According to the Real Estate Economic Institute, 2,490 brand new apartments were released for sale across greater Tokyo in February, up 28.7% from the previous month and up 7.8% from last year. The average sale price was 61,280,000 Yen, up 5.8% from last year. The average price per square meter was 889,000 Yen, up 4.3% from last year.

The contract ratio was 65.0%, down 3.4 points from last year and down 0.2 points from the previous month.

TOKYO METROPOLITAN AREA

1,104 new apartments were offered for sale in the Tokyo metropolitan area, up 15.7% from the previous month but down 3.0% from last year. The average sale price was 72,230,000 Yen, up 3.8% from last year. The average price per square meter was 1,115,000 Yen, up 4.6% from last year.

The contract ratio was 69.8%, up 3.5 points from last year. In Saitama Prefecture, the ratio was 51.3%.

Source: The Real Estate Economic Institute, March 15, 2018.

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