【REINS Monthly Market Watch｜July 2026】Greater Tokyo Resale Condo Sales Fall to 3,638, Down 8.6% for a Fourth Month, While the Price per Square Metre Rebounds to ¥841,700
- Last month (June 2026): 4,241 deals at ¥826,400 per sq m. This month (July 2026): 3,638 deals at ¥841,700 — 603 fewer deals (-14.2%) but ¥15,300 more per sq m (+1.9%).
- Year on year the two diverge: transaction count is down 8.6%, a fourth straight monthly decline, while the price per sq m is down 1.5%, a third straight month below last year.
- Central Tokyo's 23 wards recorded 1,509 deals, down 17.2% and falling for a seventh month — yet the price per sq m there, ¥1,357,700, rose 2.7% and has now climbed for 75 consecutive months since May 2020.
- Tama bucked the trend with 354 deals (+3.8%) at ¥584,400 per sq m (+10.5%); outer Kanagawa also grew, at 277 deals (+1.5%).
- Average age of units sold reached 27.70 years, against 26.67 a year earlier. Note: REINS overhauled its contract-registration system in January 2025, so year-on-year comparisons carry a structural break.
In June 2026, Greater Tokyo saw 4,241 resale condominium deals at ¥826,400 per square metre. In July 2026 the count fell to 3,638 while the price rose to ¥841,700 — 603 fewer deals (-14.2%) and ¥15,300 more per square metre (+1.9%). Volume down, price up, in the same month.
Against a year earlier (3,979 deals at ¥854,700), the count is down 8.6% and has fallen for four straight months, while the price per square metre is down 1.5% for a third straight month. The average total price, ¥52.67m, slipped 0.7% on the year. Units sold averaged 27.70 years old, against 26.67 a year ago.
On the pre-pandemic benchmark, the REINS monthly release carries only the past 13 months, so July 2019 is not in the source and we do not estimate it. The report does supply a long-run marker of its own: ¥841,700 still sits above the ¥835,000 recorded in October 1990, at the height of the bubble.
Tokyo drives the contraction. The 23 wards booked 1,509 deals, down 17.2% and falling for a seventh month, yet their price per square metre, ¥1,357,700, rose 2.7% and has now risen for 75 consecutive months. Tama went the other way: 354 deals, up 3.8%, at ¥584,400 (+10.5%). Saitama (-3.2%), Chiba (-3.5%) and Kanagawa (-1.1%) all shrank; only outer Kanagawa grew. In central Tokyo it is volume retreating, not price. Note that REINS overhauled its contract-registration system in January 2025, a structural break in year-on-year figures.
Previous instalment: 【東日本REINS 月例 Market Watch｜2026年6月】首都圈中古大樓成交單價 82.64 萬日圓／㎡，年減 0.8%，連兩月低於去年同月 — https://jpyonline.pages.dev/article/2026-07-20-56-tokyo-area-resale-condo-deals-close-jpy-826/
