~2026 Q1~ Tokyo Used Condominium Market Quarterly Report Released

Mansion Research Co., Ltd. (Headquarters: 5-2 Kanda Mitoshiro-cho, Chiyoda-ku, Tokyo; Representative Director and President: Riki Yamada) has released a quarterly report summarizing trends in the Tokyo 23 wards used condominium market from January to March 2026. This report utilizes data from "Mansion Navi," which holds data on 143,000 condominiums nationwide, to help understand long-term changes in the condominium market.

Background and Purpose of Report Publication

The Tokyo used condominium market continues to face a complex situation, making it difficult to grasp trends due to the intricate interplay of price range movements, regional differences, and changes in external factors such such as interest rates and construction costs.

In response to the growing need for objective information to understand the current state of the market, this report has been published, organizing key quarterly indicators and underlying factors.

The content is designed to be useful for a wide range of people as a reference for market understanding.

▼Report available here

[Latest] Tokyo Used Condominium Market Quarterly Report (January-March 2026)

https://t23m-navi.jp/magazine/news/2026q1-report/

Read the report

Key Points of This Survey

1. A clear adjustment phase in the used condominium market, indicated by increased inventory and rising price reduction rates in central Tokyo and high-priced segments.

2. A distinct "temperature difference" and polarization in the market, evident between the adjusting high-priced central Tokyo market and the resilient overall 23 wards market.

3. A structural shift accelerating from an era where "any property sells" to one where "only selected properties sell," driven by cautious buyers.

Survey Results

In the first quarter of 2026, the Tokyo 23 wards used condominium market confirmed a trend of polarization: "high-priced properties in central areas are in an adjustment phase," while "other areas remain robust."

The 2026 Q1 report identified the following structural changes:

• High-priced condominiums over 150 million yen

<"Unsold properties" becoming apparent due to increased inventory and prolonged price reductions>

While new and contract prices have stagnated, inventory prices have risen, indicating a situation where "expensive properties are not selling and remain on the market." A gap has emerged between sellers' expected prices and buyers' acceptable prices, leading to a noticeable increase in sales days and the number of price reductions.

• Central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya)

<Price reduction rate rises to a record high of 6.24%, entering an adjustment phase>

In the central 5 wards, which have previously driven price increases, the price reduction rate rose to its highest level since 2023. This suggests that it is not a temporary phenomenon, but rather that the market is entering a structural price correction phase.

• Tokyo 23 wards overall

<Maintaining liquidity, making the market's "temperature difference" clear>

In contrast to changes in central areas, the price reduction rate for the entire 23 wards remained stable at 5.53%. There were no significant changes in sales periods or the number of price reductions, highlighting a situation where the market has "two faces" and is not weak overall.

• Macro environment and buyer changes

<From uniform price increases to an "era of selection">

Against the backdrop of household budget pressure due to inflation and future uncertainties, buyers have come to prioritize calm judgment. As a result, the urgency to "buy now or it will get more expensive" has faded, shifting to a structure where "only selected properties" with comprehensive appeal, such as location and fair price, are sold.

See details of this survey below.

[Latest] Tokyo Used Condominium Market Quarterly Report (January-March 2026)

https://t23m-navi.jp/magazine/news/2026q1-report/

Read the report

Data provided by / Mansion Navi

We will continue to provide useful information and strengthen our support for condominium buying and selling.

Author Profile

Mansion Research Co., Ltd. Data Business Development Department, Real Estate Data Analysis Manager

Shinji Fukushima, Representative Researcher, Fukushima Soken

Fukushima Soken Link Collection: https://lit.link/fukushimasouken

Company Name: Mansion Research Co., Ltd.

Representative Director and President: Riki Yamada

Location: 2nd Nissei Building 5F, 5-2 Kanda Mitoshiro-cho, Chiyoda-ku, Tokyo

Date of Establishment: April 2011

Capital: 100 million yen

[Contact for this matter]

Mansion Research Co., Ltd. Sumikauru Editorial Department

TEL: 03-5577-2041

Mail: info@mansionresearch.co.jp

[Related Service URL]

Nationwide 143,000 Condominium Price Market Value Disclosure Site "Mansion Navi"

Utilizing daily updated data such as condominium transaction information, price trends, and market trends by area, we provide information useful for purchasing, selling, and understanding the asset value of condominiums.

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