Greater Tokyo condo transactions slip for first time in 18 months
- Adam German
- 40 minutes ago
- 2 min read
Greater Tokyo’s existing condominium market lost momentum in April, with transaction volume turning negative for the first time in 18 months while sold prices continued to rise.
The figures come from the Real Estate Information Network for East Japan, or REINS, pronounced “rains,” which released its April 2026 market report on May 13th.
REINS is the industry-only-accessed MLS system used to track brokered resale transactions across the region.
REINS data is widely used as a reference point for Japan’s existing housing market, but its transaction prices are based on reports voluntarily submitted by real estate companies and are not a legally mandated record of every property sale.
As a result, the figures should be read as an industry-based indicator of brokered resale activity rather than a complete registry of all transactions.
Graph courtesy of REINS report linked at the bottom of the article.
Existing condominium transactions in Greater Tokyo totaled 3,903 in April, down 1.2 percent from a year earlier.
By prefecture:
Tokyo: 2,008 transactions, down 6.7 percent
Saitama: 478 transactions, up 6.2 percent
Chiba: 468 transactions, up 6.6 percent
Kanagawa: 949 transactions, up 4.4 percent
The overall decline was driven by Tokyo, while Saitama, Chiba and Kanagawa all posted year-on-year gains.
Within Tokyo, the 23 wards recorded their fourth consecutive month of year-on-year decline, while Tokyo non-23 wards posted their first increase in two months.
In Kanagawa, both Yokohama and Kawasaki, as well as the rest of the prefecture, recorded their 18th consecutive month of transaction growth.
Despite the drop in condominium transactions, prices remained firm. The average sold price per square meter rose 5.9 percent year on year to 859,300 yen, extending its streak of annual gains to 72 consecutive months.
The average sold price per unit increased 5.4 percent to 53.21 million yen, marking the 18th consecutive month of growth.
The average building age rose to 27.25 years, 0.8 years older than a year earlier.
Condo supply also edged higher. New listings increased 1.6 percent year-on-year to 16,142, the first rise in three months, adding to overall inventory that rose for the second consecutive month, up 2.7 percent to 45,215 units.
The existing single-family-home (SFH) market moved in the opposite direction, with transactions returning to growth while inventory continued to tighten.
Existing SFH transactions in Greater Tokyo rose 3.5 percent year on year to 1,839, marking the first increase in two months.
By prefecture:
Tokyo: 568 transactions, flat year on year
Saitama: 413 transactions, up 2.5 percent
Chiba: 380 transactions, up 5.3 percent
Kanagawa: 478 transactions, up 7.4 percent
All prefectures except Tokyo posted year-on-year gains, with Kanagawa recording the strongest increase.
The average sold price for existing SFHs rose 9.8 percent year on year to 41.77 million yen, marking the fourth consecutive month of growth.
New listings were nearly flat but declined for the third consecutive month, slipping 0.6 percent to 6,620. Overall SFH inventory also fell for the third consecutive month, down 1.4 percent to 23,231 homes.
Further Reading:
REINS April 2026 Existing Condo & SFH Report (Japanese only; offers more granular information then outlined above; drop PDF into your favorite AI-bot for more detailed analyses).
Source:
R.E. Port News (Japanese only)
