On December 9th, Tokyo Kantei announced the average price trends of new and second hand freestanding homes in the Greater Tokyo Area (GTA) for November of 2021.
The GTA consists of Tokyo, Kanagawa, Chiba and Saitama Prefectures.
The surveys covered freehold properties with land plot sizes of between 100-300 square meters, are located within a 30-minute walk or 20-minute bus ride from the nearest station, and built with wood frame construction.
All the numbers below are averages. Build year, exact location and differing property sizes can all have positive or negative impacts on property pricing. These numbers are meant to illustrate trends only and in no way guarantee property pricing.
Always consult a licensed real estate agent for your specific property needs.
Brand New Freestanding Homes
The average price in the GTA rose for the second month in a row, to 40.16 million yen, up 2.7% from the previous month and the first time since June of 2019 that the avg. price exceeded 40 million yen.
By prefecture, Tokyo Prefecture rose to an avg. 50.05 million yen (up 4.6%), Kanagawa rose to an avg. 42.96 million yen (up 2.1%), and Chiba rose to an avg. 34.76 million yen (up 4.0%), all rising for the second consecutive month.
Saitama Prefecture saw a reversal downwards from the previous month to an avg. 34.81 million yen (down 0.2%).
Second Hand Freestanding Homes
The average price in the GTA rose for the second month in a row to 36.53 million yen, up 0.2% from the previous month.
By prefecture, the average price in Tokyo rose sharply for the second consecutive month to 59.84 million yen (up 7.3%). This was due to the continued occurrence of high-priced units for sale in Meguro, Ota and Setagaya wards.
Kanagawa, Chiba, and Saitama prefectures all saw reversal declines, with 37.51 million yen (down 5.6%), 24.83 million yen (down 3.1%), and 27.46 million yen (down 0.4%), respectively.
Further Reading
Brand New Freestanding Home Report for November of 2021 (Japanese only; Tokyo Kantei; December, 2021)
Second Hand Freestanding Home Report for November of 2021 (Japanese only; Tokyo Kantei; December, 2021)
