The price of an apartment is soaring.
The average price of newly built condominiums released in the Tokyo metropolitan area in October was 67.5 million yen per unit, a record high beyond 1990 during the bubble period.
Research firms say that this year's condominium prices are expected to be the highest ever, even across the year.
According to a private research firm, Real Estate Economic Research Institute, the average price of newly built condominiums released in October in Tokyo, Kanagawa, Saitama, and Chiba increased by 10.1% from the same month last year, per unit. It was 67.5 million yen.
This is the highest ever for October, beyond 1990 during the bubble era.
By region, compared to the same month last year,
▽ Tokyo 23 wards increased by 11.8% to 84.55 million yen,
▽ Kanagawa prefecture decreased by 11% to 51.01 million yen,
▽ Saitama prefecture increased by 16.7% to 46.98 million yen. ,
▽ Chiba prefecture is down 4.2% to 42.88 million yen, and the
23 wards of Tokyo are pushing up the overall price.
In some months, the average price of newly built condominiums released in the Tokyo metropolitan area exceeded 70 million yen per unit, and the research company said that it exceeded 61.23 million yen in 1990 even throughout the year. It is expected to be the best ever.
Why are apartment prices soaring?
4 factors in the background
Why are apartment prices soaring?
It has been pointed out that there are four factors behind this: the new corona, power couples, labor shortages, and building materials and land.
The first "new corona".
For many, the opportunity to go out has decreased and the time spent at home has increased, which means that the demand for owning a home is increasing for a more comfortable stay.
The convenience of shopping and the large number of choices for children to go to school tend to be emphasized, and it is said that the 23 wards of Tokyo are particularly popular.
The second "power couple" is a couple who work together and have a high household income.
In addition to the increasing number of power couples, the BOJ's large-scale monetary easing continues to create an environment of ultra-low interest rates, and the ease with which mortgages can be obtained seems to have contributed to the growing popularity of condominiums.
In addition, labor costs are rising due to the “labor shortage” in the construction industry, the prices of imported “building materials” are rising due to the normalization of overseas economies and the depreciation of the yen, and construction sites are limited. , The rising price of "land" is also a factor.
After the burst of the bubble economy, the price of condominiums in the Tokyo metropolitan area fell to an average of 40.3 million yen per unit in 2002, but has continued to rise since then, reaching 60.83 million yen last year, following 1990. It was the second highest in the past.
Condominiums for sale in the Olympic Village renovation attract attention
Condominiums in the metropolitan area where demand is increasing.
In November, a property is still in the spotlight.
A large-scale condominium in Chuo-ku, Tokyo, where the athletes' village of the Tokyo Olympics and Paralympics will be renovated and sold.
Due to the postponement of the tournament, each real estate company suspended sales, but resumed it in November.
This time around 630 units will be sold for delivery after March 2024.
The floor plan ranges from 2LDK to 4LDK, and the most popular price range is 59 million yen.
It takes about 20 minutes on foot to reach the nearest station, but it is popular when the price of the condominium is soaring and it is affordable.
A man in his 50s in Chiba Prefecture who visited for a preview said, "I think it's cheaper than the surrounding market and it's a price range that even office workers can afford," and a man in his 60s in Tokyo said, "A few years ago. It's not cheap compared to other apartments, but now I feel it's cheaper than other condominiums. "
In addition, Ayumu Furuya of "Mitsui Fudosan Residential", who is in charge of sales, said, "Because of the influence of Corona, customers are becoming more particular about their homes, and it is important not only to" go home and sleep "but also as a place to spend time. I think it has become like that. "
Expert "It is unlikely that the price of a condominium will fall"
Regarding the soaring price of condominiums, Fumiko Watanabe, a senior researcher at the Nisseikiso Research Institute, said, "People who have a relatively large income, such as those who work for large companies, are buying, but anyone can buy it. It's gone. "
On top of that, regarding the outlook for the future, "Condominium construction takes one to two years after purchasing land, and the property that is currently on sale is the property that purchased land before Corona. Land prices have not declined since then. Given that, it is unlikely that the price of condominiums will fall. "