ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Tokyo condo prices overtake bubble-era record in 2021

COVID-19 and low interest rates spur demand for homeownership

A high-rise condo in the Kanagawa Prefecture city of Kawasaki. Japanese homebuyers are snapping up units not just in Tokyo, but also its surrounding regions.

TOKYO -- New condominium prices in greater Tokyo last year topped the record set during the height of Japan's asset price bubble, according to data published Tuesday by the Real Estate Economic Institute.

The average price of a newly built condo unit increased 2.9% in 2021 to 62.6 million yen ($550,000) across the greater capital region. The record set in 1990 was 61.23 million yen.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more