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Tokyo Metropolitan Area New-Build Home Prices Rise for Fifth Consecutive Month
2/9/26, 12:00 pm
New-build detached home prices across the Greater Tokyo area continued their upward trend in July 2026, marking the fifth consecutive month of growth and reaching a new record high in several key markets.
New-build detached home prices across the Greater Tokyo area continued their upward trend in July 2026, marking the fifth consecutive month of growth and reaching a new record high in several key markets.
According to At Home Co., Ltd., the average asking price for a newly built detached home in the Greater Tokyo area rose 0.9% month on month to ¥51.84 million, representing a 7.8% increase from the same month a year earlier. Prices have now risen year on year for 23 consecutive months.
Among the eight submarkets surveyed, Tokyo’s 23 wards recorded the highest average price at ¥91.43 million, followed by Tokyo’s western suburbs at ¥54.49 million and the Yokohama/Kawasaki area at ¥57.18 million. Prices also reached record highs since January 2017 in several areas, including the Tokyo 23 wards, western Tokyo, Yokohama/Kawasaki, Saitama City and other parts of Saitama and Chiba.
The continued appreciation highlights the strength and resilience of the Greater Tokyo residential market. For international buyers and high-net-worth individuals considering a second home or investment property in Japan, the data points to sustained demand and limited affordability in prime residential locations, particularly in and around central Tokyo.
The average asking price for existing condominiums also increased, rising 1.4% month on month to ¥59.28 million, up a substantial 25.8% year on year. Condominium prices have increased year on year for 24 consecutive months. Tokyo’s 23 wards remained one of the most expensive markets, with an average asking price of ¥88.84 million, while several other areas also reached their highest levels since 2017.
For overseas investors, these trends indicate that residential property values in the Greater Tokyo area remain on a strong upward trajectory. Prime locations continue to command a significant premium, while surrounding markets may offer a broader range of opportunities for buyers seeking a combination of lifestyle value, long-term capital appreciation and access to Tokyo.
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