- July 18, 2025
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Table of Contents
Tokyo Apartment Price Hits Record High
On July 17, 2025, the Real Estate Economic Institute Co., Ltd. announced that the average price of newly built condominiums in Tokyo’s 23 wards reached a record high of ¥130.64 million per unit in the first half of the year (January to June), marking a 20.4% increase compared to the same period last year.
This surge in Tokyo apartment prices has been driven by purchases from wealthy domestic and international buyers. Compared to other major Asian cities, Tokyo apartment prices still offer a sense of relative affordability. Developers are focusing heavily on high-end properties targeting affluent buyers, resulting in a limited supply of mid-range units.
As a result, the number of units released in the greater Tokyo metropolitan area decreased by 11.2% year-on-year to 8,053 units—the fourth consecutive year of decline. The drop in supply is also influenced by more general buyers hesitating to purchase amid rising prices.
1. Breakdown of Supply (January–June 2025)
- Total units released: 8,053 (down 1,013 units or 11.2% from 9,066 units in the same period last year)
Note: The record high was 46,816 units in 2000.
By Area
Tokyo 23 wards: 2,964 units (36.8%)
Tokyo suburbs: 908 units (11.3%)
Kanagawa Prefecture: 1,874 units (23.3%)
Saitama Prefecture: 1,150 units (14.3%)
Chiba Prefecture: 1,157 units (14.4%)
2. Average Prices and Price Per Square Meter
- Overall average price: ¥89.58 million
- Average price per square meter: ¥1.35 million
- Compared to the previous year:
- Average unit price increased by ¥12.81 million (up 16.7%)
- Price per square meter rose by ¥193,000 (up 16.7%)
- Both figures surpass the previous record set in 2023 for a first-half period.
By Area (Average Unit Price / Price per m² / Year-on-Year Change)
Tokyo 23 wards: ¥130.64 million / ¥2.015 million (up 20.4% / 16.7%)
Tokyo suburbs: ¥68.35 million / ¥1.118 million (up 19.8% / 31.4%)
Kanagawa Prefecture: ¥69.57 million / ¥1.039 million (up 12.4% / 11.7%)
Saitama Prefecture: ¥65.51 million / ¥958,000 (up 26.9% / 24.4%)
Chiba Prefecture: ¥57.38 million / ¥802,000 (down 1.6% / 1.4%)
