Tokyo, March 18 (Jiji Press)–The average unit price of new condominiums in Chiba Prefecture, east of Tokyo, came to 130.01 million yen in February, topping 100 million yen for the first time, a think tank report showed Wednesday. In Tokyo and the neighboring prefectures of Chiba, Kanagawa and Saitama, the average condo price jumped 38.8 pct from a year before to 110.25 million yen, exceeding 100 million yen for the first time in six months and marking the second highest level on record, according to Real Estate Economic Institute Co. A high-rise property put up for sale in the Chiba city of Funabashi, with an average unit price of about 160 million yen, pushed up the average prices. “Funabashi is gaining popularity as condo prices in Tokyo’s 23 wards are rising and homebuyers are increasingly looking to nearby areas,” said a Real Estate Economic Institute official. In the densely populated Tokyo wards, the average price rose 37.4 pct to 142.8 million yen. New condominium prices remain high amid rising construction costs. END [Copyright The Jiji Press, Ltd.]
Average Condo Price in Chiba Tops 100 M. Yen for 1st Time
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