Tokyo, Oct. 21 (Jiji Press)–The average unit price of new condominiums put up for sale in Tokyo’s densely populated 23 special wards in April-September hit a record high of 133.09 million yen, Real Estate Economic Institute Co. said Tuesday. The figure in the first half of fiscal 2025 was up 20.4 pct from the year-before level of 110.51 million yen as land, construction and labor costs continued to rise. In the Tokyo metropolitan area, comprising the whole of Tokyo and neighboring Kanagawa, Saitama and Chiba prefectures, the average condominium price surged 19.3 pct to 94.89 million yen, also a record high. The increase in Tokyo’s 23 wards has spread to the entire metropolitan area, and high condominium prices may influence purchase decisions among middle-income earners. END [Copyright The Jiji Press, Ltd.]
Central Tokyo Condo Prices Hit Record High in April-Sept.
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