Against the backdrop of rising prices in Japan, consumers are less willing to buy homes. Looking at the average expected sale price of small new single-family homes in October, Tokyo’s 23rd ward was 69.21 million yen (about 3,332,900 yuan) per unit. It fell 2.8 percent from the previous month, the first decline in three months.
In major districts such as Setagaya and Suginami-ku, real estate developers’ price adjustment trend expanded.
Tokyo KANTEI, a real estate research company, conducted a survey of single-family houses with wooden structures of 50 to 100 square meters (including land) and newly built houses within 30 minutes on foot or 20 minutes by bus from the nearest station.
Prices in the Tokyo area (Tokyo, Kanagawa, Chiba and Saitama prefectures) fell 0.9 percent month-on-month to 52.6 million yen (about 2,526,200 yuan). Among them, the Tokyo metropolitan area as a whole fell 2.4 percent to 62.54 million yen (about 300.36 million yuan).
Kanagawa Prefecture rose 0.3 percent to 47.18 million yen (about 2,266,100 yuan). Saitama Prefecture rose 3.4 percent to 44.86 million yen (about 2.1546 million yuan). Chiba Prefecture rose 0.6 percent to 43.62 million yen (about 2,095,100 yuan).