Quarterly Report for Premium Condominiums in Tokyo | 1Q FY 2026

【Chart 1】

The above chart provides an objective analysis of trends in the average transaction price per square meter and transaction volume across the eight premium condominium areas* by comparing them with major economic developments and the Nikkei Stock Average during the same period. Looking at the overall performance of the premium condominium market (chart above), the average transaction price index for the current quarter (1Q 2026) declined significantly to 275.6, down 30.5 points quarter-on-quarter. Transaction volume also decreased to 183 transactions, down 10 transactions from the previous quarter, marking the fourth consecutive quarter of decline.

**Eight premium residential areas: Roppongi / Akasaka / Toranomon; Azabu / Azabu-Juban / Mita; Shirokane / Takanawa; Aoyama / Shibuya; Hiroo / Daikanyama / Ebisu ;Bancho / Kojimachi / Iidabashi; Ichigaya / Yotsuya; and Ginza

【Chart 2】

The above chart illustrates changes in average transaction prices by area. Among the ten surveyed areas, average transaction prices increased in four areas during the current quarter: “Roppongi, Akasaka and Toranomon,” “Azabu, Azabu-Juban and Mita,” “Ichigaya and Yotsuya,” and “Meguro and Shinagawa.” Of these, the “Azabu, Azabu-Juban and Mita area” and the “Ichigaya and Yotsuya area” recorded their highest levels since data collection began. In contrast, average transaction prices declined in six areas: “Shirokane and Takanawa,” “Aoyama and Shibuya,” “Hiroo, Daikanyama and Ebisu,” “Ginza,” “Bancho, Kojimachi and Iidabashi,” and “Setagaya and Ota.”

【Chart 3】

The above chart compares the proportion of purchases made by overseas residents in transactions handled by the Mitsui Fudosan Realty Group with transaction prices (in both Japanese yen and U.S. dollars) and foreign exchange rates. The proportion of purchases by overseas residents increased to 8.0%, up 0.7 percentage points from the previous quarter. At the same time, the average transaction price per tsubo on a U.S. dollar basis fell to USD 73,930, a decline of USD 8,686 quarter-on-quarter, representing the third consecutive quarter of decline.

In the 1Q of FY2026, transaction volume declined for the fourth consecutive quarter, while average transaction prices fell for the second consecutive quarter. Meanwhile, the number of properties listed for sale across the ten surveyed areas reached 1,516 units at the end of the quarter, an increase of 162 units compared with the previous quarter, marking the eighth consecutive quarter of growth in available inventory. The impact of this increase in supply on future transaction volume and average transaction prices will be closely watched. Furthermore, the Nikkei Stock Average surpassed 60,000 points for the first time during the quarter. Close attention should therefore be paid to how equity market performance develops in future quarters, together with broader global economic conditions and foreign exchange movements, as these factors may continue to influence activity in the premium residential market.

◆Source : Avg. Contact unit prices/No. of Contracts ---Based on the data regarding actual transactions contracted at Mitsui's Rehouse/Real Plan sales offices ( All of the Data compiled are subject to transactions of the premium condos designated by Mitsui Fudosan Realty）. Copyright© Mitsui Fudosan Realty Co., Ltd. All Rights Reserved.