On July 30th, Tokyo Kantei released updated price-by-station rankings along Tokyo’s Chuo Line, focusing on the stretch between Tokyo and Mitaka stations.
This report calculates the average price per tsubo (approximately 3.3 square meters) for properties near train stations, covering the period from April to June 2024.
The data, presented in units of 10,000 yen, includes information on average property age and floor space, offering a detailed snapshot of market conditions across the region.
Tokyo to Mitaka Chuo Line Condo Price per Tsubo Ranking
Price per Tsubo in ~0,000's JPY (avg. age of structure in years / avg. size in square meters)
Example: Tokyo = 687 (8.3 / 61.4) means price per tsubo is JPY 6,870,000 with an average build age of 8.3 years and average size being 61.4 sqm.
Chuo Line Station | Current Price per Tsubo | 1 Year Prior Price per Tsubo | 2 Years Prior Price per Tsubo |
Tokyo | 687 (8.3 / 61.4) | 581 (8.5 / 66.6) | 601 (6.4 / 76.0) |
Ochanomizu | 372 (36.0 / 41.2) | 363 (29.3 / 41.9) | 391 (26.2 / 40.9) |
Yotsuya | 706 (19.0 / 69.0) | 517 (20.3 / 58.7) | 497 (23.8 / 63.8) |
Shinjuku | 404 (32.6 / 34.7) | 366 (33.8 / 37.8) | 344 (34.4 / 35.6) |
Nakano | 364 (32.6 / 49.2) | 355 (29.0 / 45.8) | 300 (33.4 / 44.0) |
Koenji | 277 (33.8 / 34.4) | 305 (29.6 / 37.0) | 272 (32.7 / 34.9) |
Asagaya | 282 (31.1 / 43.1) | 268 (29.5 / 41.6) | 266 (31.3 / 34.8) |
Ogikubo | 277 (33.7 / 45.2) | 278 (34.2 / 47.4) | 265 (32.2 / 44.6) |
Nishi Ogikubo | 274 (36.2 / 48.1) | 254 (36.4 / 45.1) | 243 (38.1 / 43.7) |
Kichijoji | 319 (31.5 / 59.0) | 297 (29.8 / 59.3) | 286 (33.2 / 53.6) |
Mitaka | 279 (28.8 / 54.0) | 269 (29.9 / 54.4) | 255 (29.5 / 52.8) |
Source: Tokyo Kantei, translated by Patience Realty
In the Tokyo-to-Mitaka section, Yotsuya recorded the highest average price at 7.06 million yen per tsubo.
Continuing its upward trend from the previous period, where it crossed the 5 million yen mark, Yotsuya saw a significant 36% price increase this period.
Despite the number of cases analyzed remaining steady at 123, the area’s appeal has grown due to its younger and larger properties. The average property age in Yotsuya is now 19 years, the second youngest on the Chuo Line, and the average floor space has increased to 69 square meters.
After a strong performance in the last period, Koenji experienced a reversal, with prices dropping by 9%, bringing the average price per tsubo to 2.77 million yen.
This decline is largely due to an increase in the proportion of older properties, raising the average age of properties in Koenji to 33.8 years.
Nishi-Ogikubo and Kichijoji continue to perform well, each recording price increases exceeding 7% from the previous period.
Inokashira Park near Kichijoji station. Photo by note thanun on Unsplash.
Kichijoji, in particular, has crossed the significant 3 million yen per tsubo threshold, underscoring its ongoing desirability among buyers.
Data from Tokyo Station, however, is more volatile due to the limited number of cases—only around 20—making it susceptible to fluctuations influenced by individual property characteristics.
Chuo Line Tokyo to Takao Condo Price Averages
The average price per tsubo along the whole JR Chuo Line, running from Tokyo to Takao, has decreased slightly to 2.52 million yen, a drop of 20,000 yen compared to the same period last year.
The analysis included 5,895 properties, marking a slight increase of 58 from the previous year.
The average age of the properties surveyed is now 30.3 years, up from 29.4 years last year, while the average floor space has expanded to 54.72 square meters from 53.79 square meters.
Source:
Tokyo Kantei Chuo Line Station Condo Price Rankings (July 2024; Japanese only)
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