Central Tokyo condo price tops 100 mil. yen for 1st time

Economy Society

The average price of new condominiums released last year in central Tokyo topped 100 million yen ($677,000) for the first time, driven by luxury properties and soaring construction material prices, real estate research firm data showed. The price shot up 39.4 percent from the previous year to 114.83 million yen per unit in the capital's 23 wards, the Real Estate Economic Institute said Thursday. The average price of new condos in the capital and the three surrounding prefectures of Chiba, Kanagawa and Saitama also climbed sharply, rising 28.8 percent to 81.01 million yen for the fifth straight...

Kyodo News

Kyodo News Society