Newest condominiums sold in the Tokyo metropolitan area, the smallest number ever for the new corona effect May 20 14:46
The number of newly built condominiums released in the Tokyo metropolitan area last month was just half of the same month last year, 686, which was the lowest since the survey started in 1973. This is because the real estate company squeezed the sale while an emergency declaration was issued due to the spread of the new coronavirus infection.
According to the Real Estate Economic Research Institute, a private research company, the number of new condominiums released last month in Tokyo, Kanagawa, Saitama, and Chiba was 686 units, down 51.7% from the same month last year.
The number of units sold per month has decreased to the smallest since the survey started in 1973.
The reason for this was that a real estate company closed down its model room and squeezed sales while an emergency was announced due to the spread of the new coronavirus.
In addition, the average price per unit increased by 5.4% from the same month of last year to 62.16 million yen due to the high proportion of properties sold in the 23 wards of Tokyo, which were high in price.
By region, the average price in the 23 wards of Tokyo increased by 3.8% to 71.17 million yen, Saitama prefecture increased by 14.9% to 5.44 million yen, and Chiba prefecture increased by 4.8% to 4.363 million yen.
On the other hand, prices outside Tokyo's 23 wards dropped by 26.6% to 39.51 million yen, while those in Kanagawa prefecture fell by 3% to 47.78 million yen.
The Real Estate Economic Research Institute said, "The number of new homes is expected to decrease this month. We are paying close attention to how the spread of the new coronavirus infection will affect the sales of condominiums."