecture saw the most significant decline, reaching 26.81 million yen (a 8.5% decrease), with a substantial year-on-year drop of 10.8%.
Second Hand SFH
The GTA average price rebounded to 45.05 million yen, indicating a 0.7% increase compared to the previous month.
Broken down by prefecture:
Prefecture | Avg. Price | MoM Change |
Tokyo | ¥54.17 million | 3.5% down |
Kanagawa | ¥48.23 million | 5.1% up |
Chiba | ¥38.31 million | 2.1% up |
Saitama | ¥37.86 million | 1.5% up |
Further Reading:
Tokyo Kantei BRAND NEW SFH December 2023 report (Japanese only)
Tokyo Kantei SECOND HAND SFH December 2023 report (Japanese only)
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