Central Tokyo condo prices nearly double year-on-year, hitting record levels
The average price of a new condominium in central Tokyo jumped 96% from a year earlier to a record 265.20 million yen in July, according to a research institute.
A research institute reported that July saw the average price of a newly built condo in central Tokyo rise by 96% compared with the same month last year, reaching 265.20 million yen. In the broader metropolitan region, which includes the capital and three neighboring prefectures, the average hit a record 164.93 million yen, up 63.7%. Listings for new units across Tokyo, Chiba, Kanagawa and Saitama increased by 6.9% to 2,145 properties, with price changes varying by prefecture.
Why it matters
Sharp condo price gains signal tightening housing affordability and market overheating in Japan's capital region.
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