#Japan #Tokyo #property market #At Home #Tokyo Real Estate

Insights from the At Home Survey on Real Estate

At Home Co., Ltd., a prominent real estate information service provider based in Ota, Tokyo, has conducted a survey focusing on the real estate brokerage business across Japan. Specifically, this survey targets At Home member stores operating in 14 areas across 13 prefectures, aiming to analyze the residential property distribution market's economic trends. This marks the 50th iteration of the quarterly survey initiated in early 2014, reflecting ongoing real estate dynamics across the regions.

Key Findings

• - Sustained Rental Market in Capital Region: The rental market remains robust, experiencing two consecutive quarters with a DI over 50 in the greater Tokyo area. However, there is a noted decline in the Kinki region due to decreasing relocation activities.

• - Decline in Sales Activity in Tokyo's 23 Wards: In contrast, the sales market has witnessed a significant drop in the DI for Tokyo's 23 wards, falling sharply from over 50 in the previous quarter. This decline seems to be indicative of a shifting demand-supply landscape owing to rising prices.

• - High Demand for Commercial Spaces: Demand for leased properties, including offices and retail spaces, remains high in Tokyo's 23 wards, primarily driven by entrepreneurial activities.

Analysis by Junko Iwazaki, Executive Officer at At Home Lab

The sales market in Tokyo's 23 wards has been notably affected by the fluctuations in the central three wards, leading to an unexpected plunge in the DI. Despite challenges in the sales market, the rental sector continues to exhibit strength, especially in the capital region post busy season. Although rental prices are soaring, many young individuals have managed to cope with these costs thanks to salary increases and improved benefits offered by employers.

In the realm of property sales, the drastic decrease in the DI for the 23 wards can be traced back to declines in central metropolitan areas. Factors contributing to this downturn include soaring prices and rising interest rates, which have led to an increased number of potential homebuyers postponing their purchases. Additionally, there are signs of stagnation in demand from both investors and foreign buyers who have historically driven market growth.

The reduction in transaction numbers has resulted in an accumulation of inventory properties, creating a backlog that could potentially influence surrounding areas. It's crucial to monitor whether these emerging trends will permeate beyond the core metropolitan zones and affect wider market conditions.

Survey Overview

Period:

June 12 - June 25, 2026

Participants:

This survey sampled At Home member stores with over five years of brokerage experience, spanning 13 prefectures including Hokkaido, Miyagi, Tokyo, Shizuoka, Aichi, Kinki region, Hiroshima, and Fukuoka. The focus was primarily on management-level personnel, garnering a total of 1,937 valid responses.

Note: The DI used in this survey reflects changes compared to the same period in the previous year.

For more detailed insights, please download the PDF from the following link: At Home Market Survey 2026 PDF.