Key Facts
• July 2025: Average price of new condos in Tokyo area reached ¥100.75 million.
• Prices rose 30% compared to the same period last year.
• Saitama, once considered affordable, now has condos exceeding ¥100 million.
• Example: ‘URAWA THE TOWER’ offers units priced between ¥89.8 million and ¥131.8 million.
• Saitama’s average new condo price increased 42.9% year-on-year to ¥70.7 million.
• Rising costs attributed to high-end sales in central Tokyo and suburban demand.
• Tokyo: ¥100.87 million; Kanagawa: ¥61.1 million; Chiba: ¥53.44 million; Saitama: ¥49.47 million (2024 data).
• Factors: Material and labor cost hikes, foreign buyers driving demand.
• Economists predict continued high prices, with potential localized ‘bubble’ effects.
Summary
The average price of new condos in the Tokyo metropolitan area surpassed ¥100 million in July 2025, marking a 30% year-on-year increase. Saitama, once a more affordable option, now sees luxury condos priced over ¥100 million, with the average price rising 42.9% to ¥70.7 million. Key drivers include high-end sales in central Tokyo, suburban demand, and foreign investment due to favorable exchange rates. Economists warn of sustained high prices, with potential localized ‘bubble’ effects, though a nationwide surge is unlikely.
