Condo Supply in Tokyo Drops 44% in September

October 17, 2014 Share Print 0

The number of condominium units listed for sale in the Tokyo region fell for the eighth straight month in September, tumbling 44.1 percent from a year earlier, a research institute said Thursday.

A total of 3,336 new condominiums were supplied in Tokyo and the three surroundings prefectures of Chiba, Kanagawa and Saitama, the Real Estate Economic Institute said.

In the April to September first half of fiscal 2014, the number of new condominiums put up for sale decreased 32.1 percent from a year earlier to 19,944 units.

Of the new condos listed in the reporting month, 71.6 percent found buyers, the institute said.

An official at the institute said, “Compared with the solid buyer-finding rate in the Tokyo metropolitan area, that in the outskirts showed poor sales figures.”

The average unit price fell 5.6 percent to 47.64 million yen, marking the first decrease in three months.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.