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Tokyo area new condo supply down 29.7% in April

Friday 16th May, 05:10 AM JST

TOKYO —

The number of new condominiums put up for sale in the greater Tokyo area in April fell 29.7% from a year before to 2,875 units, a private think tank said Thursday. Compared with March, the figures declined 36.0 pct, the Real Estate Economic Institute said.

Sales contracts were concluded for 1,813 units, or 63.1% of the total supply, down 11.2% year on year. The average unit price stood at 53.44 million yen, up 14.9% from a year before.

The number of condominiums that remained unsold at the end of April came to 10,544 units, down 293 units from a month before.

The condominium supply data covers Tokyo and the neighboring prefectures of Saitama, Kanagawa and Chiba.

JCN

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