3.5% of new condos in Tokyo were sold to buyers with overseas addresses

The results are in, and 3.5% of the brand-new condominiums sold across Tokyo’s 23 wards in the first half of 2025 were purchased by buyers with offshore addresses, according to data compiled by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The ratio was 7.5% in Tokyo’s central six wards, 4.3% in Osaka City, and 2.5% in Kyoto City. The research did not look into the nationality of buyers, and may include both Japanese and foreigners in these figures. These figures indicate that foreign buyers are not to blame for rising home prices, despite sensationalist headlines.

This content is available to paid subscribers only.

Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,200 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.

To join our paid subscription service and access over 3,200 news articles on Japan's real estate market, please register here.

Already a paid member? Log-in using your details below.