Did you know that the average price of newly built apartments in Tokyo's central area reached a historical high of 217.5 million yen ($1.4 million) in March of this year? With prices soaring and demand increasing, what is driving the surge in Tokyo's real estate market? Read on to discover the factors behind this trend and what the future holds for Tokyo's apartment prices. Tokyo’s real estate market has been experiencing a significant increase in apartment prices, particularly in the central area of the city. In March of this year, the average price of newly built apartments in Tokyo’s 23 wards surpassed 200 million yen, reaching a historical high of 217.5 million yen. This represents a 2.7-fold increase from the same month the previous year. The trend was not limited to the capital city alone, as the average price of apartments in the wider Tokyo metropolitan area, including Kanagawa, Chiba, and Saitama prefectures, exceeded 100 million yen for the first time, reaching ...