According to the Real Estate Economic Institute, 3,336 brand new apartments were released for sale in greater Tokyo in September, up 58.1% from the previous month but down 44.1% from last year. 2,388 apartments were sold, making the contract rate 71.6%. This is an increase of 2.0 points from the previous month but is a drop of 12.0 points from last year.
The average new apartment price was 47,640,000 Yen, down 16.2% from the previous month and down 5.6% from last year. The average price per square meter was 665,000 Yen, down 14.2% from the previous month and down 6.6% from last year.
411 apartments in high-rise buildings (over 20-storeys) were offered for sale, up 93.9% from the previous month but down 78.9% from last year. The contract rate was 78.3%, up 27.4 points from the previous month but down 11.6 points from last year.
Approximately 3,500 apartments are expected to be released for sale in October, which is similar to the 3,506 apartments released for sale in October 2013.
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