Central Tokyo premium condo prices hit record high in late 2025
- Adam German
- Mar 17
- 2 min read
Premium existing condominiums in central Tokyo reached a record average price of ¥13.35 million per tsubo in the October–December 2025 quarter, according to a report released March 12th by Mitsui Fudosan Realty.
The analysis is based on proprietary transactions and listing data compiled by the company’s private-client advisory service Mitsui no Real Plan, which provides real estate consulting to high-net-worth individuals.
Photo by Takashi Miyazaki on Unsplash
What Counts as a “Premium Condominium”?
For the purposes of the study, the company defines “premium mansions” as high-grade existing condominium buildings located in central Tokyo’s brand-name residential districts, selected from the resale market based on quality, location, and reputation.
The dataset used in the analysis covers:
275 condominium buildings
Approximately 42,800 units
Properties located across eight prime central Tokyo areas
These districts include:
Azabu, Akasaka, and Roppongi
Hiroo, Daikanyama, and Ebisu
Aoyama and Shibuya
Shirokane-Takanawa and Azabu-Juban
Ginza
Bancho Kojimachi Iidabashi area
Ichigaya and Yotsuya
Other adjacent luxury residential clusters in central Tokyo
The data is compiled from the brokerage group’s internal listing and transaction database, which tracks sales activity in these districts. The company began collecting the dataset in April 2006.
Record Prices Continue to Rise
During the October–December 2025 quarter, the average transaction price per tsubo (3.3 square meters) for premium condominiums reached ¥13.35 million, up 17.4% from a year earlier.
The figure marked the tenth consecutive quarterly record high.
Price growth was particularly pronounced in several central Tokyo districts:
Ginza area: prices rose 21.7% year-on-year
Bancho–Kojimachi–Iidabashi area: up 17.3%
The report suggests that demand for prime central Tokyo residences continues to strengthen, particularly in established luxury residential enclaves.
However, analysts noted that some districts showed short-term price corrections, indicating that market movements should be monitored carefully going forward.
Meanwhile, the average transaction price per unit climbed to ¥342.67 million, representing a 12.3% year-on-year increase.
Listings Rise Past 1,000 Units
The number of premium condominiums listed for sale rose sharply to 1,041 units, an 88.2% increase compared with the same period the previous year.
This marks the first time listings in the dataset have exceeded 1,000 units.
By area, listings increased in seven of the eight districts surveyed, except for the Hiroo–Daikanyama–Ebisu area, where supply did not expand.
Gap Between Asking and Closing Prices Widens
The report also tracked the difference between listing prices and final transaction prices.
During the quarter, the average price divergence rate - calculated as the difference between the listing price and the final contract price divided by the listing price - reached 4.64%, widening by 0.67 percentage points from the previous quarter.
Despite the slightly wider gap, the overall market for high-end resale condominiums in central Tokyo remains historically strong, with both prices and supply reaching new highs.
Further Reading:
Mitsui no Real Plan October to December 2025 Premium Condo White Paper (Japanese only)
Source:
R.E. Port News (Japanese only)
