Tokyo 23 Wards New Apartment Average Price Breaks 116 Million Yen, Hits Record High

In FY 2024, the average price of new apartments in Tokyo's 23 wards reached 116.32 million yen, a year-on-year increase of 11.2%, breaking the 100 million yen mark for the second consecutive year and hitting a record high.

Tokyo's highly concentrated population and capital have driven continuous price increases. Core locations have high-quality properties in short supply, and continued attention from overseas investors on Tokyo real estate has further pushed up market prices.

From a regional analysis, core areas such as Minato Ward and Chiyoda Ward showed the most significant increases. Areas around commercial districts such as Shinjuku and Shibuya have strong apartment demand, and properties along convenient subway lines are highly favored.

For investors, it is recommended to focus on new projects in core locations, evaluate long-term holding value and rental returns, and seize the current market window period.

Data source: Japan Real Estate Economic Research Institute, newsonjapan.com