Japan real estate prices hit record highs for condominiums and used houses

The Japanese real estate market is experiencing significant price increases across multiple sectors. According to data from Kenbiya for the period ending August 2026, the national average price for individual condominium units has surpassed 30 million yen for the first time since data collection began in 2008. This represents a 22.14% increase compared to the same month last year. In the Tokyo 23 wards, the average price reached 42.67 million yen, marking a recent yearly high.

While condominium prices rise, investment yields for single-building apartments have hit record lows, with the national average yield dropping to 7.89%. In urban centers like Tokyo, apartment prices remain high, with the 23 wards reaching an average of 141.11 million yen.

Simultaneously, At Home Co., Ltd. reports that the price of used detached houses in the Tokyo metropolitan area has risen to a median of 31 million yen, a 3.4% increase year-on-year. Six key areas within the metropolitan region, including Tokyo 23 wards, Kanagawa, and Saitama, have reached their highest price levels since the first half of 2017. Specifically, the Tokyo 23 wards saw a notable 11.1% year-on-year increase.