On November 10, the Real Estate Distribution Promotion Center released property market trends for November 2024, based on data from designated distribution organizations nationwide.
The average contract price for existing condominiums rose to ¥38.73 million, marking a 3.12% increase year-on-year and a return to positive growth. The average unit price per square meter reached ¥592,800, up 3.95% year-on-year, continuing its upward trend for the 54th consecutive month.
The average occupied area was 66.60 square meters, a slight increase of 0.29% year-on-year, while the average building age rose to 25.90 years, up 5.07%, marking the seventh consecutive month of aging. The number of contracts concluded totaled 6,220, up 13.44% year-on-year, turning positive for the first time in three months.
For existing detached houses, the average contract price was ¥25.86 million, up 2.74% year-on-year. The average building area remained unchanged at 113.01 square meters, while the average land area increased to 211.54 square meters, up 3.20%, also returning to positive growth.
The average building age for detached houses declined to 27.95 years, down 0.89% year-on-year, marking the first decrease in seven months. The number of contracts concluded was 4,101, a 23.97% increase year-on-year, continuing its positive trend for the 19th consecutive month.
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. "R.E.port"
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