JAPAN DATA: Supply of new condominiums in Tokyo and surrounding cities
stood at 3,462 units in March, down 6.1% y/y, first fall in five months,
after +13.0% in Feb, +32.6% in Jan, the Real Estate Economic Institute
said. That was lower than 4,200 projected last month. Of the 3,462 units
supplied, 2,742 units, or 79.2%, were signed for purchasing, above key
70% level for six months in a row. Figures above 70% are widely seen as
indicating steady demand. The institute said 4,000 units will be put on
the market this month, up from 2,318 in April 2011. It forecast 53,000
units to be supplied in 2012, up 19.5% from last year, when supply fell
0.1%.