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  • Writer's pictureAdam German

Tokyo prefecture new and second hand SFH average prices drop in December

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)

Brand New SFH Kantei December 2023
.pdf
Download PDF • 506KB

Tokyo Kantei SECOND HAND SFH December 2023 report (Japanese only)

Second Hand SFH Kantei December 2023
.pdf
Download PDF • 511KB

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