REAL ESTATE & TOURISM
Tokyo 23-Ward New Condos Hit ¥162.86M Average as Metro Supply Rises 12% in May
# new condominium# Tokyo 23 wards# unit price per sqm# greater Tokyo# housing price# real estate
Key Points
- May 2026: Tokyo 23-ward new condos averaged ¥162.86M per unit (+15.9% YoY), unit price ¥2.455M/sqm (+16.2%), far above the metro average of ¥106.6M
- Metro supply 1,447 units (+12.3% YoY, 2nd straight monthly rise); unit price ¥1.563M/sqm (+11.4%, up 13 months straight); first-month sales rate 64.9% (+7.0pt)
- Wide regional gap: 23 wards ¥162.86M vs Saitama ¥55.79M; Central-6 wards top unit price at ¥3.21M/sqm
- Method angle: unit price (per sqm) is more honest than average price, which is skewed by unit size; 23-ward unit price up 13 months running
- Takeaway: use unit price x floor area to back out total cost; the ¥100M line is normal only in the 23 wards and central Tokyo
Analysis
(Analysis pending.)
