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Condominium Market

Rising Inventory and Listing Reductions for Recently Built Central-Tokyo Homes: Review Without Assuming a High-Price Sale

Mansion Research Co., Ltd.'s announcement says that existing-condominium transactions in the Tokyo metropolitan area declined year on year for a sixth consecutive month, while inventory growth was pronounced among homes built since 2006 in five central wards. This site's Tokyo 23-ward tower-condominium aggregation shows a median sale-listing price of JPY 7.849 million per tsubo and a median asking rent of JPY 20,063 per tsubo per month, with 296 sale-listing reductions and 3 increases. Owners should assess assumptions about a high-price sale separately from actual sale and rental listing trends.

Source announcement

Source announcement:Company announcement・PR TIMES（企業の発表）（2026-10-17） Open announcement

AI drafted this article from the source announcement and this site's data. Citations and figures were checked, with a separate AI call used for cross-checking. Verifiable facts are presented separately from conditional analysis, but these checks do not guarantee accuracy. This is neither a guarantee of future prices or returns nor a recommendation to buy or sell.

What the Source Confirms

Announcement: Fewer Transactions and Inventory Concentrated in Recently Built Central-Tokyo Homes

Based on a monthly report from the Real Estate Information Network for East Japan, Mansion Research Co., Ltd.'s announcement says that existing-condominium transactions in the Tokyo metropolitan area declined year on year for a sixth consecutive month. [1][2]

The materials say that Tokyo's inventory growth was concentrated in condominiums built in 2006 or later, and that inventory growth among recently built condominiums had become especially pronounced in five central wards. [3][4]

What the Source Confirms

Displayed Sale and Rental Data for Tower Condominiums in Tokyo's 23 Wards

According to this site's aggregation, 3,136 tower-condominium homes were listed for sale in Tokyo's 23 wards, with a median price of JPY 7.849 million per tsubo. Another 2,745 homes were listed for rent, with a median rent of JPY 20,063 per tsubo per month. [5][6]

Price revisions observed from 2026-10-11 through 2026-10-17 comprised 296 reductions and 3 increases among sale listings, and 211 reductions and 8 increases among rental listings. [7]

Conditional Analysis

Listing-Price Reductions and Owner-Occupier Purchasing Power

With 296 reductions and 3 increases among this site's sale-listing revisions, some sellers may be lowering asking prices. These are revisions at the listing stage, however, and do not directly show transaction prices or sale proceeds. [7]

The announcement notes that the five central wards contain many expensive condominiums and tower condominiums that attract strong interest from affluent domestic and overseas buyers and investors, and suggests that changes in investment and resale demand may contribute to rising inventory. If that view applies, weakening expectations of appreciation could extend the marketing period particularly for properties listed at high prices, making it important to check both days on market and the reduction rate. [8][9]

Conditional Analysis

Assessing Cash Flow in Light of Rent and Ownership Costs

For a rental strategy, this site's Tokyo 23-ward tower-condominium data shows a median rent of JPY 20,063 per tsubo per month and a median sale-listing price of JPY 7.849 million per tsubo. A yield cannot be inferred simply by comparing asking price and asking rent; the assessment changes when based on the remaining cash after estimated management fees, repair reserve contributions, loan repayments, property taxes, and property-management fees are deducted from rent adjusted for the assumed occupancy rate. [6][5][10]

Under this site's investment-index assumptions, a home is excluded rather than calculated with a JPY 0 cost when its listing does not state management fees or repair reserve contributions. The calculation also does not reflect interior condition, views, management quality, repair plans, or other factors that cannot be read from listings, so the cash flow of an individual home can be assessed only to the extent disclosed in the listing. [11][12]

Limitations & Points to Verify

Data Limitations and Additional Items to Check

Mansion Research Co., Ltd.'s materials also say that REINS transaction records do not fully represent all trading activity in the market. Fewer transactions and rising inventory among recently built homes therefore cannot be treated as establishing weaker demand across all tower condominiums. [13]

This site's sale and rental listings are not transaction cases, so asking prices and asking rents must not be confused with actual transaction terms. Future checks should cover liquidity indicators such as inventory, days on market, and reduction rates; whether weekly reductions and increases persist; and whether each home's listing states its management fees and repair reserve contributions. [9][7]

Sources and passages reviewed

Research and opinions belong to their respective publishers. Citations establish the basis of the analysis and do not guarantee future results.

  1. PR TIMES（企業の発表）
    東日本不動産流通機構（東日本レインズ）の月次レポート

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  2. PR TIMES（企業の発表）
    成約件数は前年同月比で6ヵ月連続の減少

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  3. PR TIMES（企業の発表）
    東京都の在庫増加は2006年以降築のマンションに集中

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  4. PR TIMES（企業の発表）
    都心5区（千代田区、中央区、港区、渋谷区、新宿区）では築浅マンションの在庫増加が一段と顕著に

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  5. TOWERS.SELECT Aggregation
    東京23区のタワーマンションのデータ：売出中の住戸は3,136戸で、坪単価の中央値は784.9万円/坪（2026-10-16時点、標本3,136戸）。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  6. TOWERS.SELECT Aggregation
    東京23区のタワーマンションのデータ：賃貸募集中の住戸は2,745戸で、坪賃料の中央値は20,063円/坪・月（2026-10-16時点、標本2,745戸）。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  7. TOWERS.SELECT Aggregation
    東京23区のタワーマンションのデータ：2026-10-11から2026-10-17までに確認した価格改定は、売買で値下げ296戸・値上げ3戸、賃貸で値下げ211戸・値上げ8戸。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  8. PR TIMES（企業の発表）
    都心5区には国内外の富裕層や投資家から高い関心を集める高額マンションやタワーマンションが数多く存在し

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  9. PR TIMES（企業の発表）
    在庫数、販売日数、値下げ率といった流動性を示す指標を併せて確認すること

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  10. Assumptions Behind TOWERS.SELECT's Investment Metrics
    想定の稼働率を反映した賃料から、管理費・修繕積立金・ローン返済・固定資産税等の概算・管理委託費を引いた月額。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  11. Assumptions Behind TOWERS.SELECT's Investment Metrics
    管理費や修繕積立金が掲載に書かれていない住戸は、0円として計算せず、対象から外している。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  12. Assumptions Behind TOWERS.SELECT's Investment Metrics
    室内の状態、眺望、管理の状況、修繕の計画など、掲載から読み取れない条件は反映していない。

    Collected and aggregated:2026-10-17 05:27 (Japan time)

  13. PR TIMES（企業の発表）
    市場全体の取引実態を完全に表しているわけではありません

    Collected and aggregated:2026-10-17 05:27 (Japan time)