- Average new apartment price down 3.7% in Tokyo
- No. of high-rise apartments fall 69.5%
- Office vacancy rates down in both Tokyo and Osaka
NEW APARTMENT SUPPLY DOWN:
Brand new apartments listed for sale in the Tokyo area in July fell 1.3% compared to a year earlier to 4073 units. This is the second month of decline. This is due in part to apartment showrooms opening for shorter hours to conserve power, less activity by developers and a general constraint in supply as material shortages and restrained buying cause developers to delay sales activity.
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