Amid the COVID-19 pandemic, the market price of apartments in the Tokyo metropolitan area
It is rising at a considerable rate.

Meanwhile, since Russia's invasion of Ukraine,
Economic news is about inflation and the weak yen.
It has become a hot topic and is also being used to purchase condominiums.
It looks like it will have some impact.
This time, we will look at the trends in new apartment prices in the Tokyo metropolitan area and
Buying an apartment amid rising prices and a weak yen
Here are some points to be careful about.

Prices for new apartments in the Tokyo metropolitan area remain high

According to data released by the Real Estate Economic Institute in May
The average price of a new apartment in the Tokyo metropolitan area is
62,910,000 yenThis is still a high level.
We are maintaining it.
Compared to the same month last yearA big drop of 19.0%and
However, this was the same month last year.
High-priced apartments are on sale
This does not seem to be a sign of a market downturn.

Apartment prices exceed those of the bubble era

From the end of the Showa era to the Heisei era,
At the height of the bubble, real estate prices rose considerably.
There is an impression that it then fell sharply.

However, the price of the apartment at that time was61 million yendegree.
Current prices of apartments in the Tokyo metropolitan area
It far exceeds that.

Mortgage interest rates during the bubble period and now
Because of the large differences, it is difficult to make a simple comparison.
It's difficult, but the price is at a historically high level.
There is no doubt that this is the case.

Prices are also rising in the surrounding areas

This price increase is not only affecting central Tokyo,
In the surrounding areas of Chiba, Saitama and Kanagawa
It is notable that there is an upward trend.

The result of remote work becoming more common amid the COVID-19 pandemic
It is necessary to think about housing with commuting in mind
Fading is a major factor.

Impact of rising prices and the weak yen

It began with Russia's invasion of Ukraine
The price rise is felt by ordinary citizens.
It has become like that.
In addition, the exchange rate temporarily exceeded 135 yen to the dollar.
We are experiencing the weakest yen in 25 years.

In this economic climate,
Some people may hesitate to buy
But let's calmly analyze the impact.

Although rising prices are driving up costs, the impact on prices is minimal

Due to the rise in global inflation,
Prices of building materials, including lumber, have risen across the board,
Construction costs are steadily rising.
If this cost is passed on to the price,
What are the market prices for detached houses and condominiums?
It will be a step higher.

But in general, real estate prices are
It is not determined solely by construction costs,
Many things such as real estate prices in the area and mortgage interest rates
It is determined by factors.

The fact that costs cannot be simply passed on to prices
For condo developers
It can be a source of worry.

Therefore, even if there is inflation in daily necessities and food,
Real estate prices will rise in tandem
It seems that this is not the case.

Next time, we will continue toPrices of new apartments in the Tokyo metropolitan area rise"
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