On December 10th, the Real Estate Information Network (REINS) released their Real Estate Sales Trends of Second Hand Properties report for November, 2021.

The average sale price for second hand condominiums was 31.99 million yen, up 4.94% year on year (YoY), and the average price per square meter was 482,800 yen, up 7.65% YoY.

Both metrics were positive for the 18th consecutive month. 

The average exclusive floor size was 67.55 square meters, down 1.76% YoY, and the average age of the building was 24.05 years, up 3.67% YoY. 

The number of executed second hand condo sales contracts was 6,410, down 1.90% YoY, the fifth consecutive monthly decline.

For second hand freestanding houses, the average sales price rose for the 17th consecutive month to 25.77 million yen, up 9.27% YoY. 

The average building area was 113.14 square meters, down 0.32% YoY, and the average land area was 200.83 square meters, up 2.07% YoY, the first increase in three months. 

The average structural age increased for the first time in two months to 25.38 years, up 0.35% YoY. 

The number of second hand freestanding house sales contracts decreased for the fifth consecutive month to 3,343, down 6.98%.

The above numbers are meant for trend explanation purposes only and do not guarantee any specific property pricing.  Always work with a licensed real estate agent in your target locale for more detailed pricing information.

Further Reading

Real Estate Sales Trends of Second Hand Properties for November, 2021 (Japanese only; December, 2021)

Japanese real estate firm brokerage revenues for first half of FY 2022 (REthink Tokyo; November, 2021)