{"id":25599,"date":"2021-10-28T06:20:09","date_gmt":"2021-10-27T23:20:09","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25599"},"modified":"2021-10-28T12:00:33","modified_gmt":"2021-10-28T05:00:33","slug":"japans-apartment-supply-rises-by-44-7-the-highest-since-h1-2018","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/japans-apartment-supply-rises-by-44-7-the-highest-since-h1-2018\/","title":{"rendered":"Japan’s apartment supply rises by 44.7%, highest since H1 2018"},"content":{"rendered":"

New apartment price across greater Tokyo reaches a historic high from April to September <\/span>\u00a0<\/span><\/p>\n

\"\"
From last year,\u00a0apartment\u00a0supply rose by 44.7 percent to 12,809 units, which is the highest supply figure seen since the first half of 2018. MasaPhoto\/Shutterstock<\/figcaption><\/figure>\n

As reported in Japan Property Central<\/a>, the average price of a\u00a0brand-new\u00a0apartment for sale in greater Tokyo\u00a0during H1 2021 (April to September) hit the highest level in history.\u00a0<\/span>\u00a0<\/span><\/p>\n

The average price was JPY67,020,000 (USD587,346), a 10.1 percent increase from the first half of 2020 and the highest price seen since\u00a0the Real Estate Economic Institute\u00a0began\u00a0reporting\u00a0in 1973, it said.\u00a0<\/span>\u00a0<\/span><\/p>\n

The institute attributed this rise to the popularity of high-priced apartments in central Tokyo.\u00a0<\/span>\u00a0<\/span><\/p>\n

The previous record was last seen in H1 1991 when the average price was recorded at JPY61,370,000 (USD537,769).<\/span>\u00a0<\/span><\/p>\n

From last year,\u00a0apartment\u00a0supply rose by 44.7 percent to 12,809 units, which is the highest supply figure seen since the first half of 2018.\u00a0<\/span>\u00a0<\/span><\/p>\n

Additionally, Tokyo\u2019s 23 wards saw supply jump by 587.9 percent from the first half of 2020.\u00a0<\/span>\u00a0<\/span><\/p>\n

The contract ratio across greater Tokyo was 70.6 percent, while Tokyo\u2019s 23 wards were at 70.4 percent. 70 percent is said to be the line indicating healthy market conditions. <\/span>\u00a0<\/span><\/p>\n

Moreover, in the 23 wards, the average price of a brand-new apartment increased by 17 percent from the first half of 2020 to JPY86,860,000 (USD761,228).\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Japan\u2019s condo market sees demand uptick, both new and second-hand sales<\/strong><\/a><\/p>\n

The average price per square\u00a0metre\u00a0was\u00a0JPY1,366,000\u00a0(USD11,972),\u00a0a\u00a012.1\u00a0percent jump\u00a0from last year, which is\u00a0the biggest increase in prices across the five sectors of greater Tokyo.<\/span>\u00a0<\/span><\/p>\n

The remaining inventory across greater Tokyo decreased by 12.9 percent from last year, while in the 23 wards, inventory dropped 21.1 percent.<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New apartment price across greater Tokyo reaches a historic high from April to September \u00a0<\/p>\n","protected":false},"author":12,"featured_media":25600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2018,146,512,144],"class_list":["post-25599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-apartment-prices","tag-japan","tag-residential","tag-tokyo","news_country-japan","news_author-property-report"],"acf":[],"yoast_head":"\nJapan's apartment supply rises by 44.7%, highest since H1 2018 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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