Real estateContracts for Second-Hand Condominiums in the Tokyo Metropolitan Area Increased by Double Digits from the Previous Year

1162 min

East Japan Real Estate Distribution Organization announced a trend of the real estate market in Tokyo in September 2019.

In the same month, the number of contracted second-hand (existing) condominiums in the Tokyo metropolitan area increased by double digits to 3,589 (up 10.6% year-on-year). In September, it was the highest ever since the establishment of the organization in May 1990. By region, all regions except Kanagawa Prefecture increased year-on-year. The number in Tokyo wards increased by double digits to 1,516 cases (up 11.6%), surpassing the previous year’s results for eight consecutive months. Tama’s contracts for second-hand condominiums increased significantly by 388 cases (up 23.2%).

The average contract price per square meter was 537,900 yen (up 4.7%), and the average contract price was 34.63 million yen (up 5.2%), both surpassing the previous year’s results for eight consecutive months. The number of new registrations was 17,189 (down 0.8% year-on-year). The number of inventory items was 47,660 (up 2.1%), surpassing the previous year’s results for 52 consecutive months.

The number of contracts for existing houses was 1,254 (up 15.0%), a double-digit increase for the second consecutive month. The average contract price was 30.91 million yen (up 1.5%), surpassing the previous year’s results for the first time in three months.