Greater Tokyo Used Condo Sales Fall 8.6% in July as Inventory Rises

Transactions fall while supply builds

Used condominium transactions across Greater Tokyo totaled 3,638 in July, down 8.6% from a year earlier and marking a fourth consecutive year-on-year decline. Listings in inventory rose to 47,151 units, up 5.5%.

Closing prices remain below asking levels

The average transaction price was JPY52.67 million, down 0.7% year on year, while the average closing price per square meter fell 1.5% to JPY841,700. New listings averaged JPY68.34 million and inventory listings JPY68.66 million.

What buyers should watch

Growing inventory can improve selection and may create negotiating opportunities on individual properties. Overseas buyers should compare recent closed transactions, building age, management quality and long-term repair plans rather than relying solely on advertised prices.