Greater Tokyo new condominium prices fell in November on a slump in the number of high-end luxury units added to the market.

The Real Estate Economic Institute says the average for just-built apartments put on the market in Tokyo, Kanagawa, Saitama and Chiba prefectures declined 3.2 percent from a year earlier to 79.8 million yen, or about 500,000 dollars, last month. Prices hit a record high for the April to September period this year.

The research firm reported that although the added supply of new luxury condominiums worth 300 million yen or more in Tokyo's 23 wards fell, an increase in construction costs is expected to keep prices high going forward.

Total units added to the market in the greater Tokyo area in November fell 18.7 percent from a year earlier to 2,231. The figure topped 2,000 for the first time in eight months.

The institute predicts about 25,000 new units will be added to the market next year. But the researcher also said prices are likely to rise amid expectations for a continued increase in construction costs.