Tokyo and Osaka see world's sharpest rise in condo prices

Weak yen pulls Asian money into relatively cheap Japan market

20240530N Mori JP

Foreign investors are snapping up properties in areas like Tokyo's Minato Ward. © Reuters

HIROKI MASUDA, SAKURAKO YOSHIOKA and NAOYUKI TOYAMA, Nikkei staff writers

TOKYO -- Prices for new condominium units in Tokyo and Osaka have risen by the most among 15 major global cities, according to a semiannual report, as a weak yen attracts international investors.

Prices in the two cities climbed 1.5% each in the half-year to April, data released Thursday by the Japan Real Estate Institute (JREI) shows, outpacing markets such as Singapore, which grew 1.3%, and New York at 0.3%.

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