Average Price of a New Condominium Unit in Tokyo’s 23 Wards Exceeds 100 Million JPY

The average price per unit of a new condominium in Tokyo’s 23 wards exceeded 100 million JPY (approximately 650K USD) for the sixth consecutive month.

The average price per unit in Tokyo’s 23 wards rose 48.6% year-on-year to 129.4 million JPY in October, the Real Estate Economic Institute announced on November 20.

The number of units sold in Tokyo’s 23 wards in October was 816, a significant 70.4% increase over the previous year.

High-priced tower condominiums sold in the bay area of Chuo-ku and the Nakano area are believed to have pushed up prices.

The average price of newly built condominiums for sale in the Tokyo metropolitan area (Tokyo and its three neighbouring prefectures) rose 40.7% from the previous year to 92.39 million yen.

(source) https://news.yahoo.co.jp/articles/fae742f2bfb6291a90c35723455459dd953f1709