TOKYO, Aug. 21 (Xinhua) — Prices for brand new condominiums within the better Tokyo space jumped greater than 50 p.c in July from a yr earlier, native media reported on Monday.
According to the Real Estate Economic Institute, the common worth of latest items on sale in Tokyo and the three neighboring prefectures was nearly 100 million yen, or about 680,000 U.S. {dollars}, final month, up 56 p.c year-on-year, marking the fifth straight month of will increase, public broadcaster NHK reported.
The enhance was primarily as a result of high-end condos bought in the marketplace, together with these within the former athletes’ village for the Tokyo Olympics, stated the report.
Meanwhile, the common worth in Tokyo’s 23 wards got here to round 920,000 U.S. {dollars}, it stated, including that extra new condos are anticipated to go on sale in Tokyo and costs will seemingly stay excessive as a result of a robust demand.