TOKYO, May 21 (Xinhua) -- The average price of a new condominium in central Tokyo in April rose 38.9 percent from a year earlier to 124.98 million yen (about 786,000 US dollars), Kyodo News reported Thursday.

Tokyo Tower is lit up in red to celebrate the upcoming Chinese Lunar New Year, or Spring Festival, in Tokyo, Japan, Jan. 21, 2023. (File photo: Xinhua)

The jump in price for Tokyo's densely populated 23 wards reflected a rebound from the previous year's drop and rising construction costs, the report said, citing the Real Estate Economic Institute.

Meanwhile, average prices for the greater metropolitan area covering the capital and the surrounding three prefectures of Kanagawa, Saitama, and Chiba in the reporting month went up 24.8 percent from a year earlier to 87.36 million yen, but slipped below 100 million yen for the first time in three months, it added.

The number of new condos listed for sale in Tokyo and the neighboring prefectures rose 15.6 percent to 1,163 units.

Officials said that buyers "are taking more time to consider purchases" due to reasons such as rising interest rates, noting contract rates remain weak across almost all the greater metropolitan area.