TOKYO, Sep 20 (News On Japan) –
The common value of a newly constructed condominium in Tokyo’s 23 wards has exceeded 100 million yen for the fourth consecutive month.
According to the Real Estate Economic Institute, the common value of recent condominiums offered in Tokyo’s 23 wards in August was 139.48 million yen per unit.
This marks the fourth straight month of costs surpassing 100 million yen, and additionally it is the very best degree for August on document.
Due to labor shortages, the timing of development begins and completions has been delayed, inflicting the variety of models equipped to fall by about 60% (59.8%) in comparison with final yr. Meanwhile, high-end properties in areas similar to Chuo and Minato wards have pushed costs up by over 60% (62.2%).
In addition, the common value within the better Tokyo metropolitan space additionally rose by greater than 30% in comparison with final yr, reaching 95.32 million yen.
The Real Estate Economic Institute analyzed that, “While the supply remains low, high-priced units are selling consistently, driving prices upward.”
Source: ANN