High-end Realty Specialist

What is the latest market information of new condominiums?

Sales of new condominiums remain robust. Condominiums near train stations, both in the suburbs of Tokyo center and other regions, have received special attention. For detailed information, let’s look at the market information of new and pre-owned condominiums in the capital area for September, 2021.  

What is the latest market information of new condominiums in the capital area? 

According to the report published by the Real Estate Economic Institute “Trends in the New Condominium Market in the Tokyo Area, September 2021,” the number of newly released condominiums in the Tokyo area was 2,311 units in September, 2021, a decrease of 6.7% compared to the same month of the previous year but an increase of 19.1% compared to the previous month. It was reported that this is the first decrease compared to the same month of the previous year in two months.  

Trends in the New Condominium Market in the Capital Area

The average price per unit of new condominiums was 65,840,000 yen,  a 13.3% increase compared to the same month of the previous year (58,120,000 yen). The price per ㎡ was 9,890,000 yen, 12.8% up compared to the same month of the previous year (877,000 yen). 

The average price of new condominiums in Tokyo 23 wards is 86,070,000 yen, up 24.3% compared to the same month of the previous year. The price per ㎡ is 13,150,000 yen,  a 14.8% increase compared to the same period of the previous year. 

（Source: The Real Estate Economic Institute’s Report “Trends in the New Condominium Market in the Tokyo Area, September 2021″）

The Decreased Number of Pre-owned Condominiums Contracts, Compared to the Same Month of the Previous Year

According to the report “Monthly Market Watch on Pre-owned Condominiums for September, 2021” published by the Real Estate Information Network System for East Japan, the number of pre-owned condominiums contracts in the capital area for September, 2021 was 3,176, a 4.6% decrease compared to the same month of the previous year (3,328).　

Trends in the Pre-owned Condominium Market in the Capital Area

（Source: The Real Estate Information Network System for East Japan’s Report ” Monthly Market Watch on Pre-owned Condominiums for September, 2021″）

The average contract price of pre-owned condominiums in the capital area is 39,850,000 yen, an increase of 7.9% compared to the same month of the previous year. The average contract price per ㎡ is 621,300 yen, an increase of 11% compared to the same month of the previous year, suggesting a continued upward trend.

However, despite the upward tread in prices, the growth in the number of contracts has slowed down. Consequently, the inventory of pre-owned condominiums had been increasing for two consecutive months. 

The subsequent is going to introduce two attractive properties selected by GLOCALY. 

The Pick-up Properties by GLOCALY

• Exelsior Meguro Aobadai (Residence, Under Construction)

Meguro Aobadai is known as a luxury residential area, lined with magnificent mansions. 

The location is excellent, a 6-minute walk to Shinsen Station on the Keio Inokashira Line and a 14-minute walk to Shibuya Station.

With a land area exceeding 300 ㎡, it is also eligible for special exemption for the replacement of business assets. 

• Excellence Building Ginza 3-Chome (Building・Vacant Lot)

 This is a rare property, situated in the particularly prime location in Ginza, a 2-minute walk to Higashi-Ginza Station and a 5-minute walk to Ginza Station.

The gross rate of return in this location is 4.2%. While attractive, currently, it is possible to sell only the land.

For more information