The common value of a newly constructed condominium within the Tokyo metropolitan space in April was 74.12 million yen, down greater than 3 million yen from a 12 months in the past. However, it has risen by over 10 million yen in comparison with two years in the past, indicating it stays at a excessive stage.

According to the Real Estate Economic Institute, the common value of recent condominiums launched within the Tokyo metropolitan space in April was 74.12 million yen, marking the second consecutive month of decline from the earlier 12 months.

The decline is attributed to the response from the sale of ultra-high-priced properties within the 23 wards of Tokyo final 12 months. Nevertheless, costs are nonetheless greater than 10 million yen greater than two years in the past.

The common value in Tokyo’s 23 wards additionally fell by greater than 20% from final 12 months to 91.68 million yen, however it stays over 18 million yen greater than two years in the past.

Looking forward, the evaluation means that there aren’t any components that might result in an general market value lower, as a consequence of sturdy demand within the 23 wards and rising building prices.