Thursday, March 14, 2013
Feb Condo Offerings Fall 10.9% In Tokyo, Rise 51.8% In Osaka
TOKYO (NQN)--The number of new condominiums put on the market in the Tokyo metropolitan area in February fell 10.9% on the year to 3,491 units, marking the sixth straight month of decline, Real Estate Economic Institute Co. reported Thursday.
Purchase contracts were signed for 2,667 units, or 76.4%, up 1.1 percentage points from January. The real estate research firm expects about 3,500 units will go on the market in March.
New condo releases in the Kinki region, which includes Osaka, rose 51.8% to 2,116 units.