Apartment supply soars in Tokyo
July 17, 2010As of June, 5,130 new apartments were put up for sale in Japanese capital, which exceeds the levels of last June by 66.6%.
Annual growth in this indicator is observed throughout the last five months, The Japan Times reports, citing data provided by the Real Estate Economic Institute.
The majority of new apartments (83.9%) were listed in Tokyo’s suburbs - Kanagawa, Saitama and Chiba.
Average apartment prices in the Japanese capital have climbed up by 3.3%, compared with last June, up to 46.9 million yen ($541,000).
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