TOKYO -- The number of newly built condominiums in the Tokyo metropolitan area sank 17% in fiscal 2024 compared to the previous year, with smaller property developers struggling to secure profits amid rising construction costs and difficulty acquiring land.
Property
New condo supply in Tokyo metro area drops to record low
Rising costs leave small developers struggling to build financially viable properties
.JPG?width=780&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto)
The average price of a condo in the Tokyo area went up 8% last fiscal year. (Photo by Tomoki Mera)
Read Next
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
Latest on Property
