Business | Jan 25

Tokyo's Real Estate Milestone: New Condos Surpass 100 Million Yen Average

TOKYO, Jan 25 (News On Japan) - According to a summary by a real estate research firm, the average price of new condominiums launched in Tokyo's 23 wards last year exceeded 100 million yen for the first time, reaching almost 115 million yen ($779,000).

The research firm attributes this to the rise in construction costs due to the soaring prices of materials, as well as the succession of condominium developments in the convenient city center.

Source: NHK

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