Trends in New Construction Home Prices in the Tokyo Area and Beyond (April 2025)

The recent report by Athome, a leading real estate information service based in Ota, Tokyo, reveals notable trends in the prices of newly built single-family homes in the Tokyo metropolitan area. Conducted by Athome Lab, the analysis uncovers that the average price of new homes has reached ¥47.74 million, marking a 1.1% increase from the previous month and a 5.1% increase compared to the same month last year. This is the third consecutive month of price increases, indicating a robust real estate market in the region.

Key Findings

- Average Prices: The average price of newly built homes in the Tokyo metropolitan area is now ¥47.74 million, steadily increasing over the last few months and up from previous years.
- Consistency Across Regions: For the first time in 24 months, all eight surveyed areas, including Tokyo, Kanagawa, Saitama, and parts of Chiba, reported increases both compared to the previous month and from the same month last year.
- Regional Highlights: The seven areas, including Tokyo’s 23 wards and cities like Yokohama and Saitama, have reached their highest prices since January 2017.

Survey Overview

This survey focused on various areas including:

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

The data was collected from Athome real estate information site, emphasizing homes that are registered for potential sale (ownership only, with unique listings).

The key metric analyzed was the average registered price per home (indicating the asking price), which reflects the growing consumer demand in these regions.

Price Dynamics

The price trend indicates a significant increase across the metropolitan area, with all regions experiencing a continuous rise. Specifically, areas such as Tokyo’s 23 wards and Saitama City saw an increase of over 2%, driving the overall average prices upward. This growth suggests a resurgence in property values, reflecting wider economic recovery and consumer confidence.

Moreover, Saitama City experienced an 8-month consecutive upward trend, showcasing a substantial market turnaround. This is the first time in almost two years that all eight regions have shown a simultaneous increase in property values compared to both the previous month and the same month last year.

Conclusion

As the real estate landscape continues to evolve, these trends provide insightful perspectives on consumer behavior and market dynamics in the Tokyo metropolitan area. The current trajectory indicates a thriving market, with further potential for growth as demand for new homes persists.

For deeper insights and detailed data, you can download the full PDF report from Athome using the following link: Athome Market Report.