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Condo supply in Tokyo area plunges 8.1 pct in January

Xinhua, February 16, 2015 Adjust font size:

The number of condominium units for sale in the Tokyo region in January plunged an annualized 8.1 percent, local media reported Monday.

A total of 1,679 new units were supplied in Tokyo and the three surrounding prefectures of Chiba, Kanagawa and Saitama, according to the Real Estate Economic Institute.

The number posted a year-on-year decline after increasing in December for the first rise in 11 months.

According to the institute, 74.9 percent of the new condos listed in the reporting period found buyers. Meanwhile, the average unit price was down 3.9 percent from a year before to 44. 55 million yen (about 376,000 dollars). Endi