Greater Tokyo new condo launches fall for first time in four months
- Adam German
- 2 hours ago
- 1 min read
The Real Estate Economic Institute released its October report on the Greater Tokyo Area (GTA) brand new condominium market on the 20th.
The GTA includes Tokyo, Kanagawa, Chiba, and Saitama prefectures.
GTA brand new unit launches totaled 1,316, down 28.2% year-on-year - the first decline in four months.
By area, launches fell sharply in Tokyo’s 23 wards (535 units, -34.4%) and Chiba Prefecture (100 units, -76.6%), while Tokyo’s non-23 ward areas (66 units, +24.5%), Kanagawa Prefecture (478 units, +9.6%), and Saitama Prefecture (137 units, +37.0%) all recorded increases.
The GTA initial contract rate fell to 63.0%, a drop of 20.3 points from a year earlier.
The initial contract rate measures the share of units sold within the first month of the first phase of launch. Globally, a rate of around 70% is widely viewed as the threshold for a “healthy” market, while levels below that indicate slower buyer absorption. Japan is no different.
Both prices and unit prices continued rising for the sixth consecutive month: the average unit price climbed to ¥98.95 million (+7.1%) and the average price per square meter reached ¥1.538 million (+11.5%).
As of the end of October, unsold inventory stood at 5,495 units, down 384 from the previous month. The institute expects around 3,000 units to be released in November.
Further Reading:
October 2025 Brand New Condominium Market Report (Japanese only)
Source:
R.E. Port News (Japanese only)
