New apartment prices in greater Tokyo up 16% from last year
According to the Real Estate Economic Institute, a total of 3,426 brand-new apartments were released for sale across greater Tokyo in July, up 50.0% from the previous month and up 3.3% from last year.
2,465 apartments were sold, resulting in a contract ratio of 71.9%, up 8.6 points from last year and above the 70.0% level said to indicate healthy market conditions. Unsold inventory at the end of July was 6,314 apartments, down 184 units from last year.
The average price of a new apartment across greater Tokyo was 65,620,000 Yen, up 16.3% from the previous month and up 16.0% from last year. The average sale price per square meter was 952,000 Yen, up 13.3% from the previous month and up 18.1% from last year.
705 apartments in high-rise buildings (20 storeys and above) were listed for sale, up 220.5% from last year. The contract ratio was 88.2%, up 34.1 points from last year.
The following buildings saw same-day sellouts* in July: