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2019-11-20

Used Condominium Prices in Central Tokyo Break ¥ 80 Million Record

  • News

Tokyo Kantei Co., Ltd. released a report showing that the price of second-hand condominiums in the Tokyo Metropolitan Area is surging recently. The average selling price in September for a 70 square meter apartment in central Tokyo exceeded 80 million yen for the first time since prices started being recorded in 2002.

 (Chiyoda, Chuo, Minato, Shinjuku, Shibuya, Bunkyo) saw an average selling price of 80.65 million yen for used condominiums, 1.3% higher than the previous month. It has been on the rise for 8 consecutive months. The average price in Tokyo's 23 Wards increased by 2.3% to 57.64 million yen, and Tokyo as a whole, rose 2.7% to 51.65 million yen.

The average used condominium selling price in the Greater Tokyo Metropolitan Area (Tokyo, Kanagawa, Chiba, Saitama) saw an increase of 0.6% to 37.27 million yen due to significant price increases in Tokyo and Kanagawa Prefecture. The price has risen for 3 consecutive months. The Kinki area has shown no change, holding steady at an average price of 23.67 million yen. The average for the Chubu area was 2.1 million yen, 2.1% higher. 

Source: Nikkei

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