Heating Up – Tokyo’s Second Hand Condominium Market
Tokyo’s second hand condominium market is heating up now.
According to Tokyo Kantei, a real estate research company, August 2015’s sale figure revealed that the average second hand condominium price in Tokyo is JPY 43.51 million. The figure has been on rise for 12 consecutive months – 16.7% higher than August 2014’s figure.
The transaction volume is also on rise. Real Estate Information Network for East Japan, an industrial organization, reported that in August 2015, the transaction number has increased by 18.1% from the last year’s figure.
Osaka is also following this trend with 11.5% hike in the price from the last year with August 2015’s average sales price with JPY 32.32 million.
Source: Nikkei Shimbun Newspaper.