The average price of a new condominium across Greater Tokyo passed 100 million yen over a half-year period for the first time. The Real Estate Economic Institute put the January to June 2026 average at 101.35 million yen, an increase of 13.1 percent on the year before.
Prices in the 23 wards of Tokyo were higher still. The average new-build condominium there reached 142.49 million yen in the first half of 2026, up 9.1 percent.
Supply is shrinking
Supply has not kept pace with demand. New-build supply in Greater Tokyo fell 0.8 percent in the first half to 7,989 units, which helps explain why prices kept climbing.
The resale market is cooling. Resale condominium contracts across Greater Tokyo fell 8.6 percent in July to 3,638, the fourth straight monthly decline, while unsold resale stock rose 5.5 percent.
Track more property coverage in our Real Estate section, and read about the currency backdrop in Trade and Currency.
Source: Real Estate Economic Institute, first-half 2026 report, 21 July 2026; REINS Monthly Market Watch, July 2026, as compiled by Housing Japan.
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