According to the Real Estate Economic Institute, 2,310 new apartments were released for sale across greater Tokyo in February, up 66.9% from the previous month and up 3.3% from last year. This is the second lowest number seen for the month of February since 2000. Although sales conditions are very strong in central Tokyo, the market for new apartments in suburban areas is slowing. Sales of high-rise apartments in the Tokyo bayside area, too, have been slowing.
1,579 apartments were sold, resulting in a contract ratio of 68.4%, up 6.8 points from the previous month but down 4.5 points from last year.
Unsold inventory as at the end of the month was 6,594 apartments, down 248 units from the end of January but up 475 units from 12 months ago.
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