According to the monthly flash report released by the Public Interest Incorporated Foundation East Japan Real Estate Distribution Organization for March 2025, the used real estate market in the Tokyo metropolitan area saw a significant increase in the number of transactions compared to the same month last year, indicating a vibrant market.
The number of completed transactions for used apartments reached 4,991, marking a substantial increase of 31.0% compared to the same month last year. This marks the fifth consecutive month of year-on-year growth. The average transaction price per square meter was 79.01 million yen, representing a 4.1% increase compared to the same month last year, and has now risen for 59 consecutive months since May 2020. The contract price also rose to 49.45 million yen, up 2.6% year-on-year, marking the fifth consecutive month of year-on-year increases. By region, the contract price per square meter rose in Tokyo's 23 wards (up 11.2%) and the Tama area (up 5.2%), with Tokyo's 23 wards exceeding the previous year's figures for the 59th consecutive month. On the other hand, the transaction price per square meter decreased year-on-year in Kanagawa Prefecture, Saitama Prefecture, and Chiba Prefecture. The number of new listings remained almost flat year-on-year but decreased for the 13th consecutive month, and the number of inventory listings also decreased by 5.2%, marking the 11th consecutive month of year-on-year decline, indicating a limited supply of properties available on the market.
The number of transactions for existing single-family homes reached 2,196, marking a significant increase of 62.8% year-on-year and surpassing the previous year's figures for the fifth consecutive month. However, the transaction price decreased to 40.3 million yen (down 2.6% year-on-year). Both land area and building area also fell below the previous year's levels. By region, transaction prices fell year-on-year in all regions except Tokyo's 23 wards, with Saitama Prefecture seeing a decline for the fifth consecutive month. New listings increased by 12.5% year-on-year, marking the 27th consecutive month of growth, while inventory also increased by 10.1%, marking the 31st consecutive month of growth, indicating an increasing trend in property supply.
In Sapporo City, the number of used condominium transactions increased by 15.2%, and the transaction price per square meter also rose by 4.5%. In Sendai City, the number of used condominium transactions remained nearly flat, and the transaction price per square meter also remained nearly flat.
In the used single-family home market, the number of transactions in Sapporo City increased by 17.4%, but prices fell by 0.9%. In Sendai City, the number of transactions increased by 16.9%, but prices fell by 7.0%.
In March 2025, the used real estate market in the Tokyo metropolitan area saw a significant increase in the number of transactions, particularly for apartments, with prices continuing to rise. The number of transactions for single-family homes was also strong, but prices showed some signs of adjustment. The market trends going forward will be closely watched.
Reference: Monthly Flash Report MarketWatch Summary Report March 2025