According to the Real Estate Economic Institute, 2,741 brand new apartments were released for sale across greater Tokyo in April, down 19.6% from the previous month but up 38.6% from last year. This is the 3rd month in a row to see a year-on-year increase in supply.

1,817 apartments were sold, resulting in a contract ratio of 66.3%, up 0.1 points from the previous month but down 0.1 points from last year.

Unsold inventory as at the end of April was 6,649 apartments, down 100 units from the previous month but up 768 units from April 2016.

The average price of a new apartment across greater Tokyo was 59,180,000 Yen, up 5.9% from the previous month and up 2.9% from last year. The average price per square meter was 856,000 Yen, up 8.4% from the previous month and up 3.6% from last year.

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