Tokyo new condo prices up 21.1% in first half of FY2026
The average newly launched condominium in Greater Tokyo cost 114.94 million yen in the first half of FY2026, up 21.1% and above 100 million yen for the first time.
The facts
- The average price of a newly launched condominium in Greater Tokyo reached 114.94 million yen between April and September 2026, +21.1% year on year, Fudosan Keizai Kenkyusho reported on 20 October 2026.
- The publisher states this is the first time a fiscal half-year average has passed 100 million yen, and that both the unit price and the price per square metre set a fourth consecutive record.
- The price per square metre was 1.70 million yen, +18.8% year on year.
- Supply fell: 8,601 units were launched, -6.0% year on year, at a first-month contract rate of 62.8%.
- In September alone only 1,142 units were launched, -40.1% year on year, at a contract rate of 50.4%, and the monthly average price fell 4.1% to 95.52 million yen.
- In the Kinki region the half-year average was 60.10 million yen, +8.4%, on 6,557 units launched, -8.6%.
What it means for your money
- One year of waiting added 21.1% to the price of a new Tokyo flat. Fewer units came to market, so the choice narrowed too.
- Resale is the alternative segment: Glopra measures Tokyo's 23 wards at $11,800 per square metre for used condominiums, a separate market from these new launches.
- A higher launch price at an unchanged rent compresses the gross yield, and these are asking prices for newly marketed units rather than registered transactions.
- An existing owner sees the record as a mark-up on comparable stock, but September's contract rate of 50.4% shows buyers are not absorbing it at that pace.
What to watch
- Tokyo Kantei publishes its used-condominium 70 square metre price series on 22 October 2026 at 11:00 local time.
- September's contract rate of 50.4% was 10.7 points below August, so the half-year record rests on a weakening monthly market.
- The Kinki and Greater Tokyo series moved in the same direction on price but by very different amounts, +8.4% against +21.1%.
Sources: Fudosan Keizai Kenkyusho https://www.fudousankeizai.co.jp/share/mansion/689/2649_s.pdf; Fudosan Keizai Kenkyusho https://www.fudousankeizai.co.jp/share/mansion/691/RtE7hi21.pdf