Sales of new condominiums in the Tokyo metropolitan area increased more than 50% in February compared to the same month last year.

The number of new condominiums sold in the Tokyo metropolitan area in February was more than 50% higher than the same month last year, the third consecutive month of increase.

The number of new condominium units launched in the Tokyo metropolitan area in February was more than 50% higher than the same month last year, and the supply of new condominiums continues to be aggressive, as the spread of telework due to the spread of the new coronavirus is increasing demand for housing.

According to the Real Estate Economic Institute, a private research firm, the number of new condominiums launched in February in Tokyo, Kanagawa, Saitama, and Chiba prefectures was 2,243, 50.7% higher than the same month last year. This is the third consecutive month of increase.

In particular, the 23 wards of Tokyo and Kanagawa Prefecture accounted for 1050 and 777 units respectively, which together accounted for more than 80% of the total.

The contract rate, which indicates how many units were actually sold, was 76%, up 16.7 points from the same month last year.

On the other hand, the average price per unit was 63.8 million yen, down 2.4% from the same month last year.

The Real Estate Economic Institute said, "As consumers are spending more time at home, they are actively seeking housing, and the supply continues to be aggressive.

Source: https://www3.nhk.or.jp/news/html/20210318/k10012921531000.html