On December 20 the Real Estate Economic Institute released their forecast for the new condominium market in greater Tokyo in 2019. A total of 37,000 new apartments are expected to be released for sale, up 0.8% from 2018, while the consumption tax rate increase is anticipated to have only a limited impact.
The supply in Tokyo’s 23 wards is expected to remain the same with 16,000 new apartments to hit the market, while western Tokyo, Kanagawa and Saitama Prefectures are expected to see an increase in supply.
Several large-scale projects will kick off their sales campaigns in the next few months, and this trend is expected to continue from April onwards.
Apartment prices in central Tokyo are forecast to remain at high levels, while the popularity of high-rise buildings should remain strong.
Source: The Real Estate Economic Institute, December 20, 2018.