New apartment supply in Tokyo drops 40% and hits 27-yr low
The total supply of new apartments released for sale across greater Tokyo in April saw a year-on-year drop of 39.3% to just 1,421 apartments. This is the lowest supply seen for the month of April since 1992. The reason for the low supply is due to both developers putting their efforts towards selling current inventory, along with an expectation of low buyer turnout during the 10-day Golden Week holiday.