TOKYO –
Prices of used condominiums in Tokyo fell for the primary time in two years and 4 months in August, ending a 28-month streak of will increase, whereas neighboring Chiba and Kanagawa prefectures recorded their fourth consecutive month of positive factors.
According to actual property analysis firm Tokyo Kantei, the common asking value of a 70-square-meter used condominium in Tokyo declined 0.2% from the earlier month to 112.74 million yen in August.
The decline marked the primary month-to-month drop in Tokyo in 28 months, with costs within the capital’s 23 wards falling for the third consecutive month.
In distinction, costs in neighboring Chiba Prefecture rose 2.3% from July, whereas Kanagawa Prefecture recorded a 0.7% improve. Both prefectures noticed costs rise for the fourth consecutive month.
Tokyo Kantei mentioned the decline in central Tokyo displays a correction following a number of years of sharp value will increase pushed partly by funding demand.
The firm warned that neighboring prefectures might additionally face downward strain on housing demand from 2027 onward as rising rates of interest and different components probably weigh on the property market.
Source: FNN