The East Japan Real Estate Distribution Organization, a public interest incorporated foundation, has released its quarterly report summarizing trends in the real estate distribution market for the January to March 2025 period. According to the report, the used real estate market in the Tokyo metropolitan area saw active transactions, with the number of transactions increasing significantly compared to the same period last year.
In particular, the used condominium market in the Tokyo metropolitan area saw 12,385 transactions, a significant increase of 25.5% compared to the same period last year. The average transaction price per square meter also reached 79.81 million yen, marking a 5.3% increase from the same period last year and the 19th consecutive quarter of growth. The average transaction price also reached 50.11 million yen (a 3.4% increase from the same period last year), marking the 50th consecutive quarter of growth, indicating that prices for used apartments remain at high levels or continue to rise. By region, the Tokyo metropolitan area saw a 10.5% increase in the price per square meter, marking the 49th consecutive quarter of year-on-year growth, with particularly strong momentum observed. On the other hand, the average exclusive floor area of sold properties has decreased for four consecutive quarters, and the average age of buildings continues to increase.
The used single-family home market also saw an increase in the number of transactions, reaching 5,165 units, a 48.5% increase compared to the same period last year, marking the fifth consecutive quarter of growth. However, the transaction price stood at 39.33 million yen (a 0.8% decrease from the same period last year), remaining largely flat but falling below the previous year's level for the first time in 19 quarters. Land area and building area both saw slight increases from the same period last year. By region, only the Tokyo metropolitan area maintained an increase in transaction prices.
As a reference, the number of used condominium transactions in Sapporo City increased by 14.1%, marking six consecutive quarters of year-on-year growth. In Sendai City, the number of transactions decreased, but the price per square meter increased by 1.8%. For used single-family homes, Sapporo City saw a 16.2% increase in the number of transactions, but prices fell by 3.0%, while Sendai City saw decreases in both the number of transactions and prices.
The data indicates that the used real estate market in the Tokyo metropolitan area, particularly for apartments, continues to show strong purchasing demand and an upward price trend. Close monitoring of future market trends is necessary.
Reference materials: Quarterly Report Market Watch Summary Report January–March 2025
