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. Read more
Japan's land prices increase for 7th quarter
Japan’s land prices have now increased for the seventh straight quarter, with the latest LOOK Report published by the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) showing an increase in all surveyed locations.Read more
Tokyo’s residential rental market remains stand-out performer as surrounding areas continue to decline
The average advertised rent for a condo-type apartment in Tokyo’s 23 wards reached a new record high in October of 4,866 Yen per square meter, up 14.1% year-on-year, according to Tokyo Kantei. Asking rents in newer builds less than five years old have come down from their peak seen in July, while rents in older buildings have shown more consistent growth since spring.
Rents in Yokohama City have dropped month-on-month for the past six months, and are currently 14.1% below their peak seen in May 2024. The average asking rent in October was 2,800 Yen per square meter, down 1.3% from the previous month and down 7.0% year-on-year. Rents in Saitama and Chiba cities are also down 12.7% and 16.1% respectively from their peaks seen in 2024.Read more
Keio launches private fund targeting office buildings
Railway operator Keio Corporation and Keio Realty & Development have launched a private real estate fund centered on office buildings. The fund is comprised of five office buildings in central Tokyo along with a commercial leased land site in the greater Tokyo area.Read more
Affordable housing fund launched in Tokyo
The Tokyo Metropolitan Government has announced the private-sector partners and managers for its affordable housing fund, selecting a group including Nomura Real Estate Development and Mitsubishi UFJ Trust and Banking Corporation. The 20 billion Yen (130 million USD) fund is intended to supply cheaper rental apartments for families in a market where rental inflation and home price growth is starting to have an impact on residents.Read more
Tokyo rents peak as landlords seek lower rents on new-builds
The average advertised rent of an apartment in Tokyo's 23 wards was 4,809 Yen per square meter in September, down 1.0% from the previous month as landlords of new-builds adjust rents downwards to meet lower-than-expected tenant demand. This is the first monthly drop in 10 months.Read more
Our 2025 Q3 Japan Real Estate Market Report
Japan’s real estate market momentum continued through Q3, supported by strong growth in Tokyo’s residential and office sectors, but with inbound tourism hitting record highs and over tourism emerging as a pressing concern, accommodation providers are finding themselves facing regulatory and supply-side pressures.
Our Japan Real Estate Market Report for the third quarter of 2025 is now available for download.
Subscribers can download our Q3 report below.Read more