Central 3 Wards (Chiyoda, Chuo, Minato)¶
Chiyoda, Chuo and Minato. The business and commercial core, with many high-priced tower condominiums bought for investment or inheritance-tax planning; the most expensive area in Japan.
Current phase¶
Declining (adjustment pressure 100 / 100, confidence low, as of 2026-08)
Adjustment pressure is our own score built from inventory, transaction counts, closing prices and the gap between asking and closing prices (0-20 overheating, 20-40 plateau, 40-60 early correction, 60-80 correction under way, 80-100 declining).
What to watch: The high-end segment feels rate rises first; rising inventory and falling transaction counts tend to show up here before elsewhere.
Resale condominium closing prices (MLIT)¶
Price per m² in units of ¥10,000 (万円). Quarters with fewer than 10 closings are not shown.
| Quarter | Median price per m² (¥10k) | Closings |
|---|---|---|
| 2024 Q2 | 146.4 | 704 |
| 2024 Q3 | 153.1 | 608 |
| 2024 Q4 | 166.7 | 614 |
| 2025 Q1 | 171.4 | 844 |
| 2025 Q2 | 184.6 | 845 |
| 2025 Q3 | 185.0 | 835 |
| 2025 Q4 | 187.5 | 811 |
| 2026 Q1 | 188.9 | 733 |
- Year-on-year change in median price per m²: +10.2% (2026 Q1)
By floor plan (resale condominiums, last 4 quarters)¶
2025 Q2 to 2026 Q1. Floor plans with fewer than 10 closings are not shown. "S" (service room) is not counted as a room.
| Floor plan | Closings | Median price (¥10k) | Median per m² (¥10k) | Median size (m²) | Per m², year on year |
|---|---|---|---|---|---|
| Studio / 1K / 1DK | 670 | 3,100 | 115.0 | 25.0 | +6.5% |
| 1LDK | 857 | 8,800 | 180.0 | 45.0 | +19.1% |
| 2 rooms (2K-2LDK) | 1,140 | 14,000 | 216.0 | 65.0 | +18.6% |
| 3 rooms (3K-3LDK) | 541 | 18,000 | 223.5 | 80.0 | +19.7% |
| 4 rooms or more | 16 | 18,500 | 194.7 | 95.0 | +10.4% |
Houses and land (MLIT)¶
Transaction prices from MLIT's survey of registered sales. Prices in ¥10,000. Quarters with fewer than 20 deals are not shown.
| Quarter | Median house price (¥10k) | House deals | Houses under ¥10m | Median land price per m² (¥10k) |
|---|---|---|---|---|
| 2025 Q1 | 46,000 | 61 | 0.0% | 291.7 |
| 2025 Q2 | 65,500 | 46 | 0.0% | — |
| 2025 Q3 | 58,500 | 50 | 0.0% | — |
| 2025 Q4 | 53,000 | 43 | 0.0% | — |
Official land prices (Chika Koji, MLIT)¶
Prices of standard sites as of 1 January each year (published in March). The change is the average for sites that continue from the previous year.
| Year | Use | Median (¥ per m²) | Change | Sites |
|---|---|---|---|---|
| 2024 | Commercial | 3,660,000 | +6.5% | 161 |
| 2025 | Commercial | 4,295,000 | +12.4% | 158 |
| 2026 | Commercial | 4,960,000 | +13.2% | 157 |
| 2024 | Residential | 1,945,000 | +7.1% | 46 |
| 2025 | Residential | 2,260,000 | +12.5% | 45 |
| 2026 | Residential | 2,520,000 | +14.8% | 46 |
This service uses the API of the MLIT Real Estate Information Library, but the timeliness, accuracy and completeness of the information provided are not guaranteed. (このサービスは、国土交通省不動産情報ライブラリのAPI機能を使用していますが、提供情報の最新性、正確性、完全性等が保証されたものではありません。)
Figures are medians of individual transactions and change with the mix of what sold. Regime labels are our own interpretation, not investment advice.