TOKYO -- New condominiums put on the market in the greater Tokyo area plunged 50% on the year in August to a record low, data released Thursday shows, as builders struggle to compete for land with hotel developers.
Property
New Tokyo condo listings plunge 50% as hotel developers snap up land
Residential projects held back by lack of new sites and rising costs
Fewer residential buildings are being developed in Tokyo, with suitable sites in short supply. © Reuters
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