This month in one line. August 2026: resale condos in Tokyo's 23 wards closed at an average ¥1.33m per ㎡ (−0.3% year on year; the 12-month average is +8.9% on a year earlier), while the asking price of condos listed for sale across Greater Tokyo was +28.4% year on year; MLIT's index for Tokyo condos (latest: December 2025) was at a seasonally adjusted record.
Generated from the data below each month. Resale figures: East Japan REINS, August 2026 (published 10 September 2026). Index: MLIT, latest month December 2025. One month is never the trend on its own: read it against the 12-month average and the charts.
Resale condos in Tokyo's 23 wards (REINS)
East Japan REINS, the listing network that licensed brokers in eastern Japan report their sales to, publishes closed resale prices around the 10th of each month. In August 2026, resale condos in the 23 wards closed at an average ¥1,326,900 per ㎡ (−0.3% on a year earlier). REINS noted in its release that this was the first year-on-year fall for the 23 wards in 76 months, since April 2020. A single month moves with the mix of flats that happen to sell (size, age, ward), so read it with the 12-month average, which is +8.9% on the previous 12 months. 1,265 sales closed in the 23 wards, −20.6% year on year (down year on year for 8 months in a row).
Tokyo 23 wards: resale condo price per ㎡, monthly
Table view: last 13 months
| Month | Closed ¥/㎡ | y/y | 12-month avg ¥/㎡ | Closed sales | y/y |
|---|---|---|---|---|---|
| August 2026 | ¥1,326,900 | −0.3% | ¥1.34m | 1,265 | −20.6% |
| July 2026 | ¥1,357,700 | +2.7% | ¥1.34m | 1,509 | −17.2% |
| June 2026 | ¥1,311,500 | +1.5% | ¥1.34m | 1,716 | −12.8% |
| May 2026 | ¥1,312,400 | +2.0% | ¥1.34m | 1,452 | −17.9% |
| April 2026 | ¥1,374,600 | +10.1% | ¥1.33m | 1,635 | −9.0% |
| March 2026 | ¥1,361,000 | +11.8% | ¥1.32m | 2,145 | −3.2% |
| February 2026 | ¥1,333,700 | +12.9% | ¥1.31m | 1,817 | −4.3% |
| January 2026 | ¥1,375,000 | +11.3% | ¥1.30m | 1,433 | −2.4% |
| December 2025 | ¥1,356,100 | +15.1% | ¥1.29m | 1,695 | +24.5% |
| November 2025 | ¥1,309,600 | +11.2% | ¥1.27m | 1,853 | +26.0% |
| October 2025 | ¥1,350,300 | +17.3% | ¥1.26m | 1,836 | +39.5% |
| September 2025 | ¥1,315,400 | +14.6% | ¥1.24m | 1,995 | +56.6% |
| August 2025 | ¥1,331,000 | +18.9% | ¥1.23m | 1,593 | +59.3% |
Tokyo 23 wards: resale condo sales closed, per month
Table view
| Month | Closed sales |
|---|---|
| August 2026 | 1,265 |
| July 2026 | 1,509 |
| June 2026 | 1,716 |
| May 2026 | 1,452 |
| April 2026 | 1,635 |
| March 2026 | 2,145 |
| February 2026 | 1,817 |
| January 2026 | 1,433 |
| December 2025 | 1,695 |
| November 2025 | 1,853 |
| October 2025 | 1,836 |
| September 2025 | 1,995 |
| August 2025 | 1,593 |
| July 2025 | 1,823 |
| June 2025 | 1,969 |
| May 2025 | 1,768 |
| April 2025 | 1,796 |
| March 2025 | 2,217 |
| February 2025 | 1,899 |
| January 2025 | 1,468 |
| December 2024 | 1,361 |
| November 2024 | 1,471 |
| October 2024 | 1,316 |
| September 2024 | 1,274 |
| August 2024 | 1,000 |
Based on data from East Japan Real Estate Information Network (REINS), "Monthly Market Watch Summary Report, August 2026", compiled by Japan House Prices. reins.or.jp
Listing prices vs closed prices
Across Greater Tokyo, what sellers are asking and what buyers are paying have moved apart. In August 2026 the average asking price of condos listed for sale was ¥1.19m per ㎡ (+28.4% year on year), while the average closed price was ¥816k per ㎡ (−3.8%). A year earlier the two were ¥930k and ¥848k. Listings in stock rose to 48,235 (+8.2%). Asking prices are not sale prices: they include flats that have not sold, and the listed stock can lean towards newer, larger or more central flats than those that close. The gap shows where sellers' expectations are, not a price anyone has paid.
Greater Tokyo: asking vs closed price per ㎡, resale condos
Table view: last 13 months
| Month | Asking ¥/㎡ (stock) | y/y | Asking ¥/㎡ (new listings) | y/y | Closed ¥/㎡ | y/y | Listings in stock |
|---|---|---|---|---|---|---|---|
| August 2026 | ¥1.19m | +28.4% | ¥1.17m | +21.5% | ¥816k | −3.8% | 48,235 |
| July 2026 | ¥1.18m | +28.2% | ¥1.18m | +20.4% | ¥842k | −1.5% | 47,151 |
| June 2026 | ¥1.17m | +28.6% | ¥1.16m | +22.0% | ¥826k | −0.8% | 45,995 |
| May 2026 | ¥1.14m | +28.8% | ¥1.13m | +22.3% | ¥808k | −3.9% | 45,804 |
| April 2026 | ¥1.13m | +29.3% | ¥1.14m | +23.1% | ¥859k | +5.9% | 45,215 |
| March 2026 | ¥1.10m | +29.9% | ¥1.11m | +23.5% | ¥863k | +9.3% | 44,728 |
| February 2026 | ¥1.07m | +29.5% | ¥1.09m | +24.1% | ¥856k | +8.2% | 45,112 |
| January 2026 | ¥1.05m | +31.5% | ¥1.11m | +30.0% | ¥870k | +6.3% | 44,776 |
| December 2025 | ¥1.02m | +31.4% | ¥1.09m | +31.2% | ¥851k | +9.0% | 43,381 |
| November 2025 | ¥1.00m | +29.5% | ¥1.04m | +28.7% | ¥822k | +3.5% | 43,156 |
| October 2025 | ¥971k | +25.9% | ¥1.02m | +25.8% | ¥854k | +13.6% | 43,669 |
| September 2025 | ¥947k | +26.2% | ¥1.01m | +28.6% | ¥852k | +12.3% | 43,850 |
| August 2025 | ¥930k | +26.4% | ¥962k | +20.9% | ¥848k | +13.5% | 44,578 |
Based on data from East Japan Real Estate Information Network (REINS), "Monthly Market Watch Summary Report, August 2026", compiled by Japan House Prices. reins.or.jp
The official price index (MLIT)
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) publishes a monthly price index built from recorded sales, adjusted for differences in the flats sold. For Tokyo condos, December 2025 stood at 234.8 seasonally adjusted (2010 = 100), the highest in the series on a seasonally adjusted basis. Not adjusted, it was 230.9, +9.8% on a year earlier and below the unadjusted peak of 235.6 in August 2025. On this measure Tokyo condo prices were about 2.3 times their 2010 level in December 2025. The latest three months are preliminary and MLIT revises them.
Publication paused. On 27 August 2026 MLIT postponed the index for January 2026 onward because of a fault in its calculation program; no new date has been set. So the latest figure is still December 2025 (published 31 March 2026), about nine months old instead of the usual three. When publication resumes, earlier months may be revised; we will update this chart then.
Tokyo condo price index (MLIT), 2010 average = 100
Table view: last 13 months
| Month | Seasonally adjusted | Not adjusted | y/y (not adj.) | Sample | Status |
|---|---|---|---|---|---|
| December 2025 | 234.8 | 230.9 | +9.8% | 580 | preliminary |
| November 2025 | 232.9 | 231.5 | +9.2% | 1,049 | preliminary |
| October 2025 | 232.2 | 229.5 | +10.9% | 1,382 | preliminary |
| September 2025 | 231.8 | 232.5 | +10.5% | 1,378 | |
| August 2025 | 234.2 | 235.6 | +11.9% | 1,175 | |
| July 2025 | 228.3 | 228.1 | +11.4% | 1,371 | |
| June 2025 | 225.5 | 223.8 | +9.8% | 1,286 | |
| May 2025 | 224.9 | 225.0 | +11.6% | 1,193 | |
| April 2025 | 221.2 | 222.3 | +10.2% | 1,177 | |
| March 2025 | 225.2 | 226.7 | +13.7% | 1,506 | |
| February 2025 | 220.9 | 224.0 | +11.8% | 1,065 | |
| January 2025 | 216.9 | 218.6 | +9.2% | 1,062 | |
| December 2024 | 214.1 | 210.3 | +9.8% | 1,246 |
Source: MLIT, Japan Residential Property Price Index (https://www.mlit.go.jp/totikensangyo/totikensangyo_tk5_000085.html). Processed by Japan House Prices: charts, selection of series and wording are ours, not MLIT's. 「不動産価格指数」（国土交通省）（https://www.mlit.go.jp/totikensangyo/totikensangyo_tk5_000085.html）を加工して作成
New condos
New-build prices are a different market from resale: they depend on which projects developers launch in a given month, and one large, expensive tower in central Tokyo can move the monthly average by tens of percent. For that reason we chart resale prices and the MLIT index above, and give only the latest new-build figures here. According to the Real Estate Economic Institute (不動産経済研究所), the average price of new condos launched across Greater Tokyo in August 2026 was ¥97,700,000 (9,770万円), or ¥1,444,000 per ㎡, and in the 23 wards ¥138,210,000 (13,821万円). For the full figures and past months, see the institute's own release: fudousankeizai.co.jp/mansion.
Source: Real Estate Economic Institute Co., Ltd. (不動産経済研究所), "Shutoken new condominium market trend", August 2026. Quoted figures only; the institute's tables and releases are not reproduced here.
Latest figures in your currency
Resale figures for August 2026 converted at one dated exchange rate (ECB reference rates of 25 September 2026; TWD: 18 September 2026), not the rate in August 2026. Currency moves alone can change these by several percent a month. New-build figures are not converted (quoted in yen only).
| Figure (August 2026) | JPY | USD | TWD | HKD | KRW | THB | AUD | SGD |
|---|---|---|---|---|---|---|---|---|
| Tokyo 23 wards · closed price per ㎡ REINS official | ¥1,326,900/㎡ | US$8,420/㎡ | NT$269,152/㎡ | HK$66,046/㎡ | ₩11.41m/㎡ | ฿280,760/㎡ | A$11,977/㎡ | S$10,753/㎡ |
| Tokyo 23 wards · closed price per ft² REINS official ÷ 10.764 | ¥123,273/ft² | US$782/ft² | NT$25,005/ft² | HK$6,136/ft² | ₩1.06m/ft² | ฿26,083/ft² | A$1,113/ft² | S$999/ft² |
| Tokyo 23 wards · average closed price our aggregation of REINS districts; avg 55.9 ㎡ | ¥75,270,000 | US$477,632 | NT$15.27m | HK$3.75m | ₩647.22m | ฿15.93m | A$679,399 | S$609,993 |
| Greater Tokyo · closed price per ㎡ REINS official | ¥816,000/㎡ | US$5,178/㎡ | NT$165,520/㎡ | HK$40,616/㎡ | ₩7.02m/㎡ | ฿172,658/㎡ | A$7,365/㎡ | S$6,613/㎡ |
| Greater Tokyo · average closed price REINS official; avg 62.9 ㎡ | ¥51,290,000 | US$325,465 | NT$10.40m | HK$2.55m | ₩441.02m | ฿10.85m | A$462,952 | S$415,657 |
| Greater Tokyo · asking price per ㎡ (listed stock) REINS official | ¥1,193,600/㎡ | US$7,574/㎡ | NT$242,113/㎡ | HK$59,411/㎡ | ₩10.26m/㎡ | ฿252,555/㎡ | A$10,774/㎡ | S$9,673/㎡ |
Exchange rates used
| Currency | JPY per 1 unit | Date | Source |
|---|---|---|---|
| US dollar (USD) | ¥157.6 | 25 September 2026 | ECB reference rate |
| New Taiwan dollar (TWD) | ¥4.93 | 18 September 2026 | US Federal Reserve H.10 cross rate (ECB has no TWD) |
| Hong Kong dollar (HKD) | ¥20.09 | 25 September 2026 | ECB reference rate |
| Korean won (KRW) | ¥0.1163 | 25 September 2026 | ECB reference rate |
| Thai baht (THB) | ¥4.726 | 25 September 2026 | ECB reference rate |
| Australian dollar (AUD) | ¥110.8 | 25 September 2026 | ECB reference rate |
| Singapore dollar (SGD) | ¥123.4 | 25 September 2026 | ECB reference rate |
Based on data from East Japan Real Estate Information Network (REINS), "Monthly Market Watch Summary Report, August 2026", compiled by Japan House Prices. Conversions are ours. Exchange rates: ECB euro foreign exchange reference rates (cross rates via EUR); TWD via FRED (US Federal Reserve H.10).
Go deeper
- Prices by ward (actual recorded sales, MLIT): central Tokyo apartment prices · Minato · Chuo · Chiyoda · Shibuya · Shinjuku · Tokyo ¥/㎡ and ft² by ward
- Total cost of buying: tax & cost calculator
- Financing: Japan mortgages for foreigners, by residency status
- Land: Tokyo official land prices by ward and station
- Risk: Tokyo earthquake & flood risk by ward
- Process: buying property in Japan as a foreigner
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Sources and credits.
- Resale (tables and charts): Based on data from East Japan Real Estate Information Network (REINS), "Monthly Market Watch Summary Report, August 2026", compiled by Japan House Prices. Link: https://www.reins.or.jp/. 東日本不動産流通機構「月例速報マーケットウオッチ・サマリーレポート＜2026年8月度＞」をもとに当社作成. The 12-month averages, the 23-ward average price (sum of REINS's five ward districts) and all currency conversions are our calculations, not REINS figures.
- Price index: Source: MLIT, Japan Residential Property Price Index (https://www.mlit.go.jp/totikensangyo/totikensangyo_tk5_000085.html). Processed by Japan House Prices: charts, selection of series and wording are ours, not MLIT's. 「不動産価格指数」（国土交通省）（https://www.mlit.go.jp/totikensangyo/totikensangyo_tk5_000085.html）を加工して作成. Licensed under the Public Data License (Version 1.0). Not published or endorsed by MLIT.
- New condos (quoted figures only): Source: Real Estate Economic Institute Co., Ltd. (不動産経済研究所), "Shutoken new condominium market trend", August 2026. https://www.fudousankeizai.co.jp/mansion. 出典：㈱不動産経済研究所「首都圏 新築分譲マンション市場動向」（2026年8月度）
- Exchange rates: ECB euro foreign exchange reference rates, 25 September 2026; TWD: US Federal Reserve H.10 via FRED, 18 September 2026.
Japan House Prices is not affiliated with REINS, the Real Estate Economic Institute or MLIT. This page is not a valuation, an offer of property, or investment advice; past prices do not predict future prices. Last reviewed 2026-09.