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Recent Trends in Used Apartment Prices in the Tokyo Metropolitan Area

In the ever-evolving landscape of real estate, the latest report from At Home, Inc. sheds light on the price trends of used apartments in the Tokyo metropolitan area as of August 2025. This comprehensive analysis was conducted by At Home Lab, showcasing invaluable insights into the current market dynamics.

Key Highlights

• - The average price of used apartments in the Tokyo metropolitan area has reached 47.49 million yen, marking a continued rise for 13 consecutive months, both in comparison to the previous month and the same month last year.
• - For four straight months, all eight areas surveyed have reported year-on-year increases.
• - Certain regions, including the 23 wards of Tokyo and three others in Chiba Prefecture, have experienced the highest prices since January 2017. Notably, the year-on-year price increase for the 23 wards of Tokyo stands at an unprecedented +35.0%, the highest since the start of the survey.

Survey Overview

Target Areas

The study focuses on several areas including the 23 wards and outskirts of Tokyo, along with Kanagawa (Yokohama and Kawasaki), Saitama (Saitama City), and Chiba Prefecture (western region, as detailed below):

• - Western Chiba Region: Cities such as Kashiwa, Matsudo, Nagareyama, Abiko, Ichikawa, Urayasu, Narashino, and Funabashi.

Data Source

The report utilizes data from At Home, a real estate information website where properties have been registered and published for consumer access. Duplicate listings have been filtered to ensure unique entries.

Price Definition

In this analysis, the 'average registered price per apartment' (indicating the desired selling price) is referred to simply as the 'price'. The commentary classifies apartment sizes as follows:

• - Single-oriented: Less than 30㎡
• - Couple-oriented: 30㎡ to less than 50㎡
• - Family-oriented: 50㎡ to less than 70㎡
• - Large family-oriented: More than 70㎡

Detailed Price Trends

Recent data indicates an increase in average prices for apartments across the metropolitan area, with month-on-month and year-on-year comparisons revealing upward trends. Some areas, like Yokohama and Kawasaki, have seen price decreases for the first time in seven months, affecting over half of the regions surveyed.

Nonetheless, three regions, including Tokyo's 23 wards, have continuously ascended in price for more than four months, demonstrating varied momentum in pricing across different locales. Encouragingly, all regions have registered year-on-year increases for four consecutive months.

Moreover, both the 23 wards of Tokyo and three surrounding areas in Chiba have reached their highest price marks since early 2017. Specifically, the 23 wards have recorded a year-on-year rise of +35.0%, representing the peak since the commencement of this detailed pricing survey.

Conclusion

The real estate market in the Tokyo metropolitan area remains robust, with significant growth in used apartment prices. For a comprehensive understanding of these market fluctuations, the full PDF report can be downloaded from the At Home website at the following link: Download PDF.