The below information is to illustrate trend data and is not to be interpreted as concrete pricing for any of the property types mentioned.  Always consult a real estate professional for property specific advice.

On November 10th, the Real Estate Information Network for East Japan (REINS) released the Monthly Market Watch Summary Report for October 2021.  

The report outlines the second hand condo sales in the month for the Greater Tokyo Area (GTA) along with other regional markets.

The GTA consists of Tokyo, Chiba, Saitama and Kanagawa prefectures.

Second hand sales contracts executed in the GTA for October were 3,440 contracts, down 5.4% from the same month last year, or year on year (YoY).  This marked the fourth consecutive month of decline. 

By prefecture, Tokyo saw 1,765 contracts (down 7.0% YoY), Saitama 414 (up 4.0% YoY), Chiba 432 (down 0.7% YoY), and Kanagawa 829 (down 8.5% YoY). 

The number of YoY contracts decreased for the fifth consecutive month in Tokyo and for the fourth consecutive month in Chiba and Kanagawa, while the number of contracts in Saitama increased YoY for the second consecutive month.

The average contract price per square metre rose for the 18th consecutive month to 604,900 yen (up 7.9%). The average contract price was 38.86 million yen (up 6.5%), the 17th consecutive month of increase. 

The number of newly advertised second hand condos decreased for the 26th consecutive month to 14,842 (down 1.7% YoY). This was the second consecutive month of decline. 

Overall second hand condo inventory in the GTA decreased 11.6% to 35,216 advertised units.

The number of contracts for existing freestanding houses decreased for the third consecutive month to 1,240 (down 4.6% YoY). 

The average contract price rose for the 12th consecutive month, to 35.72 million yen (up 14.1%).

The above information is to illustrate trend data and is not to be interpreted as concrete pricing for any of the property types mentioned.  Always consult a real estate professional for property specific advice.

All numbers above are averages with specific locales in the GTA having very different price per square metre price trends.  Not only location but building age and layout will greatly affect property pricing.  

Be sure to consult with a real estate agent in your area to learn more about specific pricing for your property. 

Further reading

October Monthly Market Watch Summary Report - REINS (Japanese only, November 2021)