TOKYO, Sep 20 (Information On Japan) –
The typical value of a newly constructed condominium in Tokyo’s 23 wards has exceeded 100 million yen for the fourth consecutive month.
In keeping with the Actual Property Financial Institute, the common value of recent condominiums bought in Tokyo’s 23 wards in August was 139.48 million yen per unit.
This marks the fourth straight month of costs surpassing 100 million yen, and it’s also the very best stage for August on report.
Resulting from labor shortages, the timing of development begins and completions has been delayed, inflicting the variety of items provided to fall by about 60% (59.8%) in comparison with final 12 months. In the meantime, high-end properties in areas similar to Chuo and Minato wards have pushed costs up by over 60% (62.2%).
As well as, the common value within the higher Tokyo metropolitan space additionally rose by greater than 30% in comparison with final 12 months, reaching 95.32 million yen.
The Actual Property Financial Institute analyzed that, “Whereas the availability stays low, high-priced items are promoting constantly, driving costs upward.”
Supply: ANN
