Central Tokyo average condo price up 96% to record high in July

TOKYO - The average price of new condominiums in central Tokyo in July rose 96 percent from a year earlier to 265.20 million yen ($1.7 million), a monthly record, amid high construction costs, a research institute said Thursday.

It is only the second time the average price of new condominiums in Tokyo's 23 wards has exceeded 200 million yen, after reaching 217.5 million yen in March 2023, according to the Real Estate Economic Institute.