#Japan #Tokyo #Tokyo Real Estate #Secondhand Apartments #AtHome Company

Overview of Secondhand Apartment Market Trends in the Tokyo Metropolitan Area

The real estate landscape in the Tokyo metropolitan area has seen a continuous surge in the prices of secondhand apartments. According to a recent study commissioned by AtHome Co., Ltd., a leading real estate information service, the average price per unit has risen to a staggering 49.14 million yen. This marks the 15th consecutive month of price increases, indicating a strong demand in the housing market.

Price Increases Across Regions

a. Average Prices Overview
The analysis revealed that all eight areas within the Tokyo metropolitan region recorded increases in average prices compared to the same month last year. Specifically, the prices in Tokyo's 23 wards, as well as Yokohama and Kawasaki, have soared to their highest levels since January 2017.

b. Notable Price Milestones
The remarkable increase can be more clearly understood by examining the specifics. The average price for large family-oriented apartments (those built within the last decade) in the 23 wards of Tokyo has now surpassed 200 million yen. This trend reflects both a demand for spacious living and the development of properties that cater to families.

Detailed Regional Analysis

The research primarily targeted key areas, which included:

• - Tokyo Metropolis (both 23 wards and suburban areas)
• - Kanagawa Prefecture (Yokohama, Kawasaki, and surrounding cities)
• - Saitama Prefecture (Saitama City and nearby regions)
• - Chiba Prefecture** (Western Chiba, including cities like Kashiwa and Matsudo)

Monthly Comparisons

While the overall average price escalated, some areas did experience slight dips. For instance, Saitama City saw a marginal decline of 1.3%, and other regions in Chiba recorded a 1.0% fall. However, Tokyo's 23 wards maintained a robust growth of 2.1%, indicating a local trend of resilience against broader market fluctuations.

Year-Over-Year Analysis

Year-on-year comparisons reveal a consistent increase across all monitored regions for the past six months. This sustained growth suggests a solid demand resulting from various factors, including population growth and continued urbanization in these areas.

Conclusions and Future Outlook

In summary, the data from AtHome highlights a thriving secondhand apartment market in the Tokyo metropolitan area, characterized by relentless price increases and a growing consumer base eager to invest in residential properties. Going forward, sustaining this upward trend in prices will depend on various factors, including housing supply, economic conditions, and shifts in consumer preferences.

For further details, you can download the complete PDF report from the following link: AtHome Market Report