Analysis of Used Condominium Price Trends in the Tokyo Metropolitan Area: March 2025

In March 2025, the real estate service company Athome Co., Ltd. conducted a thorough analysis on the price trends of used condominiums in the Tokyo metropolitan area. According to the findings released by Athome Lab, the average price for a used condominium stood at ¥43.61 million, reflecting a significant increase of 1.8% from the previous month and a 12.4% rise compared to the same month last year. This marks an impressive eight consecutive months of price growth.

Highlights from the Tokyo Metropolitan Area

The Tokyo 23 wards have seen a noteworthy uptick, continuously increasing prices and marking the highest level since January 2017. In particular, the year-on-year growth reached a staggering 25%, the highest since the commencement of this survey, signifying strong demand and a competitive market environment.

Price Trends Outside the Tokyo Metropolitan Area

Looking at the eight areas outside Tokyo, which include cities like Sapporo, Sendai, Nagoya, Kyoto, Osaka, Kobe, Hiroshima, and Fukuoka, the price trends displayed a mixed result. Notably, Nagoya and Kyoto experienced a decline in prices from the previous quarter, while Sapporo, Osaka, Kobe, and Fukuoka achieved the highest levels since the first quarter of 2017. This indicates that while some cities are facing challenges, others are enjoying a stable market recovery.

Research Methodology

Target Areas

Athome publishes its findings monthly for regions including:

- Tokyo (23 wards and surrounding areas)
- Kanagawa (Yokohama and Kawasaki)
- Saitama (Saitama City and others)
- Chiba (western part including cities like Kashiwa and Matsudo)

Quarterly reports are provided for Sapporo, Sendai, Nagoya, Kyoto, Osaka, Kobe, Hiroshima, and Fukuoka, where the data is collected and analyzed for buyer interest and market behavior.

Data Definition

The analysis primarily focuses on the average registered price per condominium unit (the asking price) listed on the Athome property portal. The study categorizes units based on size:

- Units under 30㎡ are considered "single-oriented"
- Units between 30㎡ to 50㎡ are labeled as "couple-oriented"
- Units ranging from 50㎡ to 70㎡ are deemed "family-oriented"
- Units over 70㎡ are categorized as "large family-oriented".

As indicated by the data, the average price per unit in the metropolitan area has seen a consistent upward trend for eight consecutive months. Specifically, in Saitama City, the prices have marked a 15-month consecutive drop year-on-year. However, western Chiba County managed to outpace the previous year's prices for the first time in 17 months, highlighting a shift in market dynamics.

Furthermore, the Tokyo 23 wards have maintained high levels since August 2024, ending March with a notable increase of 3.3%. This data considerably underscores the resilience of the Tokyo real estate market. The significant 25% increase compared to last year’s average price remains a clear indicator of the strong demand and shifting price landscape in the used condominium market.

For further details on this analysis, readers are encouraged to download the full report from Athome via the provided link: Download PDF

Overall, these findings shed light on the current economic climate in the residential real estate sector, indicating both opportunities and challenges that various regions might face moving forward. Keeping an eye on these trends can help potential buyers and investors make informed decisions in this dynamic housing market.