Tokyo area used house prices fall 6.5% in October 2026
Used detached homes in the Tokyo area averaged 41.87 million yen in October, down 6.5% on the month, while new-build prices in Tokyo set a series record.
The facts
- Tokyo Kantei, in two reports published on 9 November 2026, put the average price of a used detached house across the Greater Tokyo area at 41.87 million yen in October, -6.5% on the month and the first fall in three months.
- Inside that area Tokyo itself fell 13.0% to 70.22 million yen and Kanagawa 3.0% to 43.05 million yen, while Saitama rose 1.0% to 29.87 million yen and Chiba was broadly flat at 30.75 million yen.
- The Kinki region around Osaka moved the other way: used detached houses rose 11.8% to 31.76 million yen, the highest since the series began in April 2014, with Osaka up 13.0% to 36.82 million yen.
- New-build detached houses rose 3.1% to 52.80 million yen across Greater Tokyo, and in Tokyo itself 6.2% to 71.53 million yen, the first time it has exceeded 70 million yen since the series began in April 2014.
- Aichi set records in both segments, at 31.87 million yen used and 38.99 million yen new-build. Neither report states its sample size or whether the prices are asking or agreed.
What it means for your money
- Used entry prices across Greater Tokyo fell 6.5% in a month while new build rose. The segment, not the timing, now sets the price.
- Glopra data put Japan at 5,397 US dollars per square metre with a bubble risk score of 67 out of 100, in the elevated band, so a cheaper second-hand entry still sits in a market the Glopra measure flags as stretched.
- For an existing owner the split cuts both ways: a used home in Tokyo is marked -13.0% on the month, while new-build stock in the same city stands at a series high.
What to watch
- Whether the Kinki record holds. A single month of 11.8% in a regional average can reflect which houses happened to change hands rather than a shift in the market.
- With no sample size and no stated price basis, these monthly swings carry more noise than a transaction index would.
- Tokyo Kantei publishes its condominium series separately, so October's detached figures say nothing about the apartment market most cross-border buyers use.
Sources: Tokyo Kantei https://www.kantei.ne.jp/report/single_family/9628/; Tokyo Kantei https://www.kantei.ne.jp/report/single_family/9626/