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Management and repairs

Bid-Rigging Reports, the Major-Repair Procurement Study Group, and Checks for Tower Owners

Reports covered bid rigging in major condominium repairs and a cease-and-desist order by the Japan Fair Trade Commission, while Smart Shuuzen Co., Ltd. disclosed that it was not subject to the measure. The Ministry of Land, Infrastructure, Transport and Tourism is convening a study group on proper procurement. With both asking-rent and sale-listing data available for central Tokyo tower condominiums, transparency in repair procurement and checks on ownership costs and sale conditions become relevant investment considerations.

Topic & Methodology

This original article investigates a newsworthy topic using the issuer's materials and our data. The materials used are listed under “Sources and passages reviewed.”

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

The reports and Smart Shuuzen's disclosure

Smart Shuuzen Co., Ltd. stated that media organizations had reported on bid rigging in major condominium repairs and a related cease-and-desist order by the Japan Fair Trade Commission, and disclosed that the company itself was not subject to the measure. [1][2]

What the Source Confirms

The company's safeguards for estimates and procurement

The company says it uses a registered-contractor system, under which contractors pledge at registration not to engage in bid rigging and agree to contract termination if rigging is discovered. It keeps the identities of estimate participants confidential and says it uses data built from past estimates to detect improperly high unit prices and quotations. [3][4]

What the Source Confirms

The ministry's establishment of a study group

To promote proper procurement of major condominium repair work by owners' associations, the ministry established a study group to discuss matters associations should keep in mind and measures for securing suitable contractors, with the first meeting scheduled for October 19. The meeting is closed to the public, and its agenda concerns measures for proper procurement by owners' associations. [5][6][7]

What the Source Confirms

Central Tokyo tower listings and price revisions

Our figures include 660 published buildings at least 20 stories tall, of which 26 are under construction or planned. There were 2,700 units listed for sale, with a median asking price of ¥2.351 million/m², and 1,899 listed for rent, with a median asking rent of ¥6,000/m². [8][9][10]

Price revisions observed from 2026-09-26 through 2026-10-02 comprised 328 reductions and 3 increases for sale listings, and 151 reductions and 7 increases for rental listings. [11]

Conditional Analysis

Checking repair procurement against cash flow and resale value

For central Tokyo tower investments, asking rent and sale price alone do not determine net cash flow. Our investment metric is the monthly amount after subtracting management fees, repair reserve contributions, loan repayments, estimated property taxes and similar charges, and property-management fees from rent adjusted for assumed occupancy. Different repair reserve contribution levels can therefore produce different cash flows at the same asking rent. These materials, however, do not establish any causal relationship between the bid-rigging reports and repair costs at a particular property. [12]

Our median asking price was ¥2.351 million/m² for units listed for sale, and the median asking rent was ¥6,000/m² for units listed for rent. These are listing-stage values and may differ from actual transaction prices or rents received. Investors should check each property's funded status for repair reserves and its long-term repair plan. [9][10][13]

Limitations & Points to Verify

Limits of the materials and additional points to verify

Our price-revision data track changes in asking prices and do not signify lower transaction prices. The number of reductions alone cannot establish deterioration in supply and demand. Listings also do not reveal interior condition, views, management condition, or repair plans, so investors need to ask separately about the owners' association's long-term repair plan, the funded status of repair reserves, and the procurement history of past major repairs. [11][14]

Smart Shuuzen's release describes the company's own response and is not an investigative finding that determines whether bid rigging occurred. The ministry's study group discusses measures for proper procurement; it does not find bid rigging at individual properties. The specific case counts and surcharges mentioned in the topic headline cannot be confirmed from the body of the supplied materials. [2][15]

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. 株式会社スマート修繕
    報道機関より「マンション大規模修繕における談合とそれに関連する公正取引委員会による排除措置命令」等の報道がなされました。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  2. 株式会社スマート修繕
    当社が措置対象となっていないことを公表させていただきます。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  3. 株式会社スマート修繕
    登録時申込書により、談合を行わない旨の誓約、談合が判明した際は契約解除できることへの同意をしていただいております。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  4. 株式会社スマート修繕
    過去見積書から構築したデータを活用、不当に高額な単価、見積書については検知できるようになっております。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  5. 国土交通省 報道発表資料
    管理組合によるマンション大規模修繕工事の適正な発注等を推進するため

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  6. 国土交通省 報道発表資料
    10月19日に第１回を開催します

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  7. 国土交通省 報道発表資料
    検討会は非公開で行いますが

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  8. TOWERS.SELECT Aggregation
    東京23区のタワーマンションのデータ：東京23区で当サイトが棟ページを公開している地上20階以上の建物は660棟。このうち26棟が建設中・計画中。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  9. 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2,700戸で、㎡単価の中央値は235.1万円/㎡（2026-10-02時点、標本2,700戸）。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  10. 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1,899戸で、㎡賃料の中央値は6,000円/㎡（2026-10-02時点、標本1,899戸）。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  11. TOWERS.SELECT Aggregation
    東京23区のタワーマンションのデータ：2026-09-26から2026-10-02までに確認した価格改定は、売買で値下げ328戸・値上げ3戸、賃貸で値下げ151戸・値上げ7戸。

    Collected and aggregated:2026-10-02 23:22 (Japan time)

  12. 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:2026-10-02 23:22 (Japan time)

  13. 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:2026-10-02 23:22 (Japan time)

  14. 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:2026-10-02 23:22 (Japan time)

  15. 国土交通省 報道発表資料
    管理組合が留意すべき事項や、マンション大規模修繕工事に係る適切な事業者の確保に向けた方策等について議論することを目的とした

    Collected and aggregated:2026-10-02 23:22 (Japan time)