New condo releases in Tokyo area expected to increase in 2023

Economy

The number of new condominiums put on sale in the Tokyo metropolitan area for 2023 is expected to rise 3.9 percent from the previous year to 32,000 units, according to a recent report by a real estate research firm.

The forecasted rise, the first in two years, is speculated to be led by scheduled sales of large condominiums near train stations in Tokyo’s 23 wards, Real Estate Economic Institute said in late December.

It also said an increase in the number of high-end condos could push up the average price in Tokyo and three neighboring prefectures. The prices of new condominiums in suburban ar...

Kyodo News

Kyodo News