Tokyo-Area New Condo Average Price at 59 M. Yen in FY 2018

Economy

Tokyo, April 17 (Jiji Press)--The average unit price of new condominiums put up for sale in Tokyo and three neighboring prefectures in fiscal 2018 rose 0.1 pct from the previous year to 59.26 million yen, the Real Estate Economic Institute said Wednesday.

The average price was the second highest on record, after fiscal 1990's price of 62.14 million yen.

The high average is "close to the limit," an official of the institute said.

In the year to March, the unit price per square meter rose for the seventh year in a row, climbing 1.3 pct to 875,000 yen.

The average price rose more than 4 pct in Tokyo and Saitama Prefecture, while falling in the other two prefectures, Kanagawa and Chiba.

[Copyright The Jiji Press, Ltd.]

Jiji Press