Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Tokyo Apartment Supply Has Biggest Increase Since 1994

May 17 (Bloomberg) -- The number of condominiums offered for sale in Tokyo and surrounding areas in April had the biggest gain in 18 years as Japan’s property industry recovered from a record earthquake and tsunami in March 2011.

The number of new condominiums put on the market last month surged 82 percent from a year earlier, the Real Estate Economic Research Institute said in a report released in Tokyo today. Japanese developers introduced 4,211 apartments into the market last month, compared with 2,336 a year earlier. The last time the monthly data had a bigger gain was October 1994, when it rose 86 percent.

An improvement in Tokyo’s housing market has helped developers post higher earnings. Mitsui Fudosan Co., Japan’s biggest developer, last week said it expects full-year profit to rise 9.7 percent in the current business year, while Sumitomo Realty & Development Co. said on May 14 full-year net income rose 4.6 percent, helped by a recovery in its housing business.

The Topix Real Estate Index, a measure of 46 property-related stocks, had the biggest gain in one month and closed 2 percent higher, bringing its year-to-date advance to 13 percent.

To contact the reporter on this story: Kathleen Chu in Tokyo at kchu2@bloomberg.net; Katsuyo Kuwako in Tokyo at kkuwako@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.