brillia-tower-ueno-ikenohata
Brillia Tower Ueno Ikenohata

According to the Real Estate Economic Institute, 1,966 new apartments were released for sale in greater Tokyo in August, down 40.7% from the previous month and down 24.7% from last year. This is the 9th month in a row to see a year-on-year decline in supply.

1,310 apartments were sold, resulting in a contract ratio of 66.6%, up 3.3 points from the previous month but down 7.7 points from last year. 435 apartments in high-rise buildings (over 20-storeys) were released for sale, down 1.6% from last year. The contract ratio was 73.1%, down 12.2 points from last year.

The average price of a new apartment across greater Tokyo was 56,620,000 Yen, up 0.1% from the previous month but down 3.6% from last year. The average price per square meter was 798,000 Yen, down 1.0% from the previous month and down 3.2% from last year.

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