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▼ Central Tokyo Average Condo Price Rises 38.9% In April
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The average price of a new condominium in central Tokyo in April rose 38.9 percent from a year earlier to 124.98 million yen, reflecting a rebound from the previous year's drop and rising construction costs, a research institute said.
The price in the greater metropolitan area covering the capital and its three surrounding prefectures in the reporting month slipped below 100 million yen for the first time in three months, according to the Real Estate Economic Institute.
Still, the price in the capital and Chiba, Kanagawa and Saitama prefectures, at 87.36 million yen, was up 24.8 percent from a year earlier, the institute said.
The number of new condos listed for sale in Tokyo and the neighboring prefectures climbed 15.6 percent to 1,163 units, with neighboring Kanagawa Prefecture seeing a 60.4 percent surge to 441 units.
In western Tokyo, outside the capital's 23 wards, the average price for new condominiums was 75.43 million yen, up 4.4 percent, while the price edged down 0.8 percent to 60.16 million yen in Chiba Prefecture.
The price rose 6.7 percent to 71.74 million yen in Kanagawa Prefecture and 30.9 percent to 70.14 million yen in Saitama Prefecture.
Buyers "are taking more time to consider purchases," an official said, noting contract rates remain weak across almost all the greater metropolitan area.
Consumers are continuing to tighten their purse strings due to reasons such as rising interest rates, which increase housing loans, he added.
The price in the greater metropolitan area covering the capital and its three surrounding prefectures in the reporting month slipped below 100 million yen for the first time in three months, according to the Real Estate Economic Institute.
Still, the price in the capital and Chiba, Kanagawa and Saitama prefectures, at 87.36 million yen, was up 24.8 percent from a year earlier, the institute said.
The number of new condos listed for sale in Tokyo and the neighboring prefectures climbed 15.6 percent to 1,163 units, with neighboring Kanagawa Prefecture seeing a 60.4 percent surge to 441 units.
In western Tokyo, outside the capital's 23 wards, the average price for new condominiums was 75.43 million yen, up 4.4 percent, while the price edged down 0.8 percent to 60.16 million yen in Chiba Prefecture.
The price rose 6.7 percent to 71.74 million yen in Kanagawa Prefecture and 30.9 percent to 70.14 million yen in Saitama Prefecture.
Buyers "are taking more time to consider purchases," an official said, noting contract rates remain weak across almost all the greater metropolitan area.
Consumers are continuing to tighten their purse strings due to reasons such as rising interest rates, which increase housing loans, he added.
- 21:02
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