TOKYO, July 17 (Xinhua) -- The average price of a new condominium in central Tokyo in the first half of 2025 hit a record high of 130.64 million yen (about 878,400 U.S. dollars), local media reported on Thursday.
The price for Tokyo's densely populated 23 wards saw a jump of 20.4 percent from the previous year, as properties in popular areas continued to be seen as investment assets and remained in demand despite elevated prices, Kyodo News reported, citing the Real Estate Economic Institute.
"There is a good possibility that prices for the full year will hit a record high as luxury properties in the 23 wards are slated to be put on the market in the second half of the year," a representative from the research institute said.
Average prices for the wider metropolitan area covering the capital and the surrounding three prefectures of Kanagawa, Saitama, and Chiba also rose to the highest level for the January-June period, gaining 16.7 percent to 89.58 million yen, the report said. ■
