#Japan #Tokyo #Market Trends #Tokyo Real Estate #Mansion Navi

An In-Depth Look at Tokyo's Used Condominium Market in 2025

Overview

The condominium market in Tokyo has witnessed significant shifts over the years, particularly influenced by external factors such as interest rates and construction costs. Mansion Research Co. Ltd., headquartered in Chiyoda Ward, Tokyo, has compiled data from its extensive database, 'Mansion Navi,' covering 143,000 properties nationwide, to provide a comprehensive quarterly report on the used condominium market in Tokyo, specifically focusing on the trends emerging between October and December 2025. This report aims to objectively analyze the market's current position and has been developed in response to a growing demand for reliable information.

Background and Objectives

In the Tokyo used condominium market, complexities arising from variations in pricing categories, geographic disparities, interest rates, and construction costs render it challenging to gain a clear understanding of the current landscape. Acknowledging this situation, the report provides a structured overview of key indicators and underlying causes. The content is crafted for a wide audience, aiming to serve as a beneficial reference for market understanding.

Key Findings

1. Clear Differentiation in Transactions by Price Range: Stability in high-price segments contrasted with limits in mid-price category purchases.
2. Factors Influencing Transactions by Area: In Tokyo, emphasis has been placed on 'asset value', while surrounding areas prioritize 'practicality'.
3. Changes in External Market Conditions: An acceleration of 'selection and differentiation' influenced by external factors.

Market Analysis for 2025

As of 2025, the used condominium market in the Tokyo metropolitan area has seen a significant impact from a rise in policy interest rates to a level not seen in 30 years at 0.75%. This new 'world of interest rates' has tightened the market, compelling a selection process whereby both area and property specifications critically define demand.

Structural Changes Identified

• - Price Disparities Between Tokyo and Surrounding Areas: Despite rising interest rates, the per tsubo price in Tokyo has continuously seen an upward trend, reflecting sustained demand. In stark contrast, the surrounding prefectures of Kanagawa, Saitama, and Chiba have shown signs of price stagnation or mild declines since mid-2024, highlighting a clear disparity between urban and suburban markets.
• - Decline in Demand for Newer, Spacious Properties: The highest-priced segment, 'over 50㎡ and built after 2006', is seeing a decreasing percentage of transactions. The dual impact of skyrocketing prices and rising interest rates has made it increasingly challenging for regular wage workers to enter this segment, indicating a clear purchase limit being reached.
• - Area-Specific Demand Shifts: As demand visibly diverges by area, a trend emerges in Tokyo prioritizing asset value even in smaller spaces, whereas surrounding prefectures show a shift towards practicality, opting for older, more spacious options.
• - Outlook for 2026 and Beyond: The market's collective behavior is undergoing fragmentation, moving away from uniform trends to more granular selections based on location, age, and size of properties. In an uncertain market, comprehensive analyses that take into account not just price movements but also interest and income contexts will become increasingly critical.

Conclusion

This report sheds light on the evolving dynamics of the used condominium market in Tokyo, urging stakeholders to consider not just price indicators, but also changes in demand drivers and external economic influences. For further detailed insights, the complete report can be accessed here.

By continuing to provide valuable information, Mansion Research aims to enhance support for those involved in condominium transactions.

About the Author

Shinji Fukushim, Head of Real Estate Data Analysis at Mansion Research Co. Ltd.
More about Shinji Fukushim

Company Details

• - Name: Mansion Research Co. Ltd.
• - CEO: Riki Yamada
• - Location: 5-2 Kanda-Mitsudōcho, Chiyoda-ku, Tokyo
• - Established: April 2011
• - Capital: 100 million yen

For inquiries, please contact the Mansion Research editorial department via:

• - Phone: 03-5577-2041
• - Email: [email protected]

Related Services

• - Mansion Navi: A portal for condominium price trends and market dynamics.
• - Sumikauru: An owned media platform offering deep insights into real estate transactions.