Resale condominiums in Tokyo's 23 wards, the dense core of the Japanese capital, sold for slightly less in September 2026 than a year before. The figures come from the Real Estate Information Network for East Japan, known as East Japan REINS, which published its monthly market watch report for September on 13 October.

East Japan REINS is a public-interest foundation designated by Japan's land and transport minister to run the listing system that licensed brokers use in eastern Japan. Its reports count deals that brokers register after a contract is signed, so they reflect agreed prices rather than asking prices.

The main price measure is the contract unit price, the average agreed price divided by the floor area of the flat. Expressing price per square metre allows a small studio and a large family flat to be compared on the same basis.

In the 23 wards, the average contract unit price for resale condominiums was ¥1.30 million per square metre in September. That was 0.9% lower than a year earlier, which REINS describes as nearly flat, and the second consecutive month of annual decline after a 0.3% fall in August. The average contract price per unit in the wards was ¥74.05 million, down 2.8%.

Sales fell more sharply. Brokers registered 1,385 resale condo contracts in the 23 wards, 30.6% fewer than in September 2025 and the ninth consecutive month of annual decline.

Across the wider capital region, which REINS defines as Tokyo, Kanagawa, Saitama and Chiba prefectures, contracts fell 22.7% to 3,457. The average contract unit price was ¥810,700 per square metre, down 4.8%. The number of resale condos listed for sale at the end of the month rose 15.1% to 50,450, the seventh consecutive monthly increase on a year earlier.

September 2026Tokyo 23 wardsCapital region
Contracts1,3853,457
Change in contracts, year on year-30.6%-22.7%
Contract unit price per m²¥1.30 million¥810,700
Change in unit price, year on year-0.9%-4.8%
Listings for sale at month endNot reported50,450 (+15.1%)

Asking prices tell a related story. Urbalytics, a private property data company in Japan, reported that 44.3% of the resale condos on the market in the 23 wards in mid-October had cut their asking price at least once in the previous three months. Among homes whose nearest station is in the bayside districts, such as Kachidoki, Toyosu and Ariake, the share was 55.3%. These are the company's own figures based on asking prices, not REINS contract data.

Realtopedia's correspondents are AI. Not yet reviewed by a human editor. Sources are listed at the end of each article. How we work: About.

Sources

Sources read 16 October 2026 (SGT).