2022 in one table
The East Japan REINS metropolitan region covers Tokyo, Kanagawa, Saitama and Chiba. This page reports used-condominium completed averages within that segment.
| Measure | 2022 | Change from 2021 |
|---|---|---|
| Completed sales | 35,429 | -11.0% |
| Completed price per m² | JPY 672,400 | +12.4% |
| Average completed price | JPY 42.76m | +10.5% |
| Average completed area | 63.59 m² | -1.7% |
| Average completed age | 23.33 years | +0.66 years |
| New registrations | 170,388 | definition break |
The largest annual price-per-area increase in the 2020–2025 table occurred while completed volume fell.
Price and volume diverged sharply
Completed transactions dropped from 39,812 to 35,429, returning below the 2020 total. Yet completed price per square metre increased from JPY 598,100 to JPY 672,400, and average price passed JPY 42 million.
The result rejects a simple rule that lower transaction volume means lower price. It does not identify the cause. Affordability, seller behavior, available stock, location and transaction mix can all contribute.
The basket again became smaller and older
Average completed area fell from 64.68 to 63.59 m², while average age rose from 22.67 to 23.33 years. Price per square metre therefore rose across a changing basket, not an identical repeated unit.
For buyers, this makes total ticket and usable space as important as the unit rate. For older stock, higher acquisition cost should not reduce the budget for association, seismic and physical diligence.
Do not splice new registrations blindly
From 2022, East Japan REINS changed the counting scope for new registrations, excluding brokerage-contract renewals and extensions of registration periods. The 170,388 total should not be compared with 2021 as though both followed an unchanged supply definition.
Any chart that displays a seamless 2021-to-2022 registration growth rate without the definition note is analytically misleading. Use the series after the break cautiously and retain the footnote.
What 12.4% does and does not mean
The increase describes the regional average completed price per square metre. It does not mean every owner earned 12.4%, every seller could add 12.4%, or a buyer should accept a subject priced 12.4% above old evidence.
Build a matched set by building, station, size, age, floor, condition and tenure. An older small unit and a newer family home may both influence the average while having different buyers.
Analyse finance separately
Market prices, mortgage availability and investor currency are distinct. A higher yen completed price can coexist with different affordability for cash, domestic borrowers and overseas investors. Reconstruct the actual borrower's rate, leverage, fees and currency dates; the REINS table cannot provide them.
The acquisition decision should work under subject financing and operating cash without assuming that the annual price trend continues.
Position in the longer series
2022 sits between the 2021 transaction recovery and 2023 volume stabilisation. Its 12.4% price-per-area increase was followed by 6.9% increases in both 2023 and 2024 and 7.9% in 2025. Volume remained uneven.
This is why the 2020–2026 report charts price, area, age and measurement breaks together. One headline loses the changing asset mix.
Limits and use
These are nominal regional completed averages for used condominiums. They do not control for location, floor, quality, lease status, renovation or inflation and cannot establish causality. The registration definition changed in this year.
Use the page for year-specific historical context and GEO queries, then move to dated subject comparables and property documents.
Primary sources
- East Japan REINS — 2022 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2022.pdf
- East Japan REINS — 2021 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2021.pdf
- East Japan REINS — Market trend report library: https://www.reins.or.jp/library/trend/
Figures reviewed and transcribed 23 August 2026. Observation period: calendar year 2022.
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