Central Tokyo Condo Price Tops 100 M. Yen for 2nd Year

Newsfrom Japan

Economy

Apr 21, 2025 16:35 (JST)

Tokyo, April 21 (Jiji Press)–The average unit price of new condominiums put up for sale in Tokyo’s densely populated 23 wards exceeded 100 million yen for the second straight year in fiscal 2024, Real Estate Economic Institute Co. said Monday.

In the year ended in March, the average condo price rose 11.2 pct from the previous year to 116.32 million yen, hitting a record high for the fourth consecutive year, reflecting increases in land prices and construction costs, including labor expenses.

The average unit price of new condos in Tokyo and the neighboring prefectures of Kanagawa, Saitama and Chiba grew 7.5 pct to 81.35 million yen, also hitting a record high for four years in a row.

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