New apartment prices in Greater Tokyo drop 20% in January
According to the Real Estate Economic Institute, 1,934 brand new apartments were released for sale across greater Tokyo in January, down 70.2% from the previous month but up 39.7% from January 2017.
The average sale price was 52,930,000 Yen, down 23.4% from last year. The average price per square meter was 787,000 Yen, down 19.3% from last year. In January 2017, new apartment prices saw a steep jump from the year before, with prices rising by 24.1%. If several high-end projects are released onto the market it can pull up average prices for the month.Read more