New apartment supply in greater Tokyo down 14% in October
The total number of new apartments released for sale in greater Tokyo (Tokyo, Kanagawa, Chiba and Saitama) in October fell 14.4% from the year before to 2,887 units. This is the second month of decline after September's fall of 9.3%.
The most notable decline was in Tokyo's 23 wards, which saw a drop of 25.7%. According to local real estate agents, concerns over future economic conditions have possibly led to a drop in the number of high-priced apartments released for sale.Read more