Post: Monday July 1, 2013
In 2012, the number of secondhand apartment contracts closed was the most ever recorded over one year, and showed an increase for the first time in three years.
The Real Estate Information Network for East Japan published “the Real Estate Market Trend in the Greater Tokyo area 2012.” This is a statistic of real estate sales transactions for properties registered to the organization from January through December 2012 in the Greater Tokyo area including Tokyo, Saitama, Chiba and Kanagawa prefectures.
Highest number of secondhand apartment sales over a year, and a sales price average of 25 million yen, continuing to decline from last year.
The number of secondhand apartment sales transactions in the Greater Tokyo area in 2012 has increased by 8.7% from the previous year and reached 31,397 cases. (See Chart 1) The increase is the first time in 3 years, and has exceeded the highest ever, which was 31,183 cases in 2009. The increase in sales was seen in all areas.
On the other hand, the average contracting price continued its decline this year, and marked 25 million yen (a 1.2% drop from the previous year). The price decrease was indicated in all areas. The percentage of contract prices that were less than 10 million yen increased up 19.6% from 18.6% last year.
The price per sqm. of properties was on average 381,900 yen, which is a 1.9% drop from the previous year.
The average private exclusive area was 65.48 sqm., which is larger by 0.7% compared to the preceding year. The average age of properties sold was 18.97 years old, compared to 18.27 years from last year, which may show that there are more older secondhand properties available in the market.
【Chart 1】 Secondhand Apartment Transactions in the Greater Tokyo area (Number of contracts and prices)
Highest number of secondhand house sales transactions in eight years, and a drop in the average contract price to 29.17 million yen.
The number of secondhand house sales transactions was 11,459 cases, an 8.4% increase from the preceding year. For the first time in eight years total transactions marked above the 11,000 range. (See Chart 2) The increase in transactions was seen in all areas.
On the other hand, the average contracting price continued its decline this year, and marked 29.17 million yen (a 1.7% drop from the previous year). The percentage of contract prices that were less than 20 million yen increased up 37.6% from 36.2% last year. The average land size was 147.63 sqm (down 0.5% from last year), and the average building size was 105.82 sqm (up 0.03% from last year).
The average age of properties sold was 19.71 years old (19.37 last year) which may show that like apartments, the secondhand houses available in the market are getting older.
Secondhand House Transactions in the Greater Tokyo area (Number of contracts and prices)
【Chart 2】 Secondhand House Transactions in the Greater Tokyo area (Number of contracts and prices)