New apartment supply drops 35.8% in March

According to the Real Estate Economic Institute, 2,142 brand-new apartments were released for sale across greater Tokyo in March, down 35.8% from last year. This is the lowest level seen for the month of March since 1992.

A total of 1,500 apartments sold within the first month of sales, resulting in a contract ratio of 70.0% – a 2.2 point decrease from last year. 

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New apartment supply in February hits 45-year low

The number of brand-new apartments released for sale across greater Tokyo reached the lowest level seen for the month of February since 1975. 

According to the Real Estate Economic Institute, February’s figures were not the direct result of the recent worldwide outbreak of the novel coronavirus. However, should economic conditions and consumer outlook worsen as a result of the unprecedented global slowdown, it is likely that Japan’s developers will continue to limit the supply of new apartments in the coming months.

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New apartment supply in 2019 reaches lowest level in 27 years

The Court Jingu-Gaien was home to the expensive apartment in Tokyo in 2019.

In 2019 a total of 31,238 brand-new apartments were released for sale across greater Tokyo, down 15.9% from 2018 and the first time in three years to see an annual drop. Supply has dropped to a third of the level seen in 2000.

Tokyo’s 23 wards saw a 13.9% drop, while Kanagawa saw supply fall by 12.5%. 

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