Chiyoda Ward requests developers ban condominium resale for five years

Chiyoda Ward in Tokyo has requested real estate developers, including Mitsubishi Jisho Residence, to prohibit the resale of new condominiums within the ward for a period of five years following delivery. This request specifically targets properties that receive floor area ratio (FAR) incentives under Tokyo Metropolitan Government systems.

The initiative aims to curb speculative short-term resales that drive up local market prices and impact rent levels. While the ward previously made similar requests to industry associations in 2025, this marks the first time it has directly approached individual projects.

Critics argue the measure may not lower housing costs, as prices are primarily driven by rising land, construction, and labor costs. There are also concerns regarding property rights and the potential risk to actual residents who may face unforeseen life changes, such as job loss or relocation, during the five-year restricted period.