Contract ratio on new apartments in greater Tokyo reaches lowest level in 27 years

According to the Real Estate Economic Institute’s report on the new apartment market for 2018, a total of 37,132 brand new apartments were released for sale across the greater Tokyo area (Tokyo, Kanagawa, Saitama and Chiba Prefectures), up 3.4% from 2017. The average price of a new apartment was 58,710,000 Yen, down 0.6% from the previous year. In Tokyo’s 23 wards the average price was 71,420,000 Yen, up 0.7% from 2017.