#Japan #Tokyo #LIFULL HOME'S #Tokyo Real Estate #Used Apartments

Tokyo's Used Apartment Price Trends

The real estate landscape in Tokyo is constantly evolving, and the latest report from LIFULL HOME'S has unveiled some striking statistics about the used apartment market. According to their month-to-month analysis, the average price of family-oriented used apartments in Tokyo's 23 wards has reached an astonishing ¥101.82 million, marking a 146% increase compared to the same month last year. This milestone not only sets a new record for the area but also continues the 20-month streak of rising prices in the real estate market.

Breakdown of Used Apartment Prices

LIFULL HOME'S collects data on real estate listings and customer inquiries monthly. The average listing price reflects various factors, including the area specifics, apartment size, and proximity to train stations. Here are some specific insights into various categories of used apartments:

• - Family-Oriented Used Apartments: In the Tokyo 23 wards, the price now stands at ¥101.82 million. Notably, the average inquiry price reached ¥70.2 million, first surpassing the ¥70 million mark.
• - Central Six Wards: Within the key districts (Chiyoda, Minato, Chuo, Shinjuku, Shibuya, Bunkyo), the listing price for family-oriented apartments is now ¥173.05 million, with inquiry prices pushing past ¥110.73 million for the first time.
• - Tokyo Suburbs: Prices here also rose to ¥36 million, although they remain significantly lower than prices in central wards, with an average gap of ¥72.22 million.

The report clearly indicates that the demand and prices are predominantly driven by the central regions of Tokyo, reflecting a vibrant urban housing market.

Singles-Oriented Apartments

In terms of properties targeted toward singles, the average listing price in the 23 wards reached ¥65.36 million, which marks a 138.4% increase year-over-year. The central areas see an average price of ¥84.63 million, showcasing the gap between singles and family-oriented options.

Used Detached Houses

In the category of used detached houses, prices are also on an upward trajectory. The average listing price in Tokyo's 23 wards has hit ¥91.72 million, again marking a new record. In the central six wards, detached houses average ¥121.1 million, while the suburban areas see an average of ¥38.73 million, indicating similar price growth trends.

Importance of the Report

The LIFULL HOME'S market report serves as a vital tool for anyone interested in entering the Tokyo real estate market. With detailed statistical data available in downloadable Excel format for transparent insights into property trends from January 2020 onwards, potential buyers and investors can make informed decisions.

Conclusion

As Tokyo continues to grow and adapt, these price trends reinforce the city's status as one of the world's most dynamic real estate markets. Whether for families seeking spacious homes or singles looking for compact living spaces, the Tokyo market offers various options, albeit at increasingly competitive prices. Understanding these trends is essential for anyone considering a move or investment in the area.

For more information and the downloadable report, visit LIFULL HOME'S. Multiple platforms under this brand offer resources for renting, buying, and investing in property across Japan.