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Japan: steady as she goes

Oct 04, 2017 | 0 Comment(s)

Trend: the average price of condominiums in Tokyo rose by 3.54% y-o-y in Q2 
Residential property prices in the capital city increased 0.37% during the latest quarter.
Analysis: Demand is mixed. 
Existing condominium sales in Tokyo rose by 2.24% y-o-y to 22,947 units in the first seven months of 2017, according to The Land Institute of Japan. On the other hand, sales of existing detached houses in Tokyo fell by 1.7% to 11,277 units over the same period. 
Rents, rental yields: poor yields at 2.66%
Tokyo apartment costs are high, at around $16,322 per sq. m. 
Japan: city centre apartment, buying price, monthly rent (120 sq.m.) 
   Buying price  Rent per month  Yield
 Tokyo  $1,958,640  $4,346  2.66%
Recent news: The world's third largest economy is expected to grow by 1.8% for fiscal year 2017, an improvement from y-o-y growth rates of 1% in 2016, 1.2% in 2015, and 0.3% in 2014, according to the Bank of Japan.

Market Analysis - Japan
Time series for residential property
Average price of existing condominuim sales, Tokyo Metropolitan Area
Price/Rent Ratio: 38 yrs

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