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The average unit price of new condominiums put up for sale in the greater Tokyo area in the fiscal year through March rewrote the record high for the first time in 31 years, reflecting surging land and construction materials prices, a private think tank report showed Monday.

The average condominium price in Tokyo and neighboring Kanagawa, Saitama and Chiba prefectures rose 6.1% from the previous year to ¥63.6 million, surpassing the previous record of ¥62.14 million, set in fiscal 1990, according to Real Estate Economic Institute Co.

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