November marked the 10th consecutive month where the average sale price of an existing apartment in Tokyo’s 23 wards has increased, new research has shown.

Data from Japan Property Central indicated the average reported sale price reached 722,500 Yen/sqm - a 0.8 per cent increase from the previous month and a 5.5 per cent increase from last year.

According to REINS, a total of 1,715 apartments were sold during the month, up 20.7 per cent from the previous month and up 6.1 per cent from last year.

In central Tokyo’s 3 wards of Chiyoda, Chuo, and Minato, 209 apartments were reported to have sold, up 27.4 per cent from the previous month and up 11.8 per cent from last year.

Source: Japan Property Central

This is the highest number of transactions ever seen for the month of November.

New listings for the month were down 9.4 per cent from last year.

The average sale price was 1,229,000 Yen/sqm, up 5.1 per cent from the previous month and up 9.6 per cent from last year.

This is the highest price seen since REINS began keeping data for central Tokyo in 2008.

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