According to the Real Estate Economic Institute, 2,659 new apartments were released for sale across greater Tokyo in June, up 8.0% from the previous month and up 16.4% from last year. The average sale price was 62,440,000 Yen, up 3.5% from the previous month and up 10.7% from last year. The average price per square meter was 928,000 Yen, 3.7% from the previous month and up 10.5% from last year.

The contract ratio was 66.0%, down 1.2 points from last year. In Tokyo’s 23 wards, the contract ratio was 74.5%, above the 70% level that indicates healthy market conditions.

Tokyo Metropolitan Area

1,429 new apartments were released for sale in the Tokyo metropolitan area, up 16.6% from the previous month and up 28.0% from last year. The average sale price was 75,660,000 Yen, up 5.5% from the previous month and up 12.8% from last year.

The average price per square meter was 1,187,000 Yen, up 6.3% from the previous month and up 11.4% from last year.

142 of the apartments sold were priced at over 100 million Yen and accounted for 13% of transactions. The contract ratio for apartments in this price range was 80.2%.

For more information about Tokyo's new apartment prices, phone or email Zoe Ward of Japan Property Central via the contact details listed below. 

Source: The Real Estate Economic Institute, July 17, 2018.

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