On February 10, the East Japan Real Estate Distribution Organization announced the trends of the real estate distribution market in the Tokyo metropolitan area for February 2025.
In February, the number of contracts for pre-owned (existing) condominiums in the Tokyo metropolitan area reached 4,152, marking a 23.9% increase from the same month last year. This represents the fourth consecutive month of growth and the second consecutive month of double-digit increases. By prefecture, Tokyo saw 2,304 contracts (up 29.4% year-on-year), Saitama Prefecture had 405 contracts (up 22.0% year-on-year), Chiba Prefecture recorded 445 contracts (up 5.2% year-on-year), and Kanagawa Prefecture had 951 contracts (up 24.5% year-on-year). Tokyo's wards, known for their high occupancy rates, led the trend with 1,899 contracts (up 31.1% year-on-year), showing an increase of over 30%.
The average contract price per square meter was 791,400 yen (up 4.8% year-on-year), marking the 58th consecutive month of increases since May 2020. The average contract price per unit was 49.85 million yen (up 2.6% year-on-year), also increasing for the fourth consecutive month. The average occupancy area was 62.99 square meters (down 2.1% year-on-year). The average age of the buildings was 26.04 years, an increase of 2.84 years from the same month last year.
The number of new registrations was 15,507 (down 7.3% year-on-year), marking the 12th consecutive month of decline. The inventory count was 45,214 (down 5.1% year-on-year), which was lower than the same month of the previous year for the 10th consecutive month.
Contracts for existing detached houses saw a significant increase to 1,690 (up 44.8% year-on-year), marking the fourth consecutive month of growth. By region, Kanagawa Prefecture saw an increase of about 60%, and Chiba Prefecture saw an increase of over 50%, indicating significant growth in each prefecture. The average contract price remained relatively stable at 39.2 million yen (up 0.6% year-on-year).
Real Estate Distribution Research Institute Co., Ltd. "R.E.port"
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