According to the Real Estate Economic Institute, 2,701 new apartments were offered for sale across greater Tokyo in November, down 7.0% from the previous month and down 22.7% from 2015. This is the lowest level seen for the month of November since 1975. The leading cause of the drop in supply was that there were very few large-scale, 100-unit-plus apartment buildings offered for sale.
1,689 apartments were sold, resulting in a contract ratio of 62.5%, up 0.9 points from the previous month but down 19.6 points from last year.
195 apartments in high-rise buildings (over 20-storeys) were released for sale, up 27.5% from the previous month but down 83.1% from last year. The contract ratio was 65.1%, down 27.2 points from last year.
The average price of a new apartment across greater Tokyo was 51,610,000 Yen, down 4.5% from the previous month and down 18.4% from last year. The average price per square meter was 749,000 Yen, down 5.5% from the previous month and down 14.0% from last year.
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