According to the Real Estate Economic Institute, the supply of new apartments offered for sale in greater Tokyo in March 2013 was 5,318 units - 48.4% higher than March 2012. Developers have been pushing forward their sales dates in order to capitalise on an expected last-minute rush before the first consumption tax increase hits consumers in 2014.
The total supply of new apartments in 2013 is expected to exceed 50,000 units for the first time since 2007. In 2012, the supply was down 3.5% from the previous year to 46,754 apartments and the contract rate was 76.7%. The contract rate for March 2013 was 82.1%.
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