On January 14th, the Real Estate Information Network for East Japan released the December, 2021 Real Estate Market Trends report for the Greater Tokyo Area (GTA).

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

The Real Estate Information Network (REINS; pronounced “rains”) is Japan’s broker accessed only multi-listing system; the data from which is seen as a bellwether for the health of the real estate market in Japan. 

The following information is to illustrate market trends and should not be interpreted as actual property specific pricing.  Always consult a licensed real estate agent for your specific property needs.

The number of sales contracts executed for second hand condominiums in the GTA increased to 2,881 in December, up 13.7% Year-on-Year (YoY), marking the first YoY increase in six months. 

By prefecture, Tokyo saw 1,521 contracts (up 18.8% YoY), Saitama 333 (up 4.7% YoY), Chiba 348 (up 19.6% YoY), and Kanagawa 679 (up 5.4% YoY). 

Tokyo saw its first increase in sales contracts executed in seven months, Kanagawa Prefecture saw its first increase in six months, Saitama Prefecture saw its first increase in two months, and Chiba Prefecture saw its second consecutive monthly increase.

The average contracted price per square meter was 641,700 yen (up 11.6% YoY), marking the 20th consecutive month of increase and more than 5% higher than the previous month. 

The average sales contract price was 41.16 million yen (up 10.1% YoY), the 19th consecutive month of increase. 

The number of newly registered listings on REINS increased for the second consecutive month to 13,111 (up 8.1% YoY) however overall inventory decreased for the 25th consecutive month to 35,718 (down 6.4% YoY).

The number of sales contracts for second hand freestanding homes increased for the first time in five months to 1,157 (up 7.1% YoY), the highest number for any December in this segment since REINS was established in 1990. 

The average contract price was 35.64 million yen (up 2.9%), continuing a 14-month rise.

Further Reading

REINS Real Estate Market Trends December 2021 Edition (Japanese only; January, 2022)