The supply of new condo-type apartments across greater Tokyo in the first half of 2019 has reached the lowest level seen since 1992. As land prices and construction costs continue to remain at high levels, developers have been putting the brakes on residential supply as buyers shift their attention away from expensive new construction. Last-minute demand prior to the increase in consumption tax from October did not materialize as anticipated.
New apartment prices, meanwhile, have reached the highest level since 1991.
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