Newly built condominiums in the Tokyo metropolitan area declined for the third consecutive month Prices also dropped Dec 17 at 18:55

Last month, the number of new condominiums released in the Tokyo metropolitan area dropped by 4.9% from the same month last year, decreasing for the third consecutive month, and the average price dropped for the first time in four months.

According to the private research company Real Estate Economics Research Institute, the number of newly built condominiums released in Tokyo, Kanagawa, Saitama and Chiba last month was 3293 units, a decrease of 4.9% from the same month last year. did.

The decline in the number of units sold is the third consecutive month, due to the fact that new properties are being held off in central Tokyo against the backdrop of rising consumer prices and increasing consumer confidence. .

The average price per unit last month was 54.69 million yen, down 9.1% from the same month last year, the first decline in 4 months.

Of this, Tokyo's 23 wards fell 10.2% to 68.68 million yen. Out of 23 wards fell by 0.3% to 54.12 million yen.

In addition, Kanagawa Prefecture rose 7.8% to 57.36 million yen.

Saitama Prefecture decreased 2.9% to 38.84 million yen.

Chiba Prefecture was down 2.5% to 43.45 million yen.

The research company believes that the overall average price has fallen due to the low sales of high-priced properties such as near stations in central Tokyo.

On the other hand, the research company says, “Condominium construction costs such as land prices are still high, and the prices of newly built condominiums will continue to remain high.”