New condominium buyers averaged ¥64.43 million
MLIT's Housing Market Trend Survey, released July 17, found that average purchase or renovation funds were highest for custom-built homes at ¥76.46 million, followed by newly developed condominium housing at ¥64.43 million. The survey covers households that moved, rebuilt or renovated between April 2024 and March 2025 and examines financing and housing-selection behavior across custom homes, existing properties, new developments, private rentals and renovations. Among custom-home buyers, the most frequently cited source of dissatisfaction was that the price had exceeded expectations, highlighting the growing importance of acquisition budgets.
Overseas buyers should calculate the full acquisition cost
The survey averages do not represent a direct price benchmark for central Tokyo or luxury property, but they provide context for the capital required in Japan's housing market. Foreign residents and non-residents need to budget beyond the purchase price for brokerage fees, registration expenses, acquisition tax, property-tax settlements, management fees, reserve contributions and international transfer costs. Mortgage access may also differ from that available to domestic residents, potentially increasing the required equity contribution. Investment buyers should therefore calculate yields against the total cash committed rather than using the listing price alone. A property with an apparently attractive gross yield can look materially different once acquisition and recurring costs are included.