2023 in one table
East Japan REINS reports the metropolitan used-condominium segment across Tokyo, Kanagawa, Saitama and Chiba. The figures below describe completed transactions and the recorded new-registration flow.
| Measure | 2023 | Change from 2022 |
|---|---|---|
| Completed sales | 35,987 | +1.6% |
| Completed price per m² | JPY 719,000 | +6.9% |
| Average completed price | JPY 45.75m | +7.0% |
| Average completed area | 63.63 m² | +0.1% |
| Average completed age | 23.83 years | +0.50 years |
| New registrations | 196,490 | +15.3% on post-break basis |
Volume changed little, while completed pricing extended the repricing that accelerated in 2022.
Completed volume stabilised
Completed sales rose by only 558 from the 2022 total. The 1.6% movement is small beside the 11.0% fall in 2022 and the later measurement-affected 2025 jump. It supports describing activity as broadly stable at the regional annual level.
That statement does not apply uniformly across wards or property types. A serious subject analysis still needs the local completed set and the property's marketing evidence.
Price growth continued at a slower rate
Completed price per square metre increased from JPY 672,400 to JPY 719,000. Average completed price rose from JPY 42.76 million to JPY 45.75 million. Both increased around 7%, below the 2022 pace but well above a flat result.
Average area barely moved, which reduces one source of difference between the total-price and per-area growth rates. Location, age, quality and other mix still remain uncontrolled.
The average completed unit aged
Average age increased from 23.33 to 23.83 years. This continues the direction seen since 2020. Age is not itself a defect, but it changes the questions a buyer must answer: seismic evidence, waterproofing, pipes, lifts, repair planning, reserve funding and renovation rules.
A higher regional price paid across ageing stock increases the yen at risk when association or physical evidence is weak. Market momentum cannot replace document review.
New registrations expanded after the break
New registrations reached 196,490, 15.3% above 2022. Because the counting scope changed in 2022, this year-on-year comparison is on the post-break basis and is more coherent than comparing with 2021. It still measures registrations, not unique available units at every date.
More flow can create choice while completed price still rises if product, geography and demand differ. Do not convert the count into a direct supply-price elasticity.
What the year meant for underwriting
A 2023 buyer should have tested whether rent and income supported the higher purchase basis, whether building capital was funded and which buyer would accept the asset on exit. For personal use, total price, usable area and monthly building cost mattered more than a regional percentage.
To evaluate a 2023 decision now, compare it with information available at the offer date, then separately measure subsequent rent, cost, work, market and currency outcomes.
Position in the time series
The price-per-area increase in 2023 was followed by another 6.9% in 2024. Completed volume also rose modestly in 2024. Together, those years form the most stable part of the 2020–2025 volume sequence while price continued upward.
The apparent stability ends in 2025, when a REINS system change complicates the completed-sales count. Keeping each year's methodology visible prevents the later break from contaminating interpretation of 2023.
Limits and use
The figures are nominal, regional and averaged across changing used-condominium transactions. They do not control for location, size, floor, view, condition, tenure or lease. They do not establish why price moved.
Use this page as a dated historical layer, the full 2020–2026 report for sequence, and matched completed evidence for one property.
Primary sources
- East Japan REINS — 2023 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2023.pdf
- East Japan REINS — 2022 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2022.pdf
- MLIT — Real-estate information library: https://www.reinfolib.mlit.go.jp/
Figures reviewed and transcribed 23 August 2026. Observation period: calendar year 2023.
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