#Japan #Tokyo #Real Estate #Used Condos #Rennovation

Introduction

In the face of skyrocketing prices for new condominiums, a significant trend has emerged in the housing market: the purchase of used condos combined with renovations. According to the Ministry of Land, Infrastructure, Transport and Tourism's 'Housing Market Trends Survey for Fiscal Year 2026', approximately 75.7% of households purchasing used condominiums cited affordability as a primary reason for their choice.

This article explores the realities of choosing used condos followed by renovations. We will delve into how much buyers spent on their properties, what types of properties were favored, and the regrets many experienced homeowners now have regarding their decisions.

Survey Overview

A survey was conducted by Anabuki Digital Service Co., Ltd. (located in Shibuya, Tokyo), which operates the renovation quotation service 'Reform Guide'. The study targeted individuals aged 25 to 69 who had purchased and renovated a used condominium within the last three years. Here are the details of the survey:

• - Participants: 198 individuals
• - Location: Nationwide
• - Method: Online survey
• - Survey Period: February 3 to February 10, 2026

Findings

Preference for Condominiums Built 20 to 40 Years Ago

Around 60% of those who renovated properties chose used condominiums aged between 20 and 40 years. The most common age group was 20 to 30 years old (36.4%), followed by 30 to 40 years old (23.7%). This choice reflects a balance of affordability and the potential for comfortable living conditions after renovations.

This specific age range offers a reasonable property price, which has seen a decline since new construction, while still being structurally sound enough for effective renovation. Homebuyers are increasingly opting for this cost-effective solution that allows them to customize older properties rather than paying the premium for new one.

Affordability in Prices

About 80% of buyers spent less than 40 million yen on their used condominiums, and approximately 70% spent under 5 million yen on renovations. The distribution for purchasing used condos revealed that 32.8% bought properties for under 20 million yen, while 28.3% purchased for 30 to 40 million yen.

The cost of renovations varied, with around 70% of respondents indicating they spent less than 5 million yen. Those who spent less than 3 million yen typically focused on essential areas like kitchens and bathrooms. Conversely, those with renovation budgets exceeding 3 million yen began addressing issues like layout changes and additional storage solutions, indicating that an increase in budget allows for more comprehensive adjustments.

Motivations by Age Group

The motivations for preferring used condos and renovations vary by age group. Among those in their 20s, the desire to create a personalized living space was paramount. They viewed the combination of purchasing used properties and renovating as a way to achieve their ideal homes rather than a compromise.

In contrast, individuals in their 30s and 40s often prioritized location and affordability, citing the high costs of new constructions as a barrier to entry into their desired neighborhoods. This cohort may also be considering their children's schooling and family needs, making location a priority in their residential choices.

Older buyers, especially those in their 50s and 60s, were influenced by chance; they bought properties that serendipitously met their criteria while maintaining a focus on affordability.

Regrets of Buyers

Survey participants reflected on what they wished they had explored further during the buying and renovation process. The most common regret before purchasing involved checking for hidden defects like aging plumbing systems. Other noted inquiries that were overlooked included the history of significant repairs and whether the property could accommodate their desired renovations.

When it came to renovations, the foremost concern was whether the estimates received for work were fair or reasonable, indicating a notable gap in understanding market prices among buyers.

Conclusion

The growing trend of purchasing used condominiums coupled with renovations reflects a strategic approach to home buying amid rising new construction costs. Buyers are increasingly seeking properties built 20 to 40 years ago, enabling them to manage their budgets effectively while enhancing their living spaces through renovations. However, as revealed in the survey, the importance of thorough research and assessment cannot be understated, particularly in examining structural integrity and price competitiveness of renovation quotes.

For those considering home improvements, 'Reform Guide' offers a comprehensive quotation service to help alleviate the uncertainties associated with selecting reliable renovation companies. By providing support from initial decision-making to contract management, they empower homeowners to embark on their renovation projects with confidence.