Tokyo metro area new condo prices rose 5.1% in February, marking the 4th straight monthly increase due to tight supply.

Tokyo's broader metropolitan area new condo prices rose 5.1% in February, marking the fourth consecutive monthly increase due to tight supply. The average price in Tokyo, Kanagawa, Chiba, and Saitama prefectures reached 71.2 million yen. The number of new units for sale in the region fell 27.6% from a year ago to 1319. The Real Estate Economic Institute noted that high prices are driven by rising land and construction costs, limiting property availability for buyers.

March 24, 2024
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