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Overview of the At Home Real Estate Sentiment Survey

At Home Co., Ltd., a leading real estate information service based in Ota City, Tokyo, has conducted its latest survey on local real estate brokerage sentiment for the second quarter of 2025. This quarterly survey targets At Home affiliates across 14 areas in 13 prefectures nationwide, focusing on the residential real estate distribution market's economic trends.

Initiated in the first quarter of 2014, this marks the 46th edition of the survey. The analysis for this report has been entrusted to At Home Lab Co., Ltd., located in Chiyoda City, Tokyo.

Key Findings

Rental Market Outlook

In the rental market, the business situation diffusion index (DI) showed a positive trend for 7 out of the 14 surveyed areas compared to the same period last year. Particularly notable responses from the Tokyo 23 wards and suburban areas reflected that even when budgets are exceeded, transactions are still being completed. The capacity to keep pace with rent increases strongly influences the dynamics of the rental market in these regions.

Overall, many areas reported business situation DIs near 50, indicating a general stability compared to the previous year. However, while the DI for transaction rents increased due to rising rents, the DI for transaction volumes experienced a decline. In response, the Tokyo 23 wards managed to sustain a relatively high DI of 54.3 by compensating for decreasing transaction volumes with higher unit prices, suggesting a robust demand driven by single individuals and families with financial flexibility.

Despite the strong demand, concerns have emerged regarding the upcoming period, particularly with rising living costs and rents, as well as potential moving hesitations due to extreme heat.

Sales Market Dynamics

The sales market also displayed a mixed bag of results, with 10 of the 14 areas reporting an increase compared to the previous quarter; however, only 6 areas recorded positive year-on-year performance. The conditions in the metropolitan areas continue to present challenges for actual buyers, indicating a tough environment for potential homeowners.

Commercial Space Performance

The performance of rental commercial spaces varies significantly between the Tokyo 23 wards and the other 13 areas surveyed. The latter group notably shows a trend of shrinking budgets for rental properties, impacting overall performance.

Expert Analysis

Insights from Junko Iwazawa

Junko Iwazawa, Director of Data Marketing at At Home Lab Co., Ltd., provided insights into the survey outcomes. She emphasized the persistent strength of demand in the Tokyo 23 wards, driven by the area's ability to accommodate rent increases. The survey indicated that affluent individuals and families continue to propel the rental market's success, even as they encounter challenges with rising prices.

Meanwhile, with future economic predictions suggesting potential drawbacks, including inflationary pressures and significant weather events influencing relocation trends, the sentiment surrounding the upcoming quarters remains cautious. Real estate brokers should be prepared for fluctuations as they adapt to these ongoing changes.

Survey Details

• - Survey Period: June 13, 2025, to June 25, 2025
• - Participants: Real estate agencies registered in 13 prefectures, each with over five years in mediation. A total of 1,955 responses were validated from key management echelons.

The DI employed in this survey reflects year-on-year trend assessments, allowing for an organized understanding of the real estate market's status.

For further insights and detailed statistics, a full PDF of the survey results can be downloaded from the At Home website: At Home Survey PDF.