Central Tokyo average condo price up 96% to record high in July
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5 Articles
Central Tokyo average condo price up 96% to record high in July
The average price of new condominiums in central Tokyo in July rose 96 percent from a year earlier to 265.20 million yen ($1.7 million), a monthly record, amid high construction costs, a research institute said Thursday.
The Real Estate Economic Institute announced on the 20th that the average price of new condominiums in the Tokyo metropolitan area in July reached a record high of 164.93 million yen. The launch of large-scale tower condominiums in central Tokyo boosted prices. The Tokyo metropolitan area (1 prefecture and 3 surrounding prefectures)…
The Tokyo housing market continues to heat up, with the average price of new apartments in the city center rising 96% in July to $1.7 million.
According to data released on the 20th by the Real Estate Economic Institute, the average price per new condominium unit in Tokyo's 23 wards in July was 265.2 million yen, a 96.0% increase compared to the same month last year. This marks a new record high for a single month. In addition to high construction costs, demand is not keeping pace with the price surge, resulting in fewer units being put on the market…
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