Key facts
- Average asking price for existing condos in six central Tokyo wards fell 1.6% in September.
- The decline marks the fifth consecutive month of falling prices.
The average asking price for existing condominiums in six central Tokyo wards fell 1.6% in September from the previous month, according to real estate research firm Tokyo Kantei. This marks the fifth consecutive month of declining prices. Investor demand has tapered off as expectations for future price gains fade. More sellers are cutting their asking prices as rising mortgage rates weigh on buyers' purchasing power.