Central 6 Wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya)¶
The central five wards plus Bunkyo, an established education district. Owner-occupier family demand overlaps with investment demand.
Current phase¶
Plateau (high prices, easing demand) (adjustment pressure 33 / 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 price gap to the three central wards and the trend in transaction counts.
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 | 136.4 | 1,318 |
| 2024 Q3 | 140.0 | 1,135 |
| 2024 Q4 | 144.4 | 1,169 |
| 2025 Q1 | 147.5 | 1,589 |
| 2025 Q2 | 158.2 | 1,578 |
| 2025 Q3 | 162.2 | 1,597 |
| 2025 Q4 | 165.2 | 1,584 |
| 2026 Q1 | 168.4 | 1,471 |
- Year-on-year change in median price per m²: +14.2% (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 | 1,498 | 2,900 | 108.0 | 25.0 | +8.0% |
| 1LDK | 1,602 | 7,700 | 163.6 | 45.0 | +15.4% |
| 2 rooms (2K-2LDK) | 2,061 | 13,000 | 200.0 | 65.0 | +25.0% |
| 3 rooms (3K-3LDK) | 1,033 | 16,000 | 200.0 | 80.0 | +15.4% |
| 4 rooms or more | 36 | 18,000 | 185.9 | 95.0 | +22.4% |
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 Q2 | 24,000 | 154 | 0.0% | 143.5 |
| 2025 Q3 | 27,000 | 165 | 0.0% | 200.0 |
| 2025 Q4 | 33,000 | 142 | 0.0% | 178.6 |
| 2026 Q1 | 46,000 | 51 | 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 | 3,035,000 | +6.7% | 270 |
| 2025 | Commercial | 3,500,000 | +12.7% | 267 |
| 2026 | Commercial | 4,180,000 | +13.8% | 266 |
| 2024 | Residential | 1,290,000 | +6.9% | 125 |
| 2025 | Residential | 1,450,000 | +11.6% | 121 |
| 2026 | Residential | 1,670,000 | +12.9% | 122 |
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.