Tokyo’s real estate market continues to tighten amid decrease in supply
Day in Review
Housing loads increased 2.9% year over year in Japan for the 3rd quarter of 2019. Year to date average hovers around 2.58% with the 10-year long term average around 2.66%.
Inventory of condos for sale in Japan was down -29.5% for the month of October highlighting a continuous tightening of supply in the Tokyo real estate market. Year to date drop in condos supply hovers around -12.75% with the lowest figure coming in April around -39.3% while the highest increase in inventory recorded was in August around 21.1%.
The average unit price for the month of October was around Yen59,920,000 ($550,000) with the average square meter price around Yen914,000 ($8393).
The Rightmove Real estate prices index in the U.K was down -1.3%. Year to date average price change was around 0%. The lowest monthly decline in prices was at the end of December while the highest increase was in April.
Foreign direct investment in China (in domestic currency) was up 7.4% for the month of October, up from last month’s figure of 3.8%. The figure comes slightly lower than the year to date average of 8.13% which was highly skewed by the 23.20% increase FDI experience for the end of December. •