Greater Tokyo condo activity shows gap between brand new and existing segments
- Adam German
- 3 days ago
- 2 min read
On December 22nd, the Real Estate Economic Institute released its November 2025 report on market trends for brand-new condominiums in the Greater Tokyo Area (GTA).
On the same day, the Real Estate Information Network System Promotion Center published data on the usage of the Designated Distribution System (REINS), providing an overview of existing condo market activity.
November 2025 Newly Built Condominium Market
The number of newly built condominium units launched in the GTA totaled 1,910 units in November, down 14.4% year on year (YoY), marking the second consecutive monthly decline.
By area, launches numbered 890 units in Tokyo’s 23 wards, up 26.2%, while Tokyo non-23 wards saw 235 units, down 34.2%.
Kanagawa Prefecture recorded 378 units, up 4.1%, while launches fell sharply in Saitama Prefecture to 243 units, down 57.4%, and in Chiba Prefecture to 164 units, down 30.2%.
The initial contract rate stood at 60.2%, down 1.3 percentage points from a year earlier.
An initial contract rate of around 70% is widely viewed as the benchmark for healthy conditions in Japan’s new condominium market.
The average price per unit rose to ¥91.81 million, up 14.9% year on year, while the average price per square meter increased to ¥1.458 million, up 20.1%. Both metrics extended their upward trend to seven consecutive months.
As of the end of November, the number of units remaining for sale stood at 5,733, an increase of 238 units from the previous month.
The number of units scheduled for release in December is expected to be around 6,000.
November 2025 Existing Condominium Market
According to the Real Estate Information Network System Promotion Center, new condo listings registered with REINS totaled 298,122 units in November, down 12.3% year on year, marking the 20th consecutive month of decline.
In contrast, reported transactions reached 52,958 units, up 8.3% from a year earlier, extending the positive trend to 13 consecutive months.
The total number of registered properties stood at 807,343 units, down 7.3% year on year, marking the 18th consecutive month of decline.
For properties for sale, new listings totaled 116,381 units, up 5.3% year on year. Reported transactions for for-sale properties reached 22,090 units, up 31.2%, marking the 13th consecutive monthly increase.
The total number of registered condos stood at 432,257 units, virtually unchanged from the same month last year.
Sources:
Brand-New Condo Article (R.E. Port News; Japanese only)
Existing Condo Article (R.E. Port News; Japanese only)
