TOKYO, Aug. 21 (Xinhua) -- The average price of newly built condominiums released in July across Tokyo and the surrounding three prefectures of Kanagawa, Saitama, and Chiba reached 100.75 million yen (about 682,682 U.S. dollars), according to data from a private research firm.

The figure marked a 28.4 percent increase compared to the same month last year, the Real Estate Economic Institute said.

By region, average prices in Tokyo's 23 wards surged 24.4 percent to 135.32 million yen, driven by the release of large-scale, high-end properties.

In Saitama, the average rose 42.9 percent to 70.7 million yen, supported by the supply of high-rise condominiums in areas such as Urawa and Kawagoe.

Kanagawa saw a 6 percent increase to 64.78 million yen, while Chiba climbed 11 percent to 59.32 million yen. In contrast, areas outside Tokyo's 23 wards fell 7.8 percent to 56.18 million yen.

Despite soaring prices, demand remains robust. "High-priced properties often sell out immediately or within the same month of release, and the supply of luxury condominiums is expected to continue into the autumn," the institute noted. (1 yen equals 0.0068 U.S. dollars) ■