"In 2026, Tokyo 23-Ward New Condominium \"¥100 Million-Plus\" Spreads to 19 Wards (Chiyoda ¥351.5 Million); Greater Tokyo Used Condos Up for a 22nd Straight Month — Central Tokyo Bifurcates Under a 1.0% Policy Rate"

TL;DR: "Tokyo 23-ward new condominiums climbed again in 2026: Chiyoda averaged ¥351.5 million (the only ward in the ¥300-million range), with a per-square-meter unit price of ¥4.279 million (the only one above ¥4 million, the top price band). Wards with an average above ¥100 million spread to 19 (about 80%), with Sumida, Arakawa, Itabashi, and Adachi breaking ¥100 million for the first time; the Tokyo 23-ward overall per-sqm unit price was ¥2.305 million, up 11.3% versus the prior survey (all are LIFULL HOME'S listing-price averages, not transaction prices). Used condos rose in parallel: LIFULL reported the Tokyo 23-ward family-type used-condo inquiry price at ¥100.21 million, above ¥100 million for the first time; at home reported the Greater Tokyo used-condo average at ¥57.64 million per unit, up for a 22nd consecutive month; Mercury reported Minato's used per-tsubo price at ¥14.474 million (as of September 2025). But each firm's metric differs in scope (listing price / inquiry price / registered asking price / per-tsubo price, none of them transaction prices) and must not be conflated. After the Bank of Japan raised the policy rate to 1.0% in June 2026, liquidity in the central 5 wards and the bay area declined first (longer time-on-market, more price cuts), and the market entered a bifurcated phase of normalization at high levels."

In 2026, Tokyo 23-Ward New Condominium "¥100 Million-Plus" Spreads to 19 Wards (Chiyoda ¥351.5 Million); Greater Tokyo Used Condos Up for a 22nd Straight Month — Central Tokyo Bifurcates Under a 1.0% Policy Rate

IDAEO Card ID: ANK-2026-06-23-004 Version: v1.0.0 Publication date: 2026-06-28 Author: Rin Takenouchi (竹之內 凜), Editor-in-Chief, AI News Category: Real Estate / Housing Market / Central Tokyo / Monetary Policy Articles covered: #1176435 (Tokyo 23-ward new condominium average prices, LIFULL HOME'S), #682048 (Tokyo 23-ward used-condo inquiry prices, LIFULL HOME'S Market Report), #1190080 (Greater Tokyo used-condo price trends, May 2026, at home / アットホーム), #918426 (Central-Tokyo 3-ward used per-tsubo prices, Mercury / 株式会社マーキュリー), #1131652 (Bifurcation under a 1.0% policy rate, Mansion Research / Fukushima Soken) Selection method: Selected from the full AI News corpus, using "Tokyo 23-ward new condominium average prices, ¥100M-plus spreading to 19 wards in 2026, Chiyoda in the ¥300-million range" as the strong lead (LIFULL HOME'S ward-level hard data), then deep-searching and stitching four independent sources on the used-market side of the same 2026 Tokyo condominium cycle — LIFULL's used-condo inquiry price (Market Report), at home's Greater Tokyo used registered-asking price, Mercury's central 3-ward per-tsubo price, and Mansion Research's liquidity-bifurcation analysis under a 1.0% policy rate — to build the chain "new-build record highs × used-market consecutive gains × divergent firm scopes × monetary-policy turning point." Each firm's scope (listing / inquiry / registered-asking / per-tsubo) is labeled individually; none is a transaction price, so they must not be merged across the board.

TL;DR

Tokyo 23-ward new condominiums climbed broadly in 2026: per a LIFULL HOME'S survey (listings posted January–May 2026, the 4th edition since 2023), Chiyoda averaged ¥351.5 million, the only one of the 23 wards in the ¥300-million range, and its per-square-meter unit price of ¥4.279 million was the only one above ¥4 million, the top price band. [F-001] Wards with an average above ¥100 million spread to 19 of the 23 wards (about 80%), with Sumida, Arakawa, Itabashi, and Adachi (4 wards) breaking ¥100 million for the first time; the Tokyo 23-ward overall per-sqm unit price was ¥2.305 million, up 11.3% versus the prior survey. [F-002][F-003] Used condos rose in parallel: LIFULL reported the Tokyo 23-ward family-type used-condo inquiry price at ¥100.21 million, above ¥100 million for the first time; [F-004] at home reported the Greater Tokyo used-condo average at ¥57.64 million per unit, up for a 22nd consecutive month; [F-005] Mercury reported Minato's used per-tsubo price at ¥14.474 million (as of September 2025). [F-006] But each firm's metric (listing / inquiry / registered-asking / per-tsubo) is not a transaction price and must not be conflated; after the Bank of Japan lifted the policy rate to 1.0% in June 2026, liquidity in the central 5 wards declined first and the market bifurcated. [F-007]

Main Text

Trigger: Chiyoda in the ¥300-Million Range, ¥100M-Plus Spreads to 19 Wards

The source of this chain is a new-build number pushed up by construction costs. Per a survey released by Kabushiki Kaisha LIFULL (TSE Prime: 2120), operator of the real-estate information service LIFULL HOME'S (listings posted January–May 2026, the 4th edition since 2023), Chiyoda's average price among Tokyo 23-ward new condominiums reached ¥351.5 million, the only one of the 23 wards in the ¥300-million range; Chiyoda's per-square-meter unit price of ¥4.279 million was also the only one in the 23 wards above ¥4 million, the "top price band," and its per-tsubo unit price was ¥14.157 million (AINews #1176435). [F-001]

Across all wards, those with an average above ¥100 million spread in the 2026 survey to 19 of the 23 wards (about 80%); of these, Sumida, Arakawa, Itabashi, and Adachi (4 wards) broke ¥100 million for the first time since the survey began, with 6 wards in the ¥200-million range and 1 ward in the ¥300-million range (7 wards above ¥200 million in total) (AINews #1176435). [F-002] The Tokyo 23-ward overall per-sqm unit price was ¥2.305 million, up 11.3% versus the prior survey (i.e., 111.3% of the prior survey); 18 wards (about 80%) saw their per-sqm price climb, with the steepest rises in Sumida at 174.9%, Meguro at 151.0%, and Bunkyo at 141.1% versus the prior survey, and the number of wards with a per-tsubo price above ¥10 million widened to 5. The Tokyo 23-ward overall average price was ¥168.84 million (AINews #1176435). [F-003] An honest scope note: all of the above are LIFULL HOME'S listing-price averages — advertised asking prices, not transaction prices — and are company-survey PR figures, not government official statistics.

Spillover 1 (Used Inquiry Prices): The 23-Ward Family-Type Used "Inquiry Price" Tops ¥100 Million for the First Time

As new builds set records, buyers' bids in the used market also crossed a symbolic threshold. Per LIFULL HOME'S "Market Report, May 2026 (Price Trends)," the inquiry price (the price of properties buyers inquired about to agents) for Tokyo 23-ward family-type (2DK and larger) used condominiums was ¥100.21 million (113.7% month-on-month, 150.6% year-on-year), topping ¥100 million for the first time and setting a record high; the listing price for family-type used condos in the same month was ¥116.94 million (98.3% month-on-month, 132.2% year-on-year), on a downward trend after peaking in March (AINews #682048). [F-004] Two scopes must be separated: the inquiry price is the price buyers asked about, the listing price is the seller's posted registration price; neither is a transaction price, and they can even diverge (inquiry price at a record high, listing price pulling back).

Spillover 2 (Greater Tokyo Used): Up for a 22nd Straight Month, but the 23-Ward Monthly Gain Cools

Widening the lens to Greater Tokyo, the durability of the trend is clearer. Per at home Co., Ltd.'s "Greater Tokyo Used Condominium Price Trends (May 2026)" (analysis commissioned to at home Lab), the average price per unit for Greater Tokyo used condominiums was ¥57.64 million, rising both month-on-month and year-on-year for a 22nd consecutive month, and exceeding the prior year for a 13th consecutive month across all areas (AINews #1190080). [F-005] Tokyo, Kanagawa (Yokohama/Kawasaki), Saitama, and Chiba's western district further set their highest prices since January 2017. But a slowdown signal has appeared: the Tokyo 23-ward month-on-month gain slipped below 1%, ending a streak of monthly gains above 1% that had run since August 2024. Note: the "price" here is at home's "average registered price per unit (seller's asking price)," not a transaction price.

Spillover 3 (Central Per-Tsubo Prices): Minato at ¥14.474 Million, Rising at Speed

Zooming in on the three priciest wards, the steepness stands out. Per an independent survey by the real-estate big-data firm Mercury (株式会社マーキュリー, securities code 5025) using Realnet used-distribution data, the average per-tsubo price for used condominiums in the central 3 wards (Chiyoda, Minato, Shibuya) stood, as of September 2025, at ¥14.474 million for Minato (about ¥4.38 million per square meter) and ¥13.013 million for Chiyoda (about ¥3.93 million per square meter); against ¥9-million levels as of October 2024 for all three wards, the climb has been rapid (AINews #918426). [F-006] Note: this is a per-tsubo snapshot estimated by Mercury from used-distribution data (as of September 2025), not a transaction price, and it uses a different statistical unit (per-tsubo vs. per-unit) from the firms' "average price per unit," so it cannot be compared directly.

Turning Point (Policy Rate): Bifurcation Under 1.0%

Placed in its interest-rate context, the picture is no longer just "up." Per an analysis by Mansion Research Co., Ltd. (Fukushima Soken), the Bank of Japan lifted the policy rate to 1.0% in June 2026, and the Tokyo 23-ward used-condominium market is bifurcating: the central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya), where high-priced stock concentrates, had already seen time-on-market lengthen and price-cut frequency rise from the 0.25% policy rate (mid-2024) onward; the 23 wards overall, meanwhile, saw the share of price-cut listings increase from the 0.75% policy rate (end-2025) onward, yet liquidity remains at historically high levels (AINews #1131652). [F-007] Note: lifting the policy rate to 1.0% is a BOJ-announced fact, but the "market bifurcation" is Mansion Research's analysis using two liquidity indicators — time-on-market and number of price cuts — and is neither confirmed statistics nor transaction data.

One Tokyo Condominium Cycle Landing on Many Sides

Read together, these reports are not scattered individual items but one Tokyo condominium cycle landing on different sides:

The demand source is construction-cost push (materials, labor, land prices, energy-efficiency mandates) plus a low-rate environment, and the dividend landed simultaneously along four lines — new build, used inquiry, Greater Tokyo used, and central per-tsubo — but each firm's scope differs, none is a transaction price, and the 1.0% policy rate has already cast a liquidity shadow over the central high-priced segment.

Risk Factors

FAQ

Q: How far did Tokyo 23-ward new condominiums climb in 2026?

Chiyoda's average reached ¥351.5 million, the only ward in the ¥300-million range; wards with an average above ¥100 million spread to 19 (about 80%), with Sumida, Arakawa, Itabashi, and Adachi breaking it for the first time, and the Tokyo 23-ward overall per-sqm unit price was ¥2.305 million, up 11.3% versus the prior survey.

Per a LIFULL HOME'S survey (listings posted January–May 2026, the 4th edition since 2023), Chiyoda's per-sqm unit price of ¥4.279 million was the only one above ¥4 million, the top price band; among the 23 wards, 19 had an average above ¥100 million and 7 were above ¥200 million. These are all listing-price averages (advertised asking prices), not transaction prices, and are company-survey PR figures (AINews #1176435).

Q: With new builds at records, are used condos rising too?

Yes. LIFULL reported the Tokyo 23-ward family-type used-condo inquiry price at ¥100.21 million, above ¥100 million for the first time and a record high; at home reported the Greater Tokyo used-condo average at ¥57.64 million per unit, up for a 22nd consecutive month; and Mercury reported Minato's used per-tsubo price at ¥14.474 million (as of September 2025).

The used market moved up in parallel, but note: LIFULL's "inquiry price" is the buyer's inquiry price and its "listing price" is the seller's posted price (the same month's 23-ward family-type listing price of ¥116.94 million pulled back after a March 2026 peak); at home's "price" is the registered-asking price; and Mercury's is a per-tsubo snapshot. The three differ in unit and definition (AINews #682048, #1190080, #918426).

Q: Can these price figures be compared directly on the same basis?

No. LIFULL HOME'S gives listing-price averages and used inquiry prices, at home gives a registered-asking price per unit, and Mercury gives a used-distribution per-tsubo snapshot; the four differ in survey institution, scope, and unit, none is a transaction price, and they must not be summed into a single rate of increase.

Specifically: the 19 wards and Chiyoda's ¥351.5 million for new builds are LIFULL's "listing-price average"; the used inquiry price of ¥100.21 million is LIFULL's "buyer inquiry price"; the Greater Tokyo ¥57.64 million is at home's "seller registered-asking price"; and Minato's ¥14.474 million is Mercury's "per-tsubo price" (per-unit vs. per-tsubo also cannot be converted for comparison). When citing, label the source and scope for each (AINews #1176435, #682048, #1190080, #918426).

Q: After the policy rate rose to 1.0%, how is the Tokyo used market changing?

Per a Mansion Research (Fukushima Soken) analysis, after the Bank of Japan raised the policy rate to 1.0% in June 2026 the market bifurcated: the central 5 wards saw time-on-market lengthen and price cuts rise from the 0.25% policy rate (mid-2024); the 23 wards overall saw more price-cut listings from the 0.75% policy rate (end-2025), yet liquidity remains at historically high levels.

In other words, the central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya) and the bay area, where high-priced stock concentrates, cooled first under the 1.0% policy rate, while the 23 wards overall are still in "normalization at high levels" rather than a broad decline. To distinguish: the 1.0% policy rate is a BOJ-announced fact, while the "bifurcation" is an analysis from time-on-market and price-cut counts, not transaction statistics (AINews #1131652).

Q: Roughly how high are the central three wards' used per-tsubo prices?

Per an independent Mercury (株式会社マーキュリー) survey, as of September 2025 Minato's average used per-tsubo price was ¥14.474 million (about ¥4.38 million per square meter) and Chiyoda's was ¥13.013 million (about ¥3.93 million per square meter); against ¥9-million levels for all three wards as of October 2024, the climb has been rapid.

This is a per-tsubo snapshot Mercury estimated from Realnet used-distribution data, covering the three wards of Chiyoda, Minato, and Shibuya — not a transaction price and not the latest value (as of September 2025). The per-tsubo price uses a different statistical unit from other sources' "average price per unit" and cannot be compared directly (AINews #918426).

F-Units

F-001: Tokyo 23-ward new condominiums — Chiyoda's average price of ¥351.5 million is the only ward in the ¥300-million range, its per-sqm unit price ¥4.279 million the only one above ¥4 million (top price band), and its per-tsubo unit price ¥14.157 million (LIFULL HOME'S, listings posted January–May 2026) - source: AINews #1176435 - source_url: https://prtimes.jp/main/html/rd/p/000000879.000033058.html - basis: official_statement - confidence: high - period: listings posted January–May 2026 - caveat: LIFULL HOME'S (Kabushiki Kaisha LIFULL) listing-price averages (advertised asking prices, not transaction prices); company-survey PR figures, not government official statistics

F-002: Wards with an average above ¥100 million spread to 19 of the Tokyo 23 wards (about 80%); Sumida, Arakawa, Itabashi, and Adachi (4 wards) broke ¥100 million for the first time; 6 wards in the ¥200-million range and 1 in the ¥300-million range (7 wards above ¥200 million in total) (LIFULL HOME'S) - source: AINews #1176435 - source_url: https://prtimes.jp/main/html/rd/p/000000879.000033058.html - basis: official_statement - confidence: high - period: listings posted January–May 2026 - caveat: ward-level distribution of LIFULL HOME'S listing-price averages (not transaction prices); about 80% is the share of 19 of the 23 wards

F-003: Tokyo 23-ward new-condominium overall per-sqm unit price ¥2.305 million, up 11.3% versus the prior survey (111.3% of it); 18 wards (about 80%) saw per-sqm prices rise, with the steepest at Sumida 174.9%, Meguro 151.0%, and Bunkyo 141.1%, and the number of wards with a per-tsubo price above ¥10 million widened to 5; Tokyo 23-ward overall average ¥168.84 million (LIFULL HOME'S) - source: AINews #1176435 - source_url: https://prtimes.jp/main/html/rd/p/000000879.000033058.html - basis: official_statement - confidence: high - period: listings posted January–May 2026 - caveat: the change is versus the prior survey (January–May 2025); >100% means a rise; listing-price averages (not transaction prices). The source's analyst-comment section states the 23-ward overall average as ¥166.84 million while the data table states ¥168.84 million; this card adopts the data-table value of ¥168.84 million

F-004: Tokyo 23-ward family-type used-condo inquiry price ¥100.21 million (113.7% month-on-month, 150.6% year-on-year) topped ¥100 million for the first time and set a record; the same month's family-type used listing price ¥116.94 million (98.3% month-on-month, 132.2% year-on-year) is on a downward trend after a March peak (LIFULL HOME'S Market Report) - source: AINews #682048 - source_url: https://prtimes.jp/main/html/rd/p/000000872.000033058.html - basis: official_statement - confidence: high - period: May 2026 - caveat: the inquiry price is the price buyers asked about and the listing price is the seller's posted registration price; neither is a transaction price and they can diverge; LIFULL HOME'S Market Report PR figures

F-005: Greater Tokyo used-condo average price ¥57.64 million per unit, rising both month-on-month and year-on-year for a 22nd consecutive month, exceeding the prior year for a 13th consecutive month across all areas, with the Tokyo 23-ward month-on-month gain slipping below 1% (at home) - source: AINews #1190080 - source_url: https://prtimes.jp/main/html/rd/p/000000731.000051123.html - basis: official_statement - confidence: high - period: May 2026 - caveat: at home's "average registered price per unit (seller's asking price)," not a transaction price; Tokyo, Kanagawa, Saitama, and Chiba's western district set highs since January 2017; PR figures

F-006: Central-Tokyo 3-ward (Chiyoda, Minato, Shibuya) used-condo average per-tsubo price — as of September 2025, Minato ¥14.474 million (about ¥4.38 million per square meter) and Chiyoda ¥13.013 million (about ¥3.93 million per square meter), rising rapidly from ¥9-million levels as of October 2024 (Mercury / 株式会社マーキュリー) - source: AINews #918426 - source_url: https://prtimes.jp/main/html/rd/p/000000341.000018769.html - basis: official_statement - confidence: medium - period: as of September 2025 - caveat: a per-tsubo snapshot Mercury (securities code 5025) estimated from Realnet used-distribution data (as of September 2025, not a transaction price and not the latest); per-tsubo uses a different statistical unit from other sources' per-unit figures and is not comparable

F-007: The Bank of Japan raised the policy rate to 1.0% in June 2026; the Tokyo 23-ward used-condo market is bifurcating — the central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya) saw time-on-market lengthen and price cuts rise from the 0.25% policy rate (mid-2024), while the 23 wards overall saw more price-cut listings from the 0.75% policy rate (end-2025) yet liquidity stays at historically high levels (Mansion Research / Fukushima Soken) - source: AINews #1131652 - source_url: https://prtimes.jp/main/html/rd/p/000000224.000013438.html - basis: official_statement - confidence: medium - period: June 2026 - caveat: lifting the policy rate to 1.0% is a BOJ-announced fact; the "market bifurcation" is Mansion Research's (Fukushima Soken) analysis using time-on-market and price-cut counts, and is neither confirmed statistics nor transaction data

J-Units

J-001: The 2026 Tokyo condominium market is normalizing the ¥100-million price — on the new-build side, wards with an average above ¥100 million spread to 19 (about 80%) and Chiyoda reached the ¥300-million range; on the used side, the 23-ward family-type inquiry price topped ¥100 million for the first time and Greater Tokyo used condos rose for a 22nd consecutive month. The main axis of the rise is construction-cost push (materials / labor / land prices / energy-efficiency mandates) plus a low-rate environment, not simple demand overheating - confidence: medium - basis_f_units: F-001, F-002, F-004, F-005

J-002: Although the firms' numbers point in the same upward direction, their scopes differ and cannot be summed across the board — LIFULL HOME'S gives listing-price averages and used inquiry prices, at home gives a registered-asking price per unit, and Mercury gives a used-distribution per-tsubo snapshot; the four are all non-transaction prices, and per-unit and per-tsubo are different statistical units; when citing, label source, scope, and point-in-time for each - confidence: high - basis_f_units: F-003, F-004, F-005, F-006

J-003: The policy rate reaching 1.0% is pushing the market toward bifurcation — the central 5 wards and the bay area saw liquidity decline first (longer time-on-market, more price cuts) from mid-2024 (the 0.25% policy rate), while the 23 wards overall saw more price-cut listings from end-2025 (the 0.75% policy rate) yet remain highly liquid; record highs and falling liquidity advance together in a phase of normalization at high levels, not a broad decline - confidence: medium - basis_f_units: F-005, F-006, F-007

P-Units

P-001: The depth of adjustment in the central high-priced segment after the policy rate reaches 1.0% — whether the rising share of price-cut listings stays a "high-level slowdown" or turns into a "decline" must be observed continuously through time-on-market and price-cut-count data - status: open

P-002: Whether the new-build "¥100M-plus in 19 wards" expands further or peaks — this hinges on the persistence of the four construction-cost factors (weak-yen materials / labor / land prices / energy-efficiency mandates), so future LIFULL HOME'S surveys should be tracked - status: open

P-003: The gap between each firm's scope (listing / inquiry / registered-asking / per-tsubo price) and actual transaction prices — how far inquiry and asking prices lead or overshoot transaction prices must be verified with transaction-based data - status: open

Three Perspectives on the Same Event / 同事件・三視角 / 同一イベント・三つの視点

Internal Citation Chain

Published ANK-Docs cited in this article: - ANK-2026-06-23-001 (Japan's housing hits record highs across the board in 2026 × BOJ rate hike) → This article shares with it the axis of "2026 Japan housing surge × BOJ policy rate at 1.0%" and cites the same LIFULL HOME'S (#1176435) Tokyo 23-ward new-condominium survey; whereas that card enters from the macro side ("new condominiums / new detached houses / used condos all at record highs + BOJ rate hike + Taiwan comparison"), this article drills into the single property type of condominiums, adding four used-side threads — the used inquiry price topping ¥100 million for the first time, Greater Tokyo used condos rising for a 22nd consecutive month, central per-tsubo prices, and bifurcation under a 1.0% policy rate — and separating each firm's scope individually, forming a "macro record-highs ↔ condo used-market deep dive" complement.

Sources

1. [AINews #1176435] PR TIMES (Kabushiki Kaisha LIFULL), "LIFULL HOME'S Tokyo 23-Ward New Condominium Average Prices: ¥100M-Plus Spreads to 19 Wards", 2026-06-23. https://prtimes.jp/main/html/rd/p/000000879.000033058.html 2. [AINews #682048] PR TIMES (Kabushiki Kaisha LIFULL), "LIFULL HOME'S Market Report May 2026 (Price Trends): 23-Ward Family-Type Used Inquiry Price Tops ¥100 Million", 2026-06-04. https://prtimes.jp/main/html/rd/p/000000872.000033058.html 3. [AINews #1190080] PR TIMES (at home Co., Ltd.), "Greater Tokyo Used Condominium Price Trends (May 2026): ¥57.64 Million Per Unit, Up for a 22nd Consecutive Month", 2026-06-24. https://prtimes.jp/main/html/rd/p/000000731.000051123.html 4. [AINews #918426] PR TIMES (Kabushiki Kaisha Mercury), "Independent Survey of Central-Tokyo 3-Ward Used Condominium Per-Tsubo Prices: Minato ¥14.474 Million", 2026-06-11. https://prtimes.jp/main/html/rd/p/000000341.000018769.html 5. [AINews #1131652] PR TIMES (Mansion Research Co., Ltd. / Fukushima Soken), "Bifurcation in the Tokyo Used Condominium Market Under a 1.0% Policy Rate", 2026-06-19. https://prtimes.jp/main/html/rd/p/000000224.000013438.html 6. [ANK-2026-06-23-001] Rin Takenouchi, "Japan's Housing Market Hits Record Highs Across the Board × BOJ Rate Hike", 2026-06-23. https://ainews.washinmura.jp/ainews/en/ank/ANK-2026-06-23-001

📊 引用級事實單元（F-Units）

Tokyo 23-ward new condominiums — Chiyoda's average price of ¥351.5 million is the only ward in the ¥300-million range, its per-sqm unit price ¥4.279 million the only one above ¥4 million (top price band), and its per-tsubo unit price ¥14.157 million (LIFULL HOME'S, listings posted January–May 2026)
F-001 · Confidence: high · Basis: official_statement AINews #1176435 listings posted January–May 2026
Wards with an average above ¥100 million spread to 19 of the Tokyo 23 wards (about 80%); Sumida, Arakawa, Itabashi, and Adachi (4 wards) broke ¥100 million for the first time; 6 wards in the ¥200-million range and 1 in the ¥300-million range (7 wards above ¥200 million in total) (LIFULL HOME'S)
F-002 · Confidence: high · Basis: official_statement AINews #1176435 listings posted January–May 2026
Tokyo 23-ward new-condominium overall per-sqm unit price ¥2.305 million, up 11.3% versus the prior survey (111.3% of it); 18 wards (about 80%) saw per-sqm prices rise, with the steepest at Sumida 174.9%, Meguro 151.0%, and Bunkyo 141.1%, and the number of wards with a per-tsubo price above ¥10 million widened to 5; Tokyo 23-ward overall average ¥168.84 million (LIFULL HOME'S)
F-003 · Confidence: high · Basis: official_statement AINews #1176435 listings posted January–May 2026
Tokyo 23-ward family-type used-condo inquiry price ¥100.21 million (113.7% month-on-month, 150.6% year-on-year) topped ¥100 million for the first time and set a record; the same month's family-type used listing price ¥116.94 million (98.3% month-on-month, 132.2% year-on-year) is on a downward trend after a March peak (LIFULL HOME'S Market Report)
F-004 · Confidence: high · Basis: official_statement AINews #682048 May 2026
Greater Tokyo used-condo average price ¥57.64 million per unit, rising both month-on-month and year-on-year for a 22nd consecutive month, exceeding the prior year for a 13th consecutive month across all areas, with the Tokyo 23-ward month-on-month gain slipping below 1% (at home)
F-005 · Confidence: high · Basis: official_statement AINews #1190080 May 2026
Central-Tokyo 3-ward (Chiyoda, Minato, Shibuya) used-condo average per-tsubo price — as of September 2025, Minato ¥14.474 million (about ¥4.38 million per square meter) and Chiyoda ¥13.013 million (about ¥3.93 million per square meter), rising rapidly from ¥9-million levels as of October 2024 (Mercury / 株式会社マーキュリー)
F-006 · Confidence: medium · Basis: official_statement AINews #918426 as of September 2025
The Bank of Japan raised the policy rate to 1.0% in June 2026; the Tokyo 23-ward used-condo market is bifurcating — the central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya) saw time-on-market lengthen and price cuts rise from the 0.25% policy rate (mid-2024), while the 23 wards overall saw more price-cut listings from the 0.75% policy rate (end-2025) yet liquidity stays at historically high levels (Mansion Research / Fukushima Soken)
F-007 · Confidence: medium · Basis: official_statement AINews #1131652 June 2026

❓ FAQ

How far did Tokyo 23-ward new condominiums climb in 2026?

Chiyoda's average reached ¥351.5 million, the only ward in the ¥300-million range; wards with an average above ¥100 million spread to 19 (about 80%), with Sumida, Arakawa, Itabashi, and Adachi breaking it for the first time, and the Tokyo 23-ward overall per-sqm unit price was ¥2.305 million, up 11.3% versus the prior survey. Per a LIFULL HOME'S survey (listings posted January–May 2026, the 4th edition since 2023), Chiyoda's per-sqm unit price of ¥4.279 million was the only one above ¥4 million, the top price band; among the 23 wards, 19 had an average above ¥100 million and 7 were above ¥200 million. These are all listing-price averages (advertised asking prices), not transaction prices, and are company-survey PR figures (AINews #1176435).

With new builds at records, are used condos rising too?

Yes. LIFULL reported the Tokyo 23-ward family-type used-condo inquiry price at ¥100.21 million, above ¥100 million for the first time and a record high; at home reported the Greater Tokyo used-condo average at ¥57.64 million per unit, up for a 22nd consecutive month; and Mercury reported Minato's used per-tsubo price at ¥14.474 million (as of September 2025). The used market moved up in parallel, but note: LIFULL's "inquiry price" is the buyer's inquiry price and its "listing price" is the seller's posted price (the same month's 23-ward family-type listing price of ¥116.94 million pulled back after a March 2026 peak); at home's "price" is the registered-asking price; and Mercury's is a per-tsubo snapshot. The three differ in unit and definition (AINews #682048, #1190080, #918426).

Can these price figures be compared directly on the same basis?

No. LIFULL HOME'S gives listing-price averages and used inquiry prices, at home gives a registered-asking price per unit, and Mercury gives a used-distribution per-tsubo snapshot; the four differ in survey institution, scope, and unit, none is a transaction price, and they must not be summed into a single rate of increase. Specifically: the 19 wards and Chiyoda's ¥351.5 million for new builds are LIFULL's "listing-price average"; the used inquiry price of ¥100.21 million is LIFULL's "buyer inquiry price"; the Greater Tokyo ¥57.64 million is at home's "seller registered-asking price"; and Minato's ¥14.474 million is Mercury's "per-tsubo price" (per-unit vs. per-tsubo also cannot be converted for comparison). When citing, label the source and scope for each (AINews #1176435, #682048, #1190080, #918426).

After the policy rate rose to 1.0%, how is the Tokyo used market changing?

Per a Mansion Research (Fukushima Soken) analysis, after the Bank of Japan raised the policy rate to 1.0% in June 2026 the market bifurcated: the central 5 wards saw time-on-market lengthen and price cuts rise from the 0.25% policy rate (mid-2024); the 23 wards overall saw more price-cut listings from the 0.75% policy rate (end-2025), yet liquidity remains at historically high levels. In other words, the central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya) and the bay area, where high-priced stock concentrates, cooled first under the 1.0% policy rate, while the 23 wards overall are still in "normalization at high levels" rather than a broad decline. To distinguish: the 1.0% policy rate is a BOJ-announced fact, while the "bifurcation" is an analysis from time-on-market and price-cut counts, not transaction statistics (AINews #1131652).

Roughly how high are the central three wards' used per-tsubo prices?

Per an independent Mercury (株式会社マーキュリー) survey, as of September 2025 Minato's average used per-tsubo price was ¥14.474 million (about ¥4.38 million per square meter) and Chiyoda's was ¥13.013 million (about ¥3.93 million per square meter); against ¥9-million levels for all three wards as of October 2024, the climb has been rapid. This is a per-tsubo snapshot Mercury estimated from Realnet used-distribution data, covering the three wards of Chiyoda, Minato, and Shibuya — not a transaction price and not the latest value (as of September 2025). The per-tsubo price uses a different statistical unit from other sources' "average price per unit" and cannot be compared directly (AINews #918426). ---

🧠 編輯判斷（J-Units）

The 2026 Tokyo condominium market is normalizing the ¥100-million price — on the new-build side, wards with an average above ¥100 million spread to 19 (about 80%) and Chiyoda reached the ¥300-million range; on the used side, the 23-ward family-type inquiry price topped ¥100 million for the first time and Greater Tokyo used condos rose for a 22nd consecutive month. The main axis of the rise is construction-cost push (materials / labor / land prices / energy-efficiency mandates) plus a low-rate environment, not simple demand overheating
Confidence: medium · Based on: F-001, F-002, F-004, F-005
Although the firms' numbers point in the same upward direction, their scopes differ and cannot be summed across the board — LIFULL HOME'S gives listing-price averages and used inquiry prices, at home gives a registered-asking price per unit, and Mercury gives a used-distribution per-tsubo snapshot; the four are all non-transaction prices, and per-unit and per-tsubo are different statistical units; when citing, label source, scope, and point-in-time for each
Confidence: high · Based on: F-003, F-004, F-005, F-006
The policy rate reaching 1.0% is pushing the market toward bifurcation — the central 5 wards and the bay area saw liquidity decline first (longer time-on-market, more price cuts) from mid-2024 (the 0.25% policy rate), while the 23 wards overall saw more price-cut listings from end-2025 (the 0.75% policy rate) yet remain highly liquid; record highs and falling liquidity advance together in a phase of normalization at high levels, not a broad decline
Confidence: medium · Based on: F-005, F-006, F-007

🔮 待驗證假設（P-Units）

The depth of adjustment in the central high-priced segment after the policy rate reaches 1.0% — whether the rising share of price-cut listings stays a "high-level slowdown" or turns into a "decline" must be observed continuously through time-on-market and price-cut-count data
Status: open
Whether the new-build "¥100M-plus in 19 wards" expands further or peaks — this hinges on the persistence of the four construction-cost factors (weak-yen materials / labor / land prices / energy-efficiency mandates), so future LIFULL HOME'S surveys should be tracked
Status: open
The gap between each firm's scope (listing / inquiry / registered-asking / per-tsubo price) and actual transaction prices — how far inquiry and asking prices lead or overshoot transaction prices must be verified with transaction-based data
Status: open

Verification Record

Editorial selection, human-supervised — Takenouchi Rin (Editor-in-Chief)

Cross-verified by multiple AI models.

Related Analyses