Tokyo existing condo price per sqm rises for 70th straight month
- Adam German
- 56 minutes ago
- 2 min read
The Real Estate Information Network for East Japan (REINS) on March 10 released its latest report on residential real estate market trends in the Greater Tokyo Area (GTA) for February 2026.
The number of existing condominium transactions in the GTA totaled 4,241 units, up 2.1% year-on-year, marking the 16th consecutive month of increases.
The average transaction price per square meter rose to ¥856,100, up 8.2% year-on-year, extending a 70-month streak of price increases.
Graph courtesy of REINS. Transaction prices are voluntarily reported by agents, while listing prices are mandatory. The red line reflects only reported transactions which can help to explain the significant divergence.
The average price per condominium unit climbed to ¥54.58 million, up 9.5%, marking the 16th consecutive month of gains.
By prefecture, Tokyo recorded 2,227 transactions, down 3.3% from a year earlier.
Saitama saw 549 transactions (up 21.5%), while Chiba recorded 485 (up 9.0%) and Kanagawa 980 (up 3.0%).
By area, transactions in Tokyo’s central 23 wards declined for a second consecutive month, while surrounding suburban areas posted increases. Saitama Prefecture recorded growth for the 17th consecutive month, while Kanagawa - including Yokohama and Kawasaki as well as other areas - recorded increases for 16 consecutive months.
The average floor area of transacted condominiums was 63.75 square meters, up 1.2% from the previous year.
The average building age rose to 27.14 years, 1.1 years older than a year earlier.
New listings totaled 15,453 units, down 0.3% year-on-year and marking the first decline in three months.
Total inventory stood at 45,112 units, down 0.2%, extending a seven-month streak of gradual declines.
Meanwhile, existing single-family home transactions reached 1,910 units, up 13.0% year-on-year, marking the 16th consecutive month of increases.
By prefecture, Tokyo recorded 584 transactions (up 4.7%), Saitama 446 (up 37.2%), Chiba 399 (up 9.3%), and Kanagawa 481 (up 8.8%), with all areas posting gains.
The average transaction price for existing detached homes rose to ¥41.15 million, up 5.0% year-on-year, maintaining an upward trend and remaining above ¥40 million for four consecutive months.
New listings totaled 6,338 units, down 1.8% year-on-year.
Inventory stood at 23,685 units, down 0.1%. Although the decline was modest, it marked the first drop in inventory since August 2022, ending a 42-month stretch of stable or rising supply.
Further Reading:
February 2025 Existing Condo & SFH Report (Japanese only; offers more granular data then than outlined above)
Source:
R.E. Port News (Japanese only)
