TOKYO (Kyodo) -- The number of new condominium units listed for sale in the Tokyo region in the first half of 2019 dropped 13.3 percent from a year earlier, as companies focused on reducing inventories, a research institute said Thursday.
Between January and June, 13,436 new condos were put on sale in Tokyo, Chiba, Kanagawa and Saitama prefectures -- the lowest level since 10,959 units were offered in the first half of 1992, according to the Real Estate Economic Institute.
The average unit price was 61.37 million yen ($570,000), a 2.9 percent rise from the previous year. It marked the seventh consecutive yearly growth and the highest since 1991.
An official of the institute said the unit price climbed amid a trend among potential buyers of putting emphasis on finding condos in convenient locations, as well as increasing land prices.