What are housing prices like in Tokyo right now? (January 2026)

Tokyo's real estate market continues to attract buyers from around the world, but understanding actual prices can be confusing.

We constantly update this blog post with the latest Tokyo housing price data so you always have current numbers.

Below, you will find median prices, price per square meter, neighborhood comparisons, and concrete examples of what different budgets can buy in Tokyo in 2026.

And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Tokyo.

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Tokyo. If you’d like to learn more about us, you can check our presentation page.

What is the average housing price in Tokyo in 2026?

The median housing price is more useful than the average in Tokyo because a small number of ultra-expensive properties in central wards like Minato and Chiyoda push the average much higher than what most buyers actually pay.

We are writing this as of the first half of 2026 using the latest data from authoritative Japanese sources that we manually verified and cross-checked.

The median housing price for existing condos in Tokyo's 23 wards in 2026 is approximately 92 million yen (around $635,000 or €575,000), while the average price is roughly 108 million yen (around $745,000 or €675,000). This gap exists because Tokyo has many high-end central properties that pull the average up.

About 80% of existing condo listings in Tokyo's 23 wards in 2026 fall within a price range of 40 million to 170 million yen (roughly $275,000 to $1.17 million or €250,000 to €1.06 million).

A realistic entry-level purchase in Tokyo in 2026 would be 25 to 40 million yen ($170,000 to $275,000 or €155,000 to €250,000), which gets you an existing 1R or 1K studio of 18 to 25 square meters in outer wards like Katsushika or Adachi, typically 10 to 25 years old and within 15 minutes walk to a station.

Luxury properties in Tokyo in 2026 typically range from 300 million to 1.5 billion yen ($2.1 million to $10.3 million or €1.9 million to €9.4 million), which includes high-floor tower condos or penthouses of 120 to 200 square meters in prime Minato locations like Azabu, Roppongi, or Aoyama with top-tier views and brand buildings.

By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Tokyo.

Are Tokyo property listing prices close to the actual sale price in 2026?

In Tokyo's resale condo market in 2026, the final closing price is typically 3% to 7% lower than the listing price.

This relatively small discount happens because Tokyo's supply-constrained market, especially in popular central wards, gives sellers stronger negotiating positions. The gap tends to be larger for older buildings and detached houses where buyers negotiate for repairs or condition issues after inspections.

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What is the price per sq m or per sq ft for properties in Tokyo in 2026?

As of early 2026, the median price for existing condos in Tokyo's 23 wards is approximately 1,415,000 yen per square meter ($9,760/sqm or €8,850/sqm), which equals about 131,500 yen per square foot ($907/sqft or €822/sqft). The average price runs higher at roughly 1,543,000 yen per square meter ($10,640/sqm or €9,640/sqm) or 143,400 yen per square foot ($989/sqft or €896/sqft).

Small to mid-sized condos in prime Central 6 ward locations near train stations and in newer towers with good views have the highest price per square meter in Tokyo in 2026, while larger, older units far from stations in outer wards have the lowest because of longer commutes and higher renovation risks.

The highest prices per square meter in Tokyo in 2026 are found in Minato, Chiyoda, Chuo, and Shibuya wards, ranging from 2.3 to 4.5 million yen per square meter. The lowest prices are in Edogawa, Katsushika, and Adachi wards, ranging from 0.7 to 1.1 million yen per square meter.

How have property prices evolved in Tokyo?

Compared to one year ago in January 2025, Tokyo existing home prices have risen an estimated 6% to 10% in nominal terms, or 3% to 7% after adjusting for inflation. This growth was driven by tight new-build supply pushing buyers into the resale market, combined with continued land price appreciation in metropolitan areas.

Compared to 10 years ago in January 2016, Tokyo existing home prices have increased roughly 45% to 70% in nominal terms, or 25% to 45% in real inflation-adjusted terms. This decade of gains reflects Tokyo's structural desirability for jobs and transport, sustained redevelopment, easy financing conditions, and global investor interest during weak-yen periods.

By the way, we've written a blog article detailing the latest updates on property price variations in Tokyo.

Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Tokyo.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Japan versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

What types of homes are available in Tokyo and how do their prices compare in 2026?

In Tokyo's 23 wards in 2026, condominiums (called "mansions" in Japanese) make up about 75% of residential listings, detached houses account for roughly 20%, and other property types like low-rise apartments represent about 5%, because Tokyo's extreme land scarcity makes high-density condo living the most practical option for most buyers.

Average price ranges by property type in Tokyo as of the first half of 2026 are: studio condos (1R/1K) at 30 to 55 million yen ($207,000 to $379,000 or €188,000 to €344,000), 1LDK condos at 55 to 90 million yen ($379,000 to $621,000 or €344,000 to €563,000), 2LDK condos at 85 to 140 million yen ($586,000 to $966,000 or €531,000 to €875,000), 3LDK condos at 110 to 220 million yen ($759,000 to $1.52 million or €688,000 to €1.38 million), detached houses at 90 to 180 million yen ($621,000 to $1.24 million or €563,000 to €1.13 million), and luxury tower or penthouse units at 300 million to 1.5 billion yen ($2.07 million to $10.3 million or €1.88 million to €9.4 million).

If you want to know more, you should read our dedicated analyses:

• How much do properties cost in Tokyo?
• How much should you pay for an apartment in Tokyo?
• How much should you pay for a studio in Tokyo?

How do property prices compare between existing and new homes in Tokyo in 2026?

New construction condos in Tokyo in 2026 command a premium of roughly 25% to 40% more per square meter compared to similar existing homes.

This premium exists because rising construction labor costs and material prices are pushing new-build pricing higher, while limited availability of prime land in central Tokyo allows developers to position new stock as premium products with modern amenities and earthquake-resistant construction.

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How do property prices vary by neighborhood in Tokyo in 2026?

Minato ward (including Azabu, Roppongi, and Aoyama) is Tokyo's premier luxury area, popular with expats due to nearby international schools and embassy presence. Existing condos here in 2026 typically range from 180 to 600 million yen ($1.24 to $4.14 million or €1.13 to €3.75 million) because of unmatched prestige and convenience.

Shibuya ward (including Ebisu, Hiroo-adjacent, and Omotesando areas) attracts lifestyle-focused buyers seeking top dining, retail, and nightlife. Prices for existing condos in Shibuya in 2026 range from 140 to 450 million yen ($966,000 to $3.1 million or €875,000 to €2.81 million) due to the strong brand appeal and central location.

Meguro ward (including Nakameguro and Jiyugaoka) offers a more liveable Tokyo experience with cafes, parks, and easy access to business districts. Existing condo prices in Meguro in 2026 range from 110 to 280 million yen ($759,000 to $1.93 million or €688,000 to €1.75 million) because it balances quality of life with reasonable commutes.

You will find a much more detailed analysis by areas in our property pack about Tokyo. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:

How much more do you pay for properties in Tokyo when you include renovation work, taxes, and fees?

When buying an existing condo in Tokyo in 2026, expect to pay roughly 6% to 9% on top of the purchase price for fees, taxes, and registrations, while new condos typically add 8% to 12% because of additional consumption tax and developer-related costs.

If you buy a property around $200,000 (approximately 29 million yen) in Tokyo, you should budget an additional 1.7 to 2.6 million yen ($12,000 to $18,000) for closing costs. This means your total outlay would be roughly 30.7 to 31.6 million yen ($212,000 to $218,000).

For a property around $500,000 (approximately 72.5 million yen) in Tokyo, expect additional costs of 4.4 to 6.5 million yen ($30,000 to $45,000). Your total cost would reach approximately 77 to 79 million yen ($530,000 to $545,000).

If you purchase a property around $1,000,000 (approximately 145 million yen) in Tokyo, budget for extra costs of 8.7 to 13 million yen ($60,000 to $90,000). This brings your all-in cost to roughly 154 to 158 million yen ($1.06 million to $1.09 million).

By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Tokyo.

Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Tokyo

We made this infographic to show you how property prices in Japan compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

What properties can you buy in Tokyo in 2026 with different budgets?

With $100,000 (approximately 14.5 million yen), options in Tokyo are very limited: you might find a very small 1R studio of 15 to 18 square meters in far outer wards like Edogawa or Adachi that is 30+ years old, requires renovation, and has a 15+ minute walk to the station, but this price point is below the practical Tokyo market.

With $200,000 (approximately 29 million yen), you can buy an existing 1R or 1K studio of 18 to 22 square meters in value wards like Katsushika (Kanamachi area), Edogawa (Kasai area), or Nerima, typically older buildings but in decent condition.

With $300,000 (approximately 43.5 million yen), you can purchase an existing 1LDK of 30 to 35 square meters in wards like Ota (Kamata area) or Koto (eastern side), or an older 2DK of around 40 square meters in Nerima.

With $500,000 (approximately 72.5 million yen), you can buy an existing 2LDK of 50 to 55 square meters in popular wards like Setagaya or Shinagawa, or a 1LDK of 45 to 55 square meters in less-prime Shinjuku areas.

With $1,000,000 (approximately 145 million yen), you can purchase an existing 3LDK of 75 to 85 square meters in desirable Meguro with good station access, a 2LDK of 65 to 75 square meters in Shibuya, or a newer 2LDK of 55 to 65 square meters in Chuo/Koto border developments.

With $2,000,000 (approximately 290 million yen), you enter Tokyo's luxury segment: a newer 2 to 3LDK of 90 to 110 square meters in prime Minato (tower building), a high-floor 2LDK of 80 to 100 square meters in Chiyoda or Chuo, or a prime 2LDK of 85 to 110 square meters in top Shibuya locations.

If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Tokyo.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Tokyo, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

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