By major 3 metropolitan areas and major cities/ transition of monthly rent of condominiums
In May cosmopolitan area risen +1.1% making 2,927yen/㎡ compared to previous year same month. Tokyo 23 wards shows continuous rise, however, substantially is a flat transition. Kinki area shows a decrease after 5 months. Chubu area down turning. Net trend remains steady.
2019 May, metropolitan rent for condominium has sustained an upward trend of +1.1% making 2,927yen/㎡ on the surface, result due to decrease of cases of surrounding 3 prefectures and an increase of higher rent level cases in Tokyo. By prefecture, Tokyo had a small decline of -0.5% making 3,459yen /㎡. Kanagawa(-0.9%, 2,154yen/㎡), and Chiba (-0.9%, 1,619yen/㎡) has also shown a 1% decrease from the influence of its main administrative district market price fall. In addition, Saitama has shown an up rise of +0.1% making 1,661/㎡, however, considering the rejuvenation of an average built, substantially the trend is flat to weak transition.
Kinki area has shown a decreased of -0.7% making 1.880/㎡ first time after 5 months from the influence of flat to weak transition of its main area. Osaka, a flat trend making 2,130yen/㎡, stopping the uptrend since the beginning of the year. On the other hand, Hyogo has continuously decreased since the previous month with a wider rate of decline. In addition, rent itself is below level compared to the beginning of the year.
Chubu area -1.6%making 1,767yen/㎡, Aichi -1.4% making 1,813yen/㎡, both appeared decrease from the increase cases of older built. Nonetheless, the net trend remains steady for these areas. Source:
MLIT released its 2019 January’s real estate price index (housing and commercial real estate) and its quarter real estate price index (commercial real estate). The number is based on an average of 100 in 2010.
According to this index; January’s nationwide housing total was 117.2 (previous 110.8), a 4.4% increase compared to the same period of the previous year, the number resulted in a continuous 50 months rise from the year-earlier month. Residential areas 104.1(previous 99.3), single-family houses 105.6(previous 100.5), and condominiums 147.4(previous 143.9). All has risen compared to the same month last year.
By prefecture, Tokyo housing total was 128.0 (+4.3% increase year-on-year), residential areas 116.8(+4.6%), single family houses 109.1(+2.0%), condominiums 146.1(+3.5%). Osaka housing total 120.6(+3.7%), residential areas 102.0(-5.5%), single-family houses 107.5(+4.2%), condominiums 149.1(+4.4%).
Furthermore, the nationwide fourth quarter commercial real estate comprehensive was 120.4(previous quarter 124.2). Retails 140.3(previous 138.9), offices 136.0(previous 143.7), condominium/apartment buildings 131.9(previous 135.9).
News source: MLIT (Ministry of Land, Infrastructure, Transport and Tourism)