The price of new apartments in Tokyo toppled a 30-year-old record in 2021 as rising demand from dual-income households and increasing construction costs boosted the capital’s once-moribund housing market.
The mean price of new condos in the Japanese capital and surrounding areas hit ¥62.6 million ($550,000) last year, topping the ¥61.2 million high watermark set in 1990 at the peak of the economic bubble, according to figures released Tuesday by the Real Estate Economic Institute. Some market watchers expect the surge to continue this year.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.