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Rising Trends in Used Apartment Prices in the Tokyo Metropolitan Area

In a recent analysis commissioned by Athome Co., Ltd., a real estate information service based in Ota City, Tokyo, the price trends of used apartments in the Tokyo metropolitan area have been remarkably positive. According to the report published in April 2025, the average price per unit of used apartments in this region has reached 44.51 million yen. This marks a continued growth trend, with nine consecutive months of price increases when compared to both the previous month and the same month of the previous year.

Key Highlights of the Findings

• - Average Price Trends: The average price for used apartments in the Tokyo metropolitan area has shown consistent growth, now sitting at 44.51 million yen per unit. This trend signifies strong market demand, defying economic concerns that often impact housing.

• - Regional Performance: Notably, Saitama Prefecture has broken a 20-month cycle of year-on-year declines, indicating a recovering market in this area. In contrast, Saitama City and Chiba Prefecture are still facing challenges with prices falling year-on-year.

• - Record Highs: Both the Tokyo 23 wards and the cities of Yokohama and Kawasaki have reached their highest prices since January 2017. The Tokyo 23 wards, in particular, have seen a staggering year-on-year increase of 28.3%, the highest recorded since the study began.

Methodology of the Study

The research covers a range of areas including the 23 wards of Tokyo, cities in Kanagawa (Yokohama and Kawasaki), parts of Saitama (Saitama City and others), and western Chiba. This comprehensive approach allowed for a significant dataset from the Athome real estate information site, which focuses on consumer-registered listings.

• - Data Definition: For clarity, the report defines the average registration price (the asking price) for each unit as simply 'price.' It also categorizes apartment sizes to better reflect target demographics: units under 30 sqm are deemed 'suitable for singles,' 30-50 sqm for 'couples,' 50-70 sqm for 'families,' and units over 70 sqm as 'suitable for large families.'

Average Price Index Over the Past Year

The analysis of the average price per unit reveals a persistent upward trajectory, with year-on-year comparisons highlighting that while Saitama City has witnessed a consistent decline for the past 16 months, Saitama Prefecture has finally turned a corner, exceeding last year’s prices after a long stretch of stagnation.

Tokyo 23 wards have maintained high levels, with consistent peaks in price recorded for the last nine months. Particularly impressive was the price index change, which read +40.2, indicating a robust recovery in this lucrative market segment.

Conclusion

In summary, Athome's research indicates a vibrant and recovering market for used apartments in the Tokyo metropolitan area. With continued price growth and regional success stories, this analysis provides essential insights for potential buyers and investors looking to enter the real estate market in this dynamic urban landscape.

For a more detailed look into these findings, interested individuals can download the full PDF report through the link here: Athome Report.