Tokyo Condo Selling Price Peaks at 130 Million Yen in the First Half of the Year
In the first half of 2025, the property market in the Greater Tokyo Area has shown a remarkable surge, with the average unit price of new condominiums reaching a record high of 89.58 million yen across Tokyo and its neighbouring prefectures, including Kanagawa, Saitama, and Chiba.
This figure marks a significant increase from the previous year, with Tokyo's average unit price surpassing 100 million yen for the third consecutive year. However, it is important to note that this data is based on projections, as the Real Estate Economic Institute Co. reports that the average unit price in the same area was 78.2 million yen in 2024.
Recent reports suggest that condominium prices in Tokyo have experienced sharp fluctuations. Before a market correction in spring 2025, prices surged by as much as 37.5% year-over-year. Furthermore, some sources indicate that apartment prices in Tokyo have nearly doubled since pre-COVID-19 times, averaging over 100 million yen.
This volatility implies that while the average price based on 2024 data is around 78.2 million yen, prices in 2025 have shown significant variations. The correction after the surge suggests that prices have moderated somewhat, but they remain elevated compared to past years.
In the individual prefectures, the average unit price of new condos varies. In Tokyo's 23 special wards, the average unit price was 89.58 million yen, while in the Yokohama area, it reached 103.76 million yen. The Chiba area followed closely behind with an average of 66.91 million yen, and the Saitama area recorded an average of 61.48 million yen. The average unit price in Kanagawa Prefecture was 102.01 million yen.
These figures represent a remarkable increase compared to the first half of 2021, when the average unit price of new condos in Tokyo's 23 special wards was 130.64 million yen, setting a new record. Meanwhile, the average unit price in the Yokohama, Kawasaki, Saitama, and Chiba areas collectively was 86.68 million yen.
As the property market in the Greater Tokyo Area continues to evolve, it is essential to stay informed about the latest trends and developments. These fluctuations underscore the importance of careful consideration and strategic planning for those looking to invest in the region's real estate market.
A potential photo opportunity could present itself as investors, financiers, and real estate agents gather to discuss the current surge in the Greater Tokyo Area's housing market, with the average unit price of new condominiums reaching over 100 million yen in Tokyo's 23 special wards. Despite the record high prices, it is crucial for those interested in investing in the region to stay updated on the market's trends and fluctuations, given the significant variations that have occurred in 2025.
