TOKYO, Oct 22 (News On Japan) –
The common worth of recent condominiums bought in Tokyo’s 23 wards surpassed 100 million yen for the second consecutive 12 months within the first half of this fiscal 12 months, reaching an all-time excessive.
According to the Real Estate Economic Institute, the typical worth of the three,242 newly constructed condominiums bought in Tokyo’s 23 wards from April to September this 12 months was 110.51 million yen.
This marks the second time that the typical worth within the first half of a fiscal 12 months has exceeded 100 million yen for the reason that begin of the survey in 1973, following final 12 months’s document of 105.72 million yen.
The common worth within the 4 prefectures of Tokyo, Kanagawa, Saitama, and Chiba was additionally at a document excessive of 79.53 million yen, surpassing final 12 months’s 78.36 million yen for the second consecutive 12 months.
The Real Estate Economic Institute analyzed the scenario, stating that “Rising construction costs and a concentration of supply in prime locations have driven up prices.”
Source: ANN