Japan MLIT releases first ever data on short term resales of Tokyo new condos

On November 20^th, the Nikkei Shimbun reported that the share of newly built condominiums in Tokyo’s 23 wards that were resold within one year of purchase reached 9.3% for units bought between January and June 2024, according to preliminary findings from Ministry of Land, Infrastructure, Transport and Tourism (MLIT) analysis based on property registry data.

Photo by Jezael Melgoza on Unsplash

This marks the first time the ministry has conducted such a study, with full findings expected to be released in the near future.

The share of purchases made by buyers with overseas registered addresses was 3.5% for January to June of 2025, helping to illustrate buyer trends of the new condos originally sold in 2024.

Overseas addresses include both Japanese and foreign owners living overseas.

With condo prices continuing to surge, the MLIT aims to curb speculative transactions in coordination with real estate industry associations.

Short-term resales were more prevalent in the city’s core six wards - Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya - where the rate clocked in at 12.2% for the January to June 2024 originally sold inventory then sold to overseas buyers in the first half of 2025.

The figure for Tokyo prefecture overall stood at 8.5%.

According to the Real Estate Economic Institute, the average price of a newly built condominium in the 23 wards in October was ¥153.13 million, up 18.3% from a year earlier.

Speculative activity has been cited as one possible factor behind the sharp rise in prices.

Source:

Nikkei Shimbun (Japanese only; paywalled)