Greater Tokyo Existing Condominium Prices Rise for the 22nd Consecutive Month

According to data released by Tokyo Kantei on June 23, the average price of a 70-square-meter existing condominium in the Greater Tokyo area reached ¥73.6 million in May 2026, up 1.9% month-over-month, marking the 22nd consecutive month of price growth.

In the Tokyo metropolitan area, prices increased across all prefectures. Tokyo recorded an average price of ¥112.5 million, extending its streak of gains to 25 consecutive months, while Kanagawa, Saitama, and Chiba also posted monthly increases.

Within Tokyo's 23 Wards, the average condominium price rose to ¥128.49 million, also marking 25 consecutive months of growth. However, the six central wards saw a slight decline of 0.4%, suggesting that price growth may be moderating in the most expensive areas. In contrast, outer ward groups continued to rise by 1.5%, indicating that demand is spreading beyond the city center.

The Kansai region also maintained strong momentum, with prices rising 2.0% year-on-year equivalent month-over-month to ¥35.51 million, led by Osaka Prefecture, where prices increased 2.6% due in part to a higher number of transactions involving relatively new properties in Osaka.

By contrast, the Chubu region and Aichi Prefecture both recorded modest declines, continuing a recent downward trend.

Key takeaway: Japan's major metropolitan condominium markets remain strong, especially in Greater Tokyo and Osaka, but growth appears to be shifting from the most expensive central districts toward surrounding areas as affordability pressures increase.

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