Tokyo average price of new single-family homes falls for first time in six months
- Adam German
- Apr 10
- 2 min read
On April 9th, real estate data provider Tokyo Kantei released its latest report on average prices for newly built, wood-frame single-family homes (SFH) across Japan’s major metropolitan areas for March 2026.
Photo by Susann Schuster on Unsplash
The survey tracks subdivided home prices with land areas between 100 and 300 square meters, located within a 30-minute walk of the nearest train station or within a 20-minute bus ride, where both the land and building are freehold ownership.
Prices reflect the listed asking prices of newly built homes rather than transaction prices and are averages presented to illustrate trends. Always consult a licensed real estate agent for your property specific needs.
In the Greater Tokyo Area (GTA), the average price of newly built SFH rose to ¥49.41 million in March, up 0.6% from the previous month.
The GTA consists of Tokyo, Kanagawa, Chiba and Saitama prefectures.
Within Tokyo Prefecture the average price declined to ¥62.37 million, down 2.6% month-on-month and marking the first drop in six months.
Tokyo Kantei attributed the decline primarily to falling SFH prices in Tokyo’s 23 wards and an expanding share of supply in suburban municipalities outside the capital’s core.
Newly built SFH in Tokyo’s 23 wards averaged ¥112.02 million in March, down 7.3% from the previous month and the first decline in five months.
This pullback was partly attributed to a reversal of earlier high-priced transactions in central neighborhoods as well as price declines in the southwestern and western wards of the capital.
In contrast, prices for newly built SFH in Tokyo’s suburban municipalities, or non-23 wards, continued to rise. Average prices increased 2.4% to ¥53.83 million, marking a third consecutive monthly increase.
Across the wider Greater Tokyo Area, surrounding cities posted mixed results. Yokohama saw prices edge up 0.4% to ¥59.72 million, while Kawasaki rose 1.3% to ¥59.52 million.
By comparison, Saitama City fell 3.7% to ¥44.69 million, and Chiba City declined 1.8% to ¥39.08 million.
Further Reading:
Tokyo Kantei New SFH Average Price Report for March 2026 (Japanese only; offers more granular information then that outlined above)
Source:
R.E. Port News (Japanese only)
