2024 in one table
The East Japan REINS metropolitan region is Tokyo, Kanagawa, Saitama and Chiba. The segment is used condominiums, and all price measures are nominal completed-transaction averages.
| Measure | 2024 | Change from 2023 |
|---|---|---|
| Completed sales | 37,222 | +3.4% |
| Completed price per m² | JPY 768,800 | +6.9% |
| Average completed price | JPY 48.90m | +6.9% |
| Average completed area | 63.60 m² | approximately flat |
| Average completed age | 24.53 years | +0.70 years |
| New registrations | 190,880 | -2.9% |
Price growth continued with modestly higher completed activity and lower new registrations.
Price and total ticket moved together
The average completed area was nearly unchanged, so the 6.9% increase in price per square metre and average total price aligned closely. That makes the 2024 arithmetic easier to read than years with larger size changes.
It still is not a same-property index. The geographic, building and quality mix can change even when average area is stable. A subject needs matched evidence.
Completed volume rose modestly
The 37,222 completed sales were above 2022 and 2023 but below the 2021 total. At the annual regional level, activity improved without returning to a simple pre-set benchmark.
Transaction count describes registered completions. It does not reveal failed listings, buyer enquiries or seller reservation prices. Use inventory and local marketing evidence for bargaining conditions.
New registrations declined
New registrations fell 2.9% to 190,880 under the post-2022 counting definition. The total remained above 2022. A one-year flow decline can coexist with price growth and greater completed volume because registrations and completions represent different properties and timing.
For a purchase, inspect the exact competing stock available around the offer date. A regional annual registration number cannot identify a building-level shortage.
Age continued to rise
The average completed unit was 24.53 years old, 2.54 years older than the 2020 average. The age of newly registered stock also reflects the region's large existing base. Older does not mean unfinanceable or poorly managed, but it raises the value of verified maintenance and governance.
Buyers should connect market analysis to association reserves, planned work, special assessments, pipes, lifts, façade, waterproofing and seismic documentation. Those facts affect both holding cash and exit.
A 2024 decision needed a full cost view
At JPY 48.90 million average completed price, acquisition costs and capital mistakes had larger yen consequences than earlier in the series. Underwrite tax, brokerage, registration, finance, monthly charges, vacancy, management and planned work explicitly.
For an overseas buyer, show yen asset return and home-currency return separately. A regional price increase does not automatically translate into realised investor return.
Position before the 2025 break
2024 is the last full year before the January 2025 REINS system modification that may affect completed-sales counts. Its volume can be compared with 2023 under a more consistent registration environment than the following jump.
Price per square metre rose again in 2025, but the average completed unit also became smaller and materially older. The sequence should be read with composition, not as a pure index.
Limits and use
These figures are regional used-condominium averages. They are not inflation-adjusted and do not control for ward, station, floor, condition, view, lease, renovation or finance. They establish context, not causality or subject value.
Use the annual brief to understand what the 2024 release said, then use current completed comparables and property diligence for any live decision.
Primary sources
- East Japan REINS — 2024 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2024.pdf
- East Japan REINS — 2023 metropolitan property market report: https://www.reins.or.jp/pdf/trend/sf/sf_2023.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 2024.
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