TOKYO, Aug 21 (XINHUA/APP): Prices for new condominiums in the greater Tokyo area jumped more than 50 percent in July from a year earlier, local media reported on Monday.
According to the Real Estate Economic Institute, the average price of new units on sale in Tokyo and the three neighboring prefectures was almost 100 million yen, or about 680,000 U.S. dollars, last month, up 56 percent year-on-year, marking the fifth straight month of increases, public broadcaster NHK reported.
The increase was mainly due to high-end condos sold on the market, including those in the former athletes’ village for the Tokyo Olympics, said the report.
Meanwhile, the average price in Tokyo’s 23 wards came to around 920,000 U.S. dollars, it said, adding that more new condos are expected to go on sale in Tokyo and prices will likely remain high due to a strong demand.
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