In 2020 the common sale worth of an current condominium throughout larger Tokyo noticed a year-on-year enhance for the eighth consecutive 12 months. Based on REINS, the common sale worth was 551,700 Yen/sqm, up 3.2% from 2019. Sale costs have elevated by 44.5% over the previous Eight years.
The common condominium measurement was 65.24 sqm (702 sq.ft), up 1.3% from 2019, whereas the common constructing age was 21.99 years (2019: 21.64 years). Residences took a median of 88.Three days to promote, up 8.2 days from 2019.
Transactions of residences priced over 100 million Yen had been up 7.2% from 2019 and up 75% from 2016. The sub-50 million Yen worth has seen transactions fall.
As anticipated, the variety of listings to hit the market in 2020 dropped for the second 12 months in a row with a 11.3% lower in 2020. The common measurement of an condominium listed on the market was 57.08 sqm (614 sq.ft), and the common constructing age was 26.83 years.
Total, a complete of 35,825 residences had been reported to have bought, down 6.0% from 2019. This can be as a result of state of emergency that noticed many brokerages quickly shut their doorways in April and Could. This quantity exceeds the availability of brand-new residences that bought throughout Tokyo as builders proceed to battle with a scarcity of obtainable land websites, rising building prices, and non permanent showroom closures throughout the state of emergency.
It’s also price noting that the info supplied by REINS solely contains gross sales that had been publicly reported to their itemizing database. A bigger variety of transactions go unreported, which implies the precise transaction quantity for current residences is greater.
Indifferent Dwelling Gross sales
A complete of 13,348 indifferent properties had been reported to have bought throughout larger Tokyo, up 2.4% from 2019 and exceeding a earlier document set in 2016. The common sale worth was 31,100,000 Yen, down 0.2% from 2019 and the second 12 months in a row to see a year-on-year lower.
The common land measurement was 147.99 sqm (1,592 sq.ft) up 0.8% from 2019. The common home measurement was 105.24 sqm (1,132 sq.ft), up 0.3% from 2019. The common constructing age was 21.62 years (2019: 21.38 years).
New listings dropped 11.2% from 2019. This was the primary time in Four years to see a lower in listings.
Supply: REINS, January 22, 2021.
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