The Real Estate Information Network for Japan (REINS; pronounced “rains”) published its August 2024 property market report, revealing a notable drop in the average sales price of existing condominiums across the country, the first Year-on-Year (YoY) decline in 51 months.
Key Highlights for Japan Existing Condominiums in August 2024:
Average Sales Price: ¥36.87 million, a 1.02% YoY decline.
Avg. Price per Square Meter: ¥566,200, marking a 0.21% YoY increase, continuing an uninterrupted 51-month rise.
Avg. Unit Size: 66.69 square meters, down 0.40% YoY, marking the first size reduction in three months.
Avg. Age of Units: 25.91 years, up by 5.11% YoY, continuing a four-month upward trend.
Transaction Volume: 4,630 deals, reflecting a 4.89% increase YoY.
Key Highlights for Japan Existing Single Family Home in August 2024:
Average Sales Price: ¥25.67 million, up 2.80% YoY, marking six consecutive months of price increases.
Avg. Floor Area: 113.48 square meters, a 0.40% YoY increase.
Avg. Land Size: 204.85 square meters, a 4.55% drop after four months of expansion.
Avg. Age of Properties: 28.14 years, an increase of 4.18%, marking a four-month upward trend.
Transaction Volume: 3,293 deals, a substantial 18.24% rise, extending 16 consecutive months of growth.
Further Reading:
REINS August 2024 Market Report (Japanese only; includes prefectural granular data)
Source:
R.E. Port News (Japanese only)
