As of June 2026, buying an apartment in Tokyo usually means budgeting around ¥75m to ¥105m for a standard resale apartment, which is about $470,000 to $660,000 or €405,000 to €570,000, but the real number changes a lot by ward, station distance, building age and whether the apartment is new or resale.
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We constantly update this blog post so the Tokyo apartment prices, buyer costs and ownership budgets stay as close as possible to the latest available 2026 data.
Tokyo is a difficult city to summarize because a small older apartment in Adachi can cost less than one third of a newer apartment in Minato or Shibuya.
This guide focuses only on apartments in Tokyo, because detached houses and land behave very differently in the Tokyo property market.
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.
Insights
- The Tokyo apartment market in 2026 is split in two: older resale apartments can still be reachable, but new apartments in Tokyo’s 23 wards now average about ¥138m.
- The Tokyo Kantei 70 m² resale benchmark reached about ¥127m in April 2026, which means many family-sized Tokyo apartments now sit above normal local affordability.
- A standard resale apartment in Tokyo in 2026 usually needs an all-in buyer budget of about 6% to 9% above the listing price.
- Tokyo’s cheapest realistic apartment areas are not always the best buys; liquidity and train access matter more than just a low price per square meter.
- For first-time buyers in Tokyo, Akabane, Oji, Itabashi, Kameido, Nishi-Kasai, Nerima and Kanamachi are more practical than central luxury names.
- Monthly building costs in Tokyo matter more than many foreign buyers expect, because management fees and repair reserves can easily reach ¥25,000 to ¥45,000 per month.
- Tokyo waterfront towers can look modern and liquid, but high management fees, repair reserves and future reserve increases can reduce the real return.
- Foreign buyers can legally buy apartments in Tokyo, but mortgage access is much harder without permanent residence or a strong Japan-based income profile.
- In Tokyo in 2026, the most dangerous “cheap apartment” is often an older building with a weak repair reserve, not an expensive central building.
How much do apartments really cost in Tokyo in 2026?
What's the average and median apartment price in Tokyo in 2026?
As of June 2026, the average resale apartment price in Tokyo’s 23 wards is about ¥95m to ¥105m, or roughly $595,000 to $655,000 and €515,000 to €570,000, while the median resale apartment price is closer to ¥75m to ¥85m, or about $470,000 to $530,000 and €405,000 to €460,000.
That means the average resale apartment price per square meter in Tokyo in 2026 is about ¥1.45m to ¥1.80m per m², or about $840 to $1,045 per sq ft and €730 to €905 per sq ft, while the Tokyo Kantei April 2026 70 m² benchmark implies about ¥1.82m per m², or about $1,055 per sq ft and €915 per sq ft.
For most standard resale apartments in Tokyo in 2026, a realistic buyer range is about ¥60m to ¥130m, or about $375,000 to $810,000 and €325,000 to €700,000, before closing costs, renovation and furniture.
We used resale data for buyer reality and new-build data only for comparison.
We also used our own Tokyo ward-level checks to avoid relying on one headline number.
How much is a studio apartment in Tokyo in 2026?
As of June 2026, a typical studio apartment in Tokyo costs about ¥30m to ¥50m, or roughly $190,000 to $310,000 and €160,000 to €270,000, if the buyer accepts an older building or a less central ward.
In practical terms, entry-level to mid-range Tokyo studios usually cost about ¥22m to ¥50m, or about $140,000 to $310,000 and €120,000 to €270,000, while central, newer or luxury studios in Minato, Shibuya, Shinjuku or Bunkyo often cost ¥50m to ¥90m, or about $310,000 to $565,000 and €270,000 to €485,000.
Most studio apartments in Tokyo are compact, usually around 20 m² to 35 m², so a low headline price can still mean a high price per square meter.
We adjusted the Tokyo average downward for older and smaller investor-owned studio units.
We also checked our own neighborhood ranges for outer wards and central wards.
How much is a one-bedroom apartment in Tokyo in 2026?
As of June 2026, a typical one-bedroom apartment in Tokyo costs about ¥60m to ¥90m, or roughly $375,000 to $565,000 and €325,000 to €485,000, in a normal inner or near-core ward.
Entry-level to mid-range one-bedroom apartments in Tokyo usually cost about ¥38m to ¥90m, or about $240,000 to $565,000 and €205,000 to €485,000, while high-end one-bedroom apartments in Minato, Shibuya, Meguro, Bunkyo or Chuo can reach ¥90m to ¥150m, or about $565,000 to $940,000 and €485,000 to €810,000.
A one-bedroom apartment in Tokyo is usually around 35 m² to 55 m², with smaller 1LDK units common in investor-heavy neighborhoods and larger 1LDK units common in higher-income areas.
We converted price-per-m² anchors into typical 35 m² to 55 m² apartment budgets.
We then adjusted the range by ward, station quality and building age.
How much is a two-bedroom apartment in Tokyo in 2026?
As of June 2026, a typical two-bedroom apartment in Tokyo costs about ¥80m to ¥120m, or roughly $500,000 to $750,000 and €430,000 to €650,000, for a decent family-sized resale apartment in the 23 wards.
Entry-level to mid-range two-bedroom apartments in Tokyo usually cost about ¥55m to ¥120m, or about $345,000 to $750,000 and €300,000 to €650,000, while central, waterfront or newer two-bedroom apartments in Toyosu, Kachidoki, Tsukishima, Minato, Shibuya or Chiyoda often cost ¥120m to ¥220m, or about $750,000 to $1.38m and €650,000 to €1.19m.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Tokyo.
We used the 70 m² benchmark, then adjusted for common 50 m² to 65 m² two-bedroom layouts.
We also separated older outer-ward apartments from newer tower apartments.
How much is a three-bedroom apartment in Tokyo in 2026?
As of June 2026, a typical three-bedroom apartment in Tokyo costs about ¥110m to ¥160m, or roughly $690,000 to $1.0m and €595,000 to €865,000, for a normal family resale unit in the 23 wards.
Entry-level to mid-range three-bedroom apartments in Tokyo usually cost about ¥75m to ¥160m, or about $470,000 to $1.0m and €405,000 to €865,000, while central, waterfront or newer three-bedroom apartments can cost ¥160m to ¥300m or more, or about $1.0m to $1.88m and €865,000 to €1.62m or more.
Most three-bedroom apartments in Tokyo are around 65 m² to 85 m², and the biggest price jump happens when the apartment is near a strong station, a good school area or a newer tower cluster.
We treated family units separately because 3LDK stock is scarcer than small units.
We then checked the results against our own Tokyo family-apartment pricing model.
What's the price gap between new and resale apartments in Tokyo in 2026?
As of June 2026, new-build apartments in Tokyo’s 23 wards usually cost about 20% to 45% more than resale apartments, and the gap is often wider in central luxury towers.
The estimated average new-build apartment price per square meter in Tokyo’s 23 wards is about ¥2.14m per m², or about $1,245 per sq ft and €1,075 per sq ft, based on the latest FY2025 new-condo market data.
By comparison, the estimated average resale apartment price per square meter in Tokyo’s 23 wards is about ¥1.45m to ¥1.80m per m², or about $840 to $1,045 per sq ft and €730 to €905 per sq ft, which explains why many foreign buyers start with resale.
We used new-build averages carefully because new supply is concentrated in expensive Tokyo projects.
We also used our own resale-new comparison to avoid overstating normal buyer affordability.
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Can I afford to buy in Tokyo in 2026?
What's the typical total budget (all-in) to buy an apartment in Tokyo in 2026?
As of June 2026, a typical all-in budget for a standard resale apartment in Tokyo is about ¥80m to ¥115m, or roughly $500,000 to $720,000 and €430,000 to €620,000, if the buyer targets a normal apartment rather than a luxury tower.
This all-in Tokyo apartment budget usually includes the purchase price, brokerage fee, registration tax, judicial scrivener fee, stamp duty, acquisition tax, loan fees, insurance, prorated property tax, prorated building fees and some buyer-side admin costs.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Tokyo property pack.
We modeled closing costs as 6% to 9% for resale and 4% to 7% for new-build.
We also checked our own buyer-cost sheets from similar Tokyo apartment purchases.
What down payment is typical to buy in Tokyo in 2026?
As of June 2026, a foreign buyer should expect a typical Tokyo apartment down payment of about 20% to 40%, which is around ¥16m to ¥46m, or about $100,000 to $290,000 and €86,000 to €250,000, on an ¥80m to ¥115m purchase.
The minimum down payment in Tokyo can be around 10% to 20% for strong Japan-based borrowers, but many foreign residents without permanent residence and many non-resident buyers face 30% to 50% requirements or cash-buying expectations.
For better mortgage terms in Tokyo in 2026, a foreign buyer should usually aim for at least 25% to 35% down, because banks care about residency status, income stability, visa profile and property use.
We separated owner-occupier mortgages from investment mortgages because Japanese lenders treat them differently.
We also used our own foreign-buyer financing assumptions for Tokyo apartment purchases.
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Which neighborhoods are cheapest or priciest in Tokyo in 2026?
How much does the price per m² for apartments vary by neighborhood in Tokyo in 2026?
As of June 2026, resale apartment prices in Tokyo vary from about ¥650,000 per m² to more than ¥3.6m per m², or roughly $380 to $2,090 per sq ft and €325 to €1,810 per sq ft, depending on the neighborhood and building.
The most affordable Tokyo apartment areas include Adachi, Katsushika, Edogawa, Kanamachi, Nerima, Hikarigaoka, Itabashi, Oji and Akabane, where older resale apartments often sit around ¥650,000 to ¥1.35m per m², or about $380 to $785 per sq ft and €325 to €680 per sq ft.
The most expensive Tokyo apartment areas include Omotesando, Aoyama, Azabu-Juban, Roppongi, Hiroo, Ebisu, Daikanyama, Shirokane-Takanawa, Chiyoda and prime Minato, where resale apartments often sit around ¥2.1m to ¥3.6m per m², or about $1,220 to $2,090 per sq ft and €1,055 to €1,810 per sq ft.
We built ranges because one Tokyo ward can contain both cheap older stock and expensive tower stock.
We also used our own neighborhood scoring for station distance, building age and liquidity.
What neighborhoods are best for first-time buyers on a budget in Tokyo in 2026?
As of June 2026, the top three Tokyo neighborhoods for first-time buyers on a budget are Akabane, Oji and Kameido, because they combine lower prices, good rail access and better resale liquidity than many cheaper outer areas.
In these budget-friendly Tokyo neighborhoods, a realistic apartment price range is about ¥45m to ¥80m, or roughly $280,000 to $500,000 and €245,000 to €430,000, with lower prices possible for older or smaller units.
Akabane and Oji offer strong JR and subway access toward central Tokyo, while Kameido gives buyers east-side value near Kinshicho and improving urban convenience.
The main trade-off is that first-time buyers in these Tokyo areas may need to accept an older building, a smaller floor plan or a longer walk from the best station exits.
We prioritized liquidity and transport, not only the lowest price.
We also used our own buyer-risk framework for Tokyo first-time buyers.
Which neighborhoods have the fastest-rising apartment prices in Tokyo in 2026?
As of June 2026, the Tokyo neighborhoods with the fastest-rising apartment prices are Kachidoki and Harumi, Toyosu and Tsukishima, with Nakano, Shirokane-Takanawa and the Kameido-Kinshicho edge also showing strong pressure.
In these fast-rising Tokyo neighborhoods, recent annual resale apartment price increases are often around 8% to 20%, with the strongest tower and redevelopment pockets sometimes moving faster than the wider Tokyo average.
The main driver is redevelopment, better perceived lifestyle quality, family demand, limited new supply and buyer spillover from even more expensive central Tokyo areas.
We treated redevelopment-led areas separately from low-base cheap areas.
We also used our own Tokyo micro-market review to avoid chasing listing hype.
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What extra costs will I pay on top of the apartment price in Tokyo in 2026?
What are all the buyer closing costs when you buy an apartment in Tokyo?
For a typical Tokyo resale apartment, buyer closing costs are usually about ¥5m to ¥10m, or roughly $31,000 to $63,000 and €27,000 to €54,000, on a standard ¥80m to ¥115m purchase.
The main Tokyo apartment closing costs are brokerage commission, registration and license tax, judicial scrivener fee, real estate acquisition tax, stamp duty, loan fees, insurance and prorated tax or building-fee settlements.
The largest buyer closing cost in Tokyo is usually the brokerage fee on resale apartments, because it is often calculated as 3% of the purchase price plus ¥60,000 plus consumption tax.
Some Tokyo closing costs can vary, especially brokerage discounts, loan fees, insurance, translation support and bank admin costs, but official taxes and registration costs are harder to negotiate.
We calculated costs on realistic Tokyo resale budgets, not only on legal minimums.
We also checked our own Tokyo buyer-cost templates for foreign purchasers.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Tokyo?
In Tokyo in 2026, buyers should usually budget about 6% to 9% of the purchase price for resale apartment closing costs and about 4% to 7% for new-build apartment closing costs.
The realistic low-to-high range is about 5% to 9% for most standard Tokyo apartment transactions, with cash buyers often near the low end and mortgage buyers often near the high end.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Tokyo.
We separated resale from new-build because brokerage often changes the total cost.
We also used our own closing-cost checks for Tokyo foreign-buyer cases.
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What are the ongoing monthly and yearly costs of an apartment in Tokyo in 2026?
What are typical HOA fees in Tokyo right now?
Tokyo does not usually call these costs HOA fees, but apartment owners normally pay a monthly management fee and repair reserve fund, and a normal resale apartment often costs about ¥25,000 to ¥45,000 per month, or about $155 to $280 and €135 to €245.
For Tokyo apartments in 2026, the realistic monthly range is about ¥15,000 to ¥30,000 for a small older unit, ¥25,000 to ¥45,000 for a normal resale apartment, ¥40,000 to ¥85,000 for many towers and more than ¥100,000 for some central luxury buildings, equal to about $95 to $625 and €80 to €540.
We annualized and resized the data by apartment type.
We also separated tower buildings because shared facilities often raise monthly costs.
What utilities should I budget monthly in Tokyo right now?
For a typical Tokyo apartment in 2026, monthly utilities usually cost about ¥20,000 to ¥35,000, or roughly $125 to $220 and €110 to €190, for a single person or couple in a studio or 1LDK.
The realistic monthly utility range in Tokyo is about ¥13,500 to ¥23,500 for a studio, ¥19,000 to ¥32,000 for a couple in a 1LDK and ¥26,000 to ¥45,000 for a family apartment, or about $85 to $280 and €75 to €245.
This Tokyo utilities budget usually includes electricity, gas, water, sewerage and internet, but it does not include mobile phone bills or optional building services.
Electricity is often the most expensive Tokyo apartment utility, especially during summer air-conditioning months and winter heating months.
We used ranges because insulation, exposure and air-conditioning use change bills a lot.
We also increased the gas-cost buffer because Tokyo Gas announced tariff revisions from late 2026.
How much is property tax on apartments in Tokyo?
For a standard apartment in Tokyo in 2026, annual property tax and city planning tax usually cost about ¥150,000 to ¥400,000, or roughly $940 to $2,500 and €810 to €2,160.
Tokyo fixed asset tax is generally calculated at 1.4% of assessed value, and city planning tax can add up to 0.3% of assessed value, but the effective cost is much lower than 1.7% of the purchase price because assessed values and residential reductions matter.
The realistic annual property-tax range for Tokyo apartments is about ¥80,000 to ¥160,000 for a ¥40m apartment, ¥140,000 to ¥280,000 for a ¥70m apartment, ¥200,000 to ¥400,000 for a ¥100m apartment and ¥300,000 to ¥650,000 for a ¥150m apartment, or about $500 to $4,060 and €430 to €3,510.
We modeled tax from assessed value, not from the listing price.
We also checked our own Tokyo tax scenarios for different apartment values.
What's the yearly building maintenance cost in Tokyo?
For a normal apartment owner in Tokyo in 2026, yearly building maintenance costs are usually about ¥300,000 to ¥550,000, or roughly $1,875 to $3,440 and €1,620 to €2,970, when management fees and repair reserves are combined.
The realistic yearly range is about ¥180,000 to ¥350,000 for a small older apartment, ¥300,000 to ¥550,000 for a normal resale apartment, ¥500,000 to ¥1.0m for many towers and more than ¥1.0m for some central luxury buildings, or about $1,125 to $6,250 and €970 to €5,405.
These Tokyo building maintenance costs usually cover daily management, cleaning, common-area electricity, elevator servicing, inspections, building insurance and long-term repair reserves.
In Tokyo, these building maintenance costs are usually the same costs that foreign buyers call HOA fees, so buyers should not count them twice.
We converted monthly charges into yearly ownership costs.
We also adjusted for tower buildings because facilities and future repairs can be expensive.
How much does home insurance cost in Tokyo?
For a typical apartment in Tokyo in 2026, annual home insurance usually costs about ¥25,000 to ¥70,000, or roughly $155 to $440 and €135 to €380, depending on coverage and apartment value.
The realistic annual range is about ¥15,000 to ¥35,000 for a small studio, ¥25,000 to ¥60,000 for a 1LDK or 2LDK, ¥40,000 to ¥90,000 for a 3LDK and ¥80,000 to ¥200,000 or more for a high-value central apartment, or about $95 to $1,250 and €80 to €1,080.
Home insurance is not always legally mandatory for cash buyers in Tokyo, but lenders usually require fire insurance for mortgage buyers, and earthquake insurance is optional but very important in Japan.
We estimated annualized costs because many policies are paid upfront for several years.
We separated fire insurance from earthquake insurance because earthquake coverage has different limits.
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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.
| Source | Why we trust it | How we used it |
|---|---|---|
| East Japan REINS Market Watch | It is the official resale transaction data body for the Tokyo metropolitan area. | We used it to anchor resale apartment prices and market direction. We treated it as the best source for actual resale momentum. |
| Tokyo Kantei 70 m² used-condo series | It is one of Japan’s main private real-estate data sources. | We used it for the Tokyo 23 wards 70 m² benchmark. We converted that benchmark into simple price-per-m² and price-per-sq-ft figures. |
| Real Estate Economic Institute condominium reports | It is a standard source for new-condo supply and pricing in Japan. | We used it to estimate new-build apartment prices in Tokyo’s 23 wards. We compared new-build data with resale data to estimate the new-build premium. |
| MLIT Real Estate Information Library | It is Japan’s official portal for property transaction and land-price information. | We used it to cross-check neighborhood and ward-level price direction. We treated it as the official reality check against market reports. |
| MLIT 2026 official land-price data | It is Japan’s official benchmark for annual land-price movements. | We used it to identify redevelopment and land-value pressure. We paid special attention to central Tokyo and waterfront districts. |
| Tokyo Metropolitan Tax Bureau | It is Tokyo’s official source for local property-tax rules. | We used it for fixed asset tax and city planning tax. We separated headline rates from the lower effective tax burden. |
| National Tax Agency Japan | It is Japan’s official national tax authority. | We used it to check national tax logic and stamp-tax context. We included it in our closing-cost methodology. |
| Japan Housing Finance Agency Flat 35 | It is the official source for Flat 35 mortgage conditions. | We used it to explain mortgage access for foreign buyers. We flagged that permanent residence status is important for Flat 35 eligibility. |
| JHF foreign-national Flat 35 guidance | It directly explains Flat 35 rules for foreign nationals. | We used it to avoid vague claims about foreign-buyer mortgages. We used it to distinguish legal ownership from practical financing access. |
| Bank of Japan | It is Japan’s central bank and the key macro-rate source. | We used it to frame the 2026 mortgage-rate environment. We did not treat policy rates as direct retail mortgage quotes. |
| Bank of Japan foreign exchange data | It is an official source for yen exchange-rate reference data. | We used it to sanity-check yen conversion assumptions. We rounded USD and EUR amounts for easy reading. |
| REINS management-fee and repair-reserve topic | It focuses directly on condominium management and reserve charges. | We used it for monthly ownership-cost estimates. We converted management and repair reserves into monthly and yearly buyer budgets. |
| Tokyo Metropolitan Waterworks Bureau | It is Tokyo’s official water and sewerage billing source. | We used it to estimate water and sewerage costs. We combined it with electricity, gas and internet assumptions. |
| TEPCO electricity-rate materials | TEPCO is the main electricity utility for the Tokyo area. | We used it to frame electricity as a major monthly utility. We allowed a wide range because air-conditioning use changes bills. |
| Tokyo Gas 2026 tariff revision | Tokyo Gas is a major regulated gas provider in Tokyo. | We used it to reflect gas-price pressure in 2026. We adjusted utility budgets upward because tariff revisions start from late 2026. |
| Tokyo Gas June 2026 gas-rate adjustment | It gives a current monthly gas-rate adjustment for Tokyo-area users. | We used it to avoid relying only on older utility bills. We treated it as a short-term utility-cost signal. |
| USD to JPY 2026 exchange-rate history | It gives an accessible 2026 exchange-rate history for readers. | We used it as a cross-check for dollar conversions. We rounded conversions because property buyers need simple budget ranges. |
| EUR to JPY 2026 exchange-rate history | It gives an accessible 2026 exchange-rate history for euro readers. | We used it as a cross-check for euro conversions. We rounded euro amounts so the article stays easy to read. |
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