TOKYO, Nov 20 (Information On Japan) –
The common value for a newly constructed condominium in Tokyo’s 23 wards has remained above 100 million yen for six consecutive months.
In accordance with the Actual Property Financial Analysis Institute, 816 new condominiums had been offered in Tokyo’s 23 wards in October, with greater than half—474 models—priced over 100 million yen.
The common value per unit reached 129.4 million yen, marking the sixth consecutive month of exceeding 100 million yen.
Excessive-end tower condominiums in areas such because the bayside district of Chuo Ward and the Nakano space have pushed costs greater, with a rise of practically 50% in comparison with final 12 months.
Throughout the better Tokyo metropolitan space, costs rose by over 40% year-on-year, with the common reaching 92.39 million yen.
The Actual Property Financial Analysis Institute analyzed the scenario, stating, “Whereas provide could get well subsequent 12 months, the continued improve in development prices and the development of selective location decisions are more likely to maintain excessive costs transferring ahead.”
Supply: ANN
