Greater Tokyo sees second month of rising new condo supply with record high average prices
- Adam German
- Sep 19
- 1 min read
The Real Estate Economic Institute reported on September 18 that new condominium supply in the Greater Tokyo area rose sharply in August.
A total of 1,301 units were launched, up 78.7% year-on-year (YoY) and marking the second consecutive month of growth.
By region, new condo supply increased across the board except for Saitama Prefecture:
Tokyo’s 23 wards: 690 units (up 100.0% YoY)
Tokyo suburban areas: 176 units (up 158.8%)
Kanagawa Prefecture: 225 units (up 58.5%)
Saitama Prefecture: 87 units (down 20.9%)
Chiba Prefecture: 123 units (up 95.2%)
Tokyo accounted for 66.6% of total supply.
The initial contract rate - the share of units sold within the first month of release - was 65.1%, up 1.6 points from a year earlier but remaining below the 70% “healthy market” benchmark for the fifth straight month.
This indicator is widely used in globally and in Japan to gauge real demand in the condominium market: a rate above 70% typically signals strong buyer appetite, while sustained figures below that level point to more cautious consumer sentiment.
Average unit prices climbed 8.3% to ¥103.25 million, while the average price per square meter rose 8.2% to ¥1.588 million.
Both figures have exceeded year-earlier levels for four consecutive months. It was also the second straight month that the average unit price topped ¥100 million.
At the end of August, unsold inventory stood at 5,715 units, down 225 units from the previous month. Supply for September is projected at around 1,500 units.
Further Reading:
Real Estate Economic Institute August 2025 Greater Tokyo New Condo Report (Japanese only)
Source:
R.E. Port News (Japanese only)
