Average Home Price in Tokyo Metropolitan Area Continues to Increase
Tokyo Kantei Co., Ltd. released a report on October 7th, 2019 that shows the average price of newly-built single-family homes in Tokyo continues to trend upward. The report includes homes that have an average size of between 100 to 300 square meters, and are within a 30 minute walk to the nearest train station or within 20 minutes to the nearest station by bus.
The average price for a newly-built home in the Tokyo metropolitan area is 38.24 million yen, up 1.9% from last month. The average price in the Central Tokyo area is 46.14 million yen (up 3.0%). Areas included in the Greater Tokyo Metropolitan area such as Kanagawa Prefecture have an average home price of 41.56 million yen (up 5.9%), an increase for the first time in 5 months. In Chiba Prefecture, the average home price stands at 31.47 million yen (up 0.2% year-on-year), and lastly Saitama Prefecture’s average home price is 33.63 million yen (up 1.5% year-on-year) for the second consecutive month.
Other areas of Japan that showed an increase in home price include the Kinki area at 31.71 million yen (up 2.1%), Osaka Prefecture with an average price of 35.50 million yen (up 0.1%), Kyoto Prefecture at 33.34 million yen (up 4.8% year-on-year), an increase for the first time in 4 months, and Fukuoka Prefecture, which now stands at 30.78 million yen (up 2.8%).
Sekai Property Editorial Department
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