Tokyo-Area New Condo Supply Up for 1st Time in 11 Months

Tokyo, Aug. 20 (Jiji Press)--The number of new condominiums put up for sale in the Tokyo metropolitan area in July increased 7.8 pct from a year earlier to 2,083 units, up for the first time in 11 months, Real Estate Economic Institute Co. said Thursday.

The rebound was “not strong after a plunge in spring” in the wake of the coronavirus outbreak, an official of the research firm said.

The firm forecast that new condominium supply will fall back in August, considering continued restraint in sales activities.

In July, the average price of newly supplied condominiums rose 7.9 pct to 61.24 million yen.

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