Properties and Trends in Contracts Concluded in Premium Condominium Areas

Properties and Trends in Contracts Concluded in Premium Condominium Areas
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In the graph above, you can see the trends in average contract price per tsubo and number of contracts concluded for each of seven premium condominium areas: Azabu/Akasaka/Roppongi, Hiroo/Ebisu,Aoyama/Shibuya, Shirokane-takanawa/Azabu-juban,Ginza, Bancho/Kojimachi and Ichigaya/Yotsuya, with the economy topics and Nikkei Stock Average provided for objective comparison. The bar graph shows the number of contracts concluded, while the broken-line graph shows the average contract price per tsubo.

In the period reviewed here (January 1 to March 31, 2021), the index of average contract price per tsubo was 141.7. This figure marks a 3.0-point drop from the previous period (October 1 to December 31, 2020), which saw the highest figure recorded for average contract price per tsubo since tabulation began. Although the decline broke a two-quarter rising trend, average contract price per tsubo remains at an overall high level.

The number of contracts concluded is basically unchanged from the previous quarter at 163, maintaining a trend at a high level of over 160 contracts for the third consecutive quarter. The broken-line graph below shows average % of contract price to the original price by each area (not including condominiums 45 years old or older).

In three areas, namely Azabu/Akasaka/Roppongi, Hiroo/Ebisu and Aoyama/Shibuya, average % of contract price to the original price declined. Overall, however, the ratio increased. Shirokane-takanawa/Azabu-juban in particular saw a remarkable 12.0% increase over the previous period.

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