According to the Real Estate Economic Institute, 2,310 new apartments were released for sale across greater Tokyo in February, up 66.9% from the previous month and up 3.3% from last year. This is the second lowest number seen for the month of February since 2000. Although sales conditions are very strong in central Tokyo, the market for new apartments in suburban areas is slowing. Sales of high-rise apartments in the Tokyo bayside area, too, have been slowing.
1,579 apartments were sold, resulting in a contract ratio of 68.4%, up 6.8 points from the previous month but down 4.5 points from last year.
Unsold inventory as at the end of the month was 6,594 apartments, down 248 units from the end of January but up 475 units from 12 months ago.
This content is available to paid subscribers only.
Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,200 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.
To join our paid subscription service and access over 3,200 news articles on Japan's real estate market, please register here.
Already a paid member? Log-in using your details below.