Average asking prices rise 21.9% year on year
LIFULL released its August 2026 property-price report on September 8 using listings on the LIFULL HOME'S platform. The average asking price for family-type resale condominiums in Tokyo's 23 wards reached ¥120.18 million, up 1.4% from July and 21.9% from a year earlier, setting a record for the survey. Prices outside the 23 wards also reached a record ¥41.92 million. The figures reinforce the picture of elevated resale condominium valuations in and around Tokyo, meaning the acquisition cost for both domestic and overseas buyers has moved to a substantially higher level.
Inquiry prices tell a different part of the story
The average price of family-type properties in the 23 wards that actually generated user inquiries was ¥74.81 million. That figure was still 17.5% higher than a year earlier, but it was far below the overall average asking price. The gap should not be interpreted as a direct discount on the same properties because the listing pool and the inquiry-generating pool contain different homes. It nevertheless provides useful evidence about the price ranges attracting active buyer attention and shows why asking-price data alone cannot represent actual transaction demand.
Liquidity matters as much as headline prices
Tokyo condominiums remain accessible to international buyers, but rising prices make resale liquidity and exit strategy increasingly important. Overseas investors should compare asking prices with actual transaction records while also examining location, building age, floor area, management fees, reserve funds and rental demand. In a market setting new asking-price records, separating seller expectations, buyer inquiries and final transaction prices becomes essential when assessing whether a particular Tokyo property is competitively priced.