How is the market going?: TOKYO KANTEI Monthly report June 2019 (condominium market)

Fine-looking market?

TOKYO KANTEI Monthly report June 2019

Remarks:

Source: Tokyo Kantei (June 2019) The market in central districts in Tokyo is starting to show the downtrend.

Red : Market movement (sellers listing price)

 

Tokyo Kantei (real estate think tank) just announced the latest report on the price movement of the second-hand condominium market.

 

The price of second-hand apartment buildings in major metropolitan areas continued to fall at ¥ 45.59 million in the 23 wards of Tokyo, down 1.5% from the previous month.

 

It is thought that this is due to the case share reduction in the central Tokyo area and weakness in the surrounding area.

In addition, Saitama City (-1.7%, 27.74 million yen) and Chiba City (-2.8%, 18.32 million yen) are also negative, and the rate of decline in Chiba City, where the number of cases from old buildings increased, was compared It became huge.

On the other hand, Yokohama City has maintained its upward trend, with + 0.9% at 31.12 million yen.

The average prices of major cities in the Kinki region (Osaka area) rose for three months in a row to 32.84 million yen, which is + 1.1% from

the previous month.

The rate of increase on a year-on-year basis also shows a high level, and no signs of a strong increase are seen.

Also, Kobe City, which had dropped significantly in the previous month, has slightly recovered to ¥ 20.14 million, up 1.7% this month,

and has recovered to the ¥ 20 million mark again.

In Nagoya City, it was 24.1 million yen, flat from the previous month. After reaching the ¥ 24 million level at the beginning of the year, the high-level stable trend has continued, and the strong uptrend trend has been broken.

In the seven central wards of Tokyo, it increased slightly by 0.2% y / y to 77.87 million yen, but it has risen for 5 consecutive months.

On the other hand, in the surrounding area, the number of built-up cases decreased in most administrative districts due to the decrease in the number of built-up cases, and the Seongnam and Josai areas continued to fall.

In the central area of ​​Osaka City, it continued to rise sharply to ¥ 43.55 million, up 2.0%.  the rate of increase has reached a double-digit number, which indicates the height of needs for pre-owned condominiums.

In the central area of ​​Nagoya City, it has fallen slightly, to -0.4%, for 5 consecutive months.

Final Thought

The second-hand market is always important to follow. Unlike newly built condominiums, the second-hand market is always dictated by the market mechanism.

Overall, the market looks settling down and is slightly in the bearish sentiment.

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Tokyo Kantei report June 2019

Toshihiko Yamamoto
Real estate investing consultant and author.
Founder of Yamamoto Property Advisory in Tokyo.
International property Investment consultant and licensed
real estate broker (Japan).
He serves the foreign companies and individuals to buy and sell
the real estates in Japan as well as own homes.
He holds a Bachelor’s degree in Economics from
Osaka Prefecture University in Japan
and an MBA from Bond University in Australia

Toshihiko’s book, “The Savvy Foreign Investor’s Guide to Japanese Properties: How to Expertly Buy, Manage and Sell Real Estate in Japan”is now out on Amazon, iBooks (iTunes, Apple) and Google Play.
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