New apartment prices in Tokyo up 26%
According to the Real Estate Economic Institute, 2,651 new apartments were released for sale across greater Tokyo in February, down 24.1% from last year but up 45.2% from the previous month. Record snowfall across Tokyo in February caused some developers to postpone sales until March, which caused the drop in numbers.
Demand still remains strong with a contract rate of 80.6%, up 4.2 points from last year and up 2.0 points from January. Read more