[TOKYO] The number of condominiums offered for sale in Tokyo and surrounding areas in September had the biggest increase in 17 months as developers accelerated sales before a planned consumption tax increase in April.

Developers introduced 5,968 units to the market in September, 77 per cent more than the 3,366 units a year earlier, the Real Estate Economic Research Institute Co said in a report released in Tokyo yesterday. The last time the monthly data had a bigger gain was in April 2012, when it rose 82 per cent.

More apartments are being offered to capture last-minute buying demand before the government increases the rate of sales tax to 8 per cent in April 2014 to tackle the nation's swelling debt. The supply of new apartments in Tokyo this year will rise to as many as 55,000 units, the highest level since 2007, after five straight months of increase in supply, according to an estimate by the institute.