Tokyo Metropolitan Area Housing Prices Rise for 11 Consecutive Quarters
Nomura Real Estate Solutions Co., Ltd. announced the results of its
“Housing Price Trends” survey for the Tokyo metropolitan area as of April 1, 2023, on April 6.
The fixed-point survey is conducted quarterly, with 169 survey points.
The average rate of change for the first quarter of 2023 in the Tokyo metropolitan area
housing prices was 0.7% (the same as the previous survey),
marking an increase for the 11th consecutive quarter.
The percentage of “price increase” points rose to 31.4% (from 30.8%),
“stable” points decreased to 65.7% (from 66.9%), and “price decrease” points increased to 3.0% (from 2.5%).
By area, all regions experienced an increase for the 11th consecutive quarter.
Tokyo’s 23 wards increased by 1.1% (from 1.3%), Tama area of Tokyo increased by 0.9% (from 0.5%),
Kanagawa increased by 0.5% (from 0.3%), Saitama increased by 0.6% (from 0.5%), and Chiba increased by 0.5% (from 0.7%).
The rate of change expanded in the Tama, Kanagawa, and Saitama areas compared to the previous survey,
while it shrank in Tokyo’s 23 wards and Chiba.
On an annual basis, the average rate of change was 3.7% (down from 5.0%).
The percentage of “price increase” points decreased to 55.6% (from 60.4%),
“stable” points increased to 40.8% (from 37.3%), and “price decrease” points increased to 3.6% (from 2.4%).
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.