2022.04.20 UpDate

WEDNESDAY, APRIL 20, 2022

Greater Tokyo Area’s Freestanding Property Prices Experience Fluctuation

Real estate in the GTA(Greater Tokyo Area) has experienced somewhat of a rollercoaster start to the year 2022. According to Rethinktokyo.com, as of April, reports were released about brand new freestanding properties  as well as secondhand freestanding properties within the Greater Tokyo Area. For those who are unfamiliar with the term GTA, it basically refers to Tokyo, Kanagawa Prefecture, Chiba Prefecture and Saitama Prefecture. The reports were with reference to properties with  lot sizes of 100- 300 square meters, and within around a 30 minute walk from the nearest stations.


Results were presented as follows:


– The brand new freestanding properties;



  • There was an average increase in the price and viewed as a constancy. The price has been increasing consistently for six months up to 41.66 million yen. Approximately a 0.6% increase month-on-month.

  • When breaking it down to each prefecture individually, Tokyo Prefecture saw a significant decline of 5.4% in value, month-on-month. Their value went down to 50.31million yen.

  • The other three prefectures all saw a significant upside. Kanagawa rose up by 4.1% to a value of 45.15 million yen, Chiba rose up by 2.6% to a value of 35.18 million yen. Saitama’s value increased by 1.3% to 36.35 million yen month-on-month.


 


-The secondhand freestanding properties.;



  • The secondhand freestanding property price experienced a reversal upside within the Greater Tokyo Area. Tokyo Prefecture experienced and a significant increase! up by 12.3% to a value of 61.21 million yen. Saitama and Chiba both experienced reversal upsides of 3.4% and 3.3% respectively, month-on-month.

  • Kanagawa Prefecture came second to Tokyo, with an increase of 5.8% month-on-month and rose up to a value of 40.78 million yen! Kanagawa continues to impress with its property increase in value.


 


 


Sources: Rethingtokyo.com


Website: https://www.rethinktokyo.com/news/2022/04/10/tokyo-prefecture-freestanding-home-prices-fluctuate-march/1649594076


 


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zila.mbekela@remax-agt.net


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