"I want it, but it's impossible now" - Buying sentiment drops to 33%, the lowest in the past year; lost motivation due to rising interest rates hits an all-time high
A survey by Sumai Surfin revealed that 72.3% of prospective condo buyers find prices too high. Buying sentiment fell to 33.0%, the lowest in a year, with about a third losing motivation due to rising interest rates, though 56.3% still expect prices to rise in 10 years.
📋 Article Processing Timeline
- 📰 Published: April 24, 2026 at 19:00
- 🔍 Collected: April 24, 2026 at 10:31
- 🤖 AI Analyzed: April 25, 2026 at 03:35 (17h 3m after Collected)
Sumai Surfin (https://www.sumai-surfin.com/ Operated by Style Act Co., Ltd., Chuo-ku, Tokyo, CEO: Yujin Oki), a real estate second opinion site with 330,000 members considering buying or selling condominiums, has conducted its 73rd regular awareness survey of prospective condo buyers.
This survey targeted only those among the 330,000 registered members of its website "Sumai Surfin" who have visited a sales center for new condominiums within the last three months, conducting a questionnaire on condo purchasing.
Our company compares the psychological trends of prospective condo buyers in a time series on a quarterly basis. For some survey results, we also publish details dividing the desired purchase area into the "Tokyo 23 Wards" and "Others." (The 1st survey was in April 2008; this is the 73rd).
■■ Summary ■■
- "Prices are too high" 72.3% — Nearly 3 out of 4 face a price barrier.
- Buying sentiment 33.0%, the lowest level in the past year — The buying time DI plummeted by 15.5 points from the previous survey.
- Approximately 1 in 3 had their motivation to purchase "decreased" due to rising interest rates — 97.3% are prepared for variable rates to rise.
- Still, the majority believe "prices will rise in 10 years" — Potential demand is quietly accumulating.
■■ Overview of Condominium Purchase Awareness Survey ■■
[Survey Target]
Among the 330,000 registered members of the "Sumai Surfin" website, those who have visited a new condominium sales center within the last 3 months.
[Survey Period and Number of Samples Collected]
65th: Apr 5-10, 2024 (245) | 66th: Jul 5-15, 2024 (188)
67th: Oct 7-15, 2024 (212) | 68th: Jan 10-21, 2025 (184)
69th: Apr 1-9, 2025 (236) | 70th: Jul 3-7, 2025 (223)
71th: Oct 2-5, 2025 (234) | 72th: Jan 7-12, 2026 (225)
73rd: Apr 1-6, 2026 (224)
[Survey Region] Nationwide
[Survey Method] In-house website "Sumai Surfin" (https://www.sumai-surfin.com/)
■■ Condominium Purchase Awareness Survey Results ■■
The results of this survey highlighted that anxiety about the future and expectations for the future coexist simultaneously among consumers considering purchasing a condominium.
Regarding current condominium prices, 72.3% responded that they feel prices are "so high that they hesitate to buy" or "so high that they give up." This reveals the reality that nearly three out of four people are forced to stall in the face of prices. This feeling is not temporary; the soaring prices of new and used condominiums, particularly in urban areas, are becoming established as a high barrier in front of purchasing motivation. While having the intention that "I want to buy someday," the segment of people who cannot take a step forward due to the reality of prices is steadily accumulating.
Adding insult to injury is the rise in mortgage interest rates. Since the Bank of Japan lifted its negative interest rate policy in March 2024, as mortgage interest rates continue to be raised in stages, the percentage of respondents who said their purchasing motivation "decreased" or "slightly decreased" reached 31.3%. The situation is such that about one in three hesitate to purchase due to rising interest rates.
The number of respondents who expect that "variable interest rates will rise in the future" reached 97.3%, revealing that almost everyone accepts additional interest rate hikes as a foregone conclusion. Considering not only prices staying high but also the future risk of increased loan repayments, the reasons holding them back from making a purchase are only piling up further. The severity of the housing acquisition environment may be said to be even more serious than the numbers show.
Against the backdrop of this heavy pressure from prices and rising interest rates, the segment that responded it is a "good time to buy" (sum of "good time to buy" + "somewhat good time to buy") was 33.0%. Continuing a downward trend from a peak of 44.8% recorded in July 2025, it has dropped to its lowest level in the past year.
The buying time DI (*), which indicates the strength or weakness of market sentiment, was 9.8 points, a sharp drop of 15.5 points from 25.3 points in the previous survey. It can be read that the psychological backlash behind this sharp drop is that prospective purchasers who were beginning to feel "they are finally getting used to high prices" are once again unable to take a step forward because the caution against the additional cost of rising interest rates has piled on top.
On the other hand, the bullish stance on future price outlooks stands out, with the proportion of respondents who believe "condominium prices will rise in 10 years" remaining in the majority at 56.3%. The background includes the continuation of domestic inflation and overseas circumstances.
This survey targeted only those among the 330,000 registered members of its website "Sumai Surfin" who have visited a sales center for new condominiums within the last three months, conducting a questionnaire on condo purchasing.
Our company compares the psychological trends of prospective condo buyers in a time series on a quarterly basis. For some survey results, we also publish details dividing the desired purchase area into the "Tokyo 23 Wards" and "Others." (The 1st survey was in April 2008; this is the 73rd).
■■ Summary ■■
- "Prices are too high" 72.3% — Nearly 3 out of 4 face a price barrier.
- Buying sentiment 33.0%, the lowest level in the past year — The buying time DI plummeted by 15.5 points from the previous survey.
- Approximately 1 in 3 had their motivation to purchase "decreased" due to rising interest rates — 97.3% are prepared for variable rates to rise.
- Still, the majority believe "prices will rise in 10 years" — Potential demand is quietly accumulating.
■■ Overview of Condominium Purchase Awareness Survey ■■
[Survey Target]
Among the 330,000 registered members of the "Sumai Surfin" website, those who have visited a new condominium sales center within the last 3 months.
[Survey Period and Number of Samples Collected]
65th: Apr 5-10, 2024 (245) | 66th: Jul 5-15, 2024 (188)
67th: Oct 7-15, 2024 (212) | 68th: Jan 10-21, 2025 (184)
69th: Apr 1-9, 2025 (236) | 70th: Jul 3-7, 2025 (223)
71th: Oct 2-5, 2025 (234) | 72th: Jan 7-12, 2026 (225)
73rd: Apr 1-6, 2026 (224)
[Survey Region] Nationwide
[Survey Method] In-house website "Sumai Surfin" (https://www.sumai-surfin.com/)
■■ Condominium Purchase Awareness Survey Results ■■
The results of this survey highlighted that anxiety about the future and expectations for the future coexist simultaneously among consumers considering purchasing a condominium.
Regarding current condominium prices, 72.3% responded that they feel prices are "so high that they hesitate to buy" or "so high that they give up." This reveals the reality that nearly three out of four people are forced to stall in the face of prices. This feeling is not temporary; the soaring prices of new and used condominiums, particularly in urban areas, are becoming established as a high barrier in front of purchasing motivation. While having the intention that "I want to buy someday," the segment of people who cannot take a step forward due to the reality of prices is steadily accumulating.
Adding insult to injury is the rise in mortgage interest rates. Since the Bank of Japan lifted its negative interest rate policy in March 2024, as mortgage interest rates continue to be raised in stages, the percentage of respondents who said their purchasing motivation "decreased" or "slightly decreased" reached 31.3%. The situation is such that about one in three hesitate to purchase due to rising interest rates.
The number of respondents who expect that "variable interest rates will rise in the future" reached 97.3%, revealing that almost everyone accepts additional interest rate hikes as a foregone conclusion. Considering not only prices staying high but also the future risk of increased loan repayments, the reasons holding them back from making a purchase are only piling up further. The severity of the housing acquisition environment may be said to be even more serious than the numbers show.
Against the backdrop of this heavy pressure from prices and rising interest rates, the segment that responded it is a "good time to buy" (sum of "good time to buy" + "somewhat good time to buy") was 33.0%. Continuing a downward trend from a peak of 44.8% recorded in July 2025, it has dropped to its lowest level in the past year.
The buying time DI (*), which indicates the strength or weakness of market sentiment, was 9.8 points, a sharp drop of 15.5 points from 25.3 points in the previous survey. It can be read that the psychological backlash behind this sharp drop is that prospective purchasers who were beginning to feel "they are finally getting used to high prices" are once again unable to take a step forward because the caution against the additional cost of rising interest rates has piled on top.
On the other hand, the bullish stance on future price outlooks stands out, with the proportion of respondents who believe "condominium prices will rise in 10 years" remaining in the majority at 56.3%. The background includes the continuation of domestic inflation and overseas circumstances.