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Drop in pre-owned condo prices in Tokyo

Andrew Batt Property Report
Drop in pre-owned condo prices in Tokyo - Tokyo - condominium - property market


Prices of pre-owned condominiums in greater Tokyo averaged 29.58 million yen (US$363,449) per 70 sqm in September, down 0.4 per cent on the month, an industry survey has revealed.



Prices actually rose in Kanagawa and Saitama prefectures. But they fell in Tokyo, the largest market in the region, and this pushed down the overall figure, according to Tokyo Kantei Co.

The average price in Tokyo edged down 0.2 per cent to 39.41 million yen. The six central wards – Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya – also recorded a 0.1 per cent decline to 55.9 million yen.

Saitama Prefecture posted a 1.9 per cent gain to 18.53 million yen. Driving this increase was a 3.6 per cent jump to 21.77 million yen in the city of Saitama, where condos on the market were newer in general.


Source



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