New apartment prices in Sendai City fall 5% in the first half of 2017.
According to DG Communications, the average price of a new apartment in Sendai City in the first half of 2017 was 42,940,000 Yen, down 4.8% from last year. The average price for the year of 2017 is also expected to decrease from last year, marking the first decline since 2011.
Following the 2011 earthquake, a sudden jump the construction costs and a drop in supply saw the price of new apartments soar to record highs. In 2016, the average price increased by 5.1% from 2015 to 44,427,000 Yen — the highest price seen since record-keeping began in 1988.