Metropolitan area apartments released July low level for the first time in 43 years August 19 16:28
The number of newly built condominiums released in the Tokyo metropolitan area last month was the lowest in 43 years since 1976.
According to a private research company, Real Estate Economics Research Institute, the number of newly built condominiums released last month in Tokyo, Kanagawa, Saitama and Chiba was 1932, a significant increase of 35.3% compared to the same month last year. It was a significant decrease.
The number of new condominiums sold has been below the previous year for the seventh consecutive month, the lowest level in July since 1976 for the first time in 43 years.
The price of new condominiums in the Tokyo metropolitan area continued to remain high due to rising labor costs at construction sites, but the average price per unit last month was 56.76 million yen, down 8.3% from the same month last year .
According to the research company, the number of condominiums sold has declined significantly. “The consumer's willingness to purchase has slowed down. This seems to have caused the decline in the number of units sold. The number of units sold is likely to recover. "