TOKYO (Feb 24): Evidence is mounting that Tokyo’s housing boom is nearing an end. Prices in the neighborhood, which surged 25% since Tokyo won the Games in 2013, have started to fall from their peak. The number of unsold new apartments in the city reached the highest in seven years in 2016. The glut of unsold new and existing apartments topped 50,000 last year, a level that in the past has preceded price declines, said Otani. “Inventory is climbing and the property market has already started to deteriorate,” Otani said.

Source: The Edge Markets February 24, 2017 02:20 UTC