The average price of newly built condominiums sold nationwide last year rose 15.4% from the previous year, setting a record high for the seventh consecutive year, due to a series of high-priced properties being sold in central Tokyo.
According to the Real Estate Economic Research Institute, a private research company, the average price per unit of newly built condominiums sold nationwide last year was 59.11 million yen.
It rose 15.4% from the previous year, setting a new record high for the seventh consecutive year.
The research firm said construction costs have increased due to soaring material prices, and the average price per unit of new condominiums sold in Tokyo's 23 wards over the past year has exceeded 100 million yen for the first time. This is attributed to the successive sale of properties.
On the other hand, by region,
the average price in Tokyo and the three prefectures in the Tokyo metropolitan area was 81.01 million yen, an increase of 28.8% from the previous year, which was the highest ever, and in the
Kinki region, it was 46.66 million yen, an increase of 0.7%. This is the highest level in 32 years since 1991.
Among the major regional cities,
▽Nagoya City rose 14.5% from the previous year to 41.08 million yen,
▽Sapporo City rose 0.8% to 49.8 million yen,
▽Sendai City rose 0.7% to 46.29 million yen, and
▽Hiroshima City .
City fell by 8.5% to 40.76 million yen,
and Fukuoka City
fell by 5.5% to 39.96 million yen.
Regarding the outlook for this year's prices, the research company says, ``The trend of high prices is expected to continue because construction costs will continue to be high and demand for convenient properties is solid.''