New apartment prices in Tokyo increase for 7th month
According to the Real Estate Economic Institute, 2,817 brand new apartments were released for sale across greater Tokyo in October, down 5.4% from the previous month and down 3.0% from last year.
The average sale price was 55,860,000 Yen, down 4.1% from the previous month but up 3.3% from last year. The average price per square meter was 811,000 Yen, down 4.1% from the previous month but up 2.3% from last year. This is the 7th month in a row to record a year-on-year increase.
The contract ratio across greater Tokyo was 60.7%, down 0.9 points from last year.