There was a sharp increase in Tokyo apartment sales throughout February, according to REINS.

Data supplied by agents indicated 2,000 apartments were reported to have sold in the Tokyo metropolitan area last month, signalling a 42.1 per cent increase from January and a 9.8 per cent increase from 2019.

February was also the 13th month in a row to see a year-on-year increase in sale prices, with the average price per square meter recorded at 547,600 Yen, up 2.8 per cent from last year. 

The average sale price was 44,260,000 Yen, up 2.3 per cent from last year.

In central Tokyo’s 3 wards of Chiyoda, Chuo and Minato, 235 apartments were reported to have sold, up 40.7 per cent from the previous month and up 9.3 per cent from last year. 

Source: Japan Property Central

This is the highest number of transactions seen during the month of February since REINS began recording this data in 2008. 

It was a different story for new listings, which dropped for the 6th month in a row with a 3.9 per cent drop in February. 

Remaining inventory is also down 4.8 per cent from last year.

This is the 3rd month in a row to see a year-on-year decline in inventory. 

According to REINS, new listings in the city centre dropped for the 5th month in a row with a 10.4 per cent decline from last year.

Remaining inventory dropped for the 3rd month in a row and is now down 8.6 per cent from last year.

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