Tokyo condos smaller, pricier and harder to find as supply growth slows

2024 saw record-low amount of new units come on market

20250123N Tokyo condo

Units at the Mita Garden Hills development in central Tokyo are hot on the resale market. (Photo by Naoyuki Toyama)

NAOYUKI TOYAMA and MINAMO ITO

TOKYO -- New condominiums coming on the market in the Tokyo region increased by the smallest volume on record last year, according to industry data, contributing to a run-up in prices.

New units declined 14% from the previous year to 23,003, the Real Estate Economic Institute said Thursday.

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