Tokyo Condo Prices Extend Decline as Inventory Reaches New High

Tokyo, 23 October 2026 – Prices of existing condominiums across Greater Tokyo fell for a fifth consecutive month in September, with the average sale price declining 4.5% year on year to ¥51.11 million. The average price per square metre dropped 4.8% to ¥810,700, according to verified market data covering completed transactions.

The decline matters to Asian property investors because it combines softer prices with a sharp rise in available stock, changing the balance between buyers and sellers in one of the region’s most closely watched housing markets. The figures confirm cooling transaction conditions; whether that becomes a prolonged correction will depend on financing costs, household demand and the pace at which inventory is absorbed.