Short-Term Resales of Condominiums More Common in Urban Centers

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released a report on short-term condominium resales (within one year of purchase) across Japan’s three major metropolitan areas—Tokyo, Osaka, and Nagoya—and four major regional cities. The study analyzed approximately 550,000 newly built units registered between 2018 and 2025.

Short-term resales increased notably in metropolitan areas, particularly Tokyo and Osaka. In the January–June 2024 registration period, short-term resale rates reached 6.3% in the Tokyo area and 5.6% in Osaka, while Nagoya remained low at 1.6%. Within Tokyo, the rate was significantly higher in central wards, with the six central wards reaching 12.2%.

The share of short-term resales by overseas residents is rising, especially in Tokyo’s 23 wards, where it reached 7.0%. In central Tokyo, however, overseas buyers accounted for only 2.6% of all short-term resales, and none involved units priced at 200 million yen or more.

Large-scale condominium projects (100+ units) showed a sharp increase in short-term resales, hitting 9.9% in Tokyo’s 23 wards. Regarding overall acquisitions by overseas residents, Tokyo recorded the highest rate at 3.0%. Among foreign buyers in Tokyo’s 23 wards, Taiwan stood out with the largest number of acquisitions, followed by China, Hong Kong, Singapore, the U.S., and the U.K.

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