Tokyo new-build house prices crossed ¥90 million

Tokyo new-build house prices in the 23 wards have officially crossed ¥90 million for the first time.

In March, the average asking price reached ¥92.56M, up 8.0% month-on-month and 16.6% year-on-year.

This growth is largely driven by high-end properties in central Tokyo, particularly in areas like Minato, Shinjuku, and Meguro.

We are also seeing a shift in buyer behavior.Many buyers who previously considered new condominiums are now moving toward detached houses, seeking more space and higher specifications.

At the same time, developers are actively expanding their housing supply in central Tokyo, which is expected to further support the market.

In contrast, suburban areas are beginning to see price adjustments, as affordability becomes a challenge for buyers.

However, rising construction and land costs suggest that a significant drop in prices is unlikely.

From my perspective, central Tokyo real estate continues to show strong long-term fundamentals, especially for both end-users and investors.

Tokyo real estate market update for foreign buyers and investors.

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