According to the Real Estate Economic Institute, 3,408 new apartments were released for sale across greater Tokyo in March, up 47.5% from the previous month and up 26.6% from last year.

2,255 apartments were sold, resulting in a contract ratio of 66.2%, down 2.2 points from the previous month and down 1.4 points from last year. 187 apartments in high-rise buildings (over 20 stories) were released for sale, down 41.0% from last year. The contract ratio was 62.6%, down 1.8 points from last year.

Unsold inventory as at the end of March was 6,749 apartments, up 155 units from the previous month and up 710 units from March 2016.

The average price of a new apartment across greater Tokyo was 55,880,000 Yen, down 3.5% from the previous month and down 0.9% from last year. The average price per square meter was 790,000 Yen, down 7.3% from the previous month and down 1.5% from last year.

The average size of a new apartment sold during March was 70.75 sqm (761 sq ft).

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