The average purchase price for detached houses contracted in the Greater Tokyo Area is ¥45.15 million.

Recruit's research institute, the "SUUMO Research Center," recently announced the results of the "Newly Constructed Detached House Buyer Trends Survey." The survey targeted buyers of newly constructed detached houses in the Greater Tokyo Area (including Tokyo, Kanagawa, Saitama, Chiba, and parts of Ibaraki prefectures) from January to December 2023. The total number of responses collected was 1,384.

The average annual household income for all contracting households was ¥8.14 million, marking an increase of ¥90,000 compared to the previous year. When categorized by income bracket, "less than ¥6 million to ¥8 million" accounted for 24.3%, followed by "less than ¥4 million to ¥6 million" at 19.4%, and "less than ¥8 million to ¥10 million" at 19.1%.

The average purchase price was ¥45.15 million, increasing by ¥1.09 million compared to the previous year, marking the highest since the survey began in 2014. The most common price brackets were "less than ¥35 million to ¥40 million" (16.3%), "less than ¥30 million to ¥35 million" (15.5%), and "less than ¥50 million to ¥60 million" (14.2%). Looking at the average purchase price by location, the 23 wards of Tokyo averaged ¥64.04 million, a decrease of ¥1.59 million from the previous year.

The average building area remained almost the same as the previous year at 98.0 square meters, while the average land area slightly decreased to 119.3 square meters from 122.0 square meters the previous year.

The average self-funding amount decreased by ¥260,000 compared to the previous year to ¥6.49 million. The response for "Zero self-funding (full loan)" increased slightly to 27.5%, up by 1.9 percentage points.

The average total loan amount increased to ¥42.41 million, marking the highest amount since the survey began.

Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”

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