Prices for used condominiums in central Tokyo are surging as a shortage of newly built units drives up demand.



Real-estate research firm Tokyo Kantei conducted a survey of previously owned condos in the capital's 23 wards.



It showed the average price in July was almost 105 million yen, or over 710,000 dollars, based on a notional 70 square-meter unit. That represents an increase of nearly 39 percent year-on-year.



It is the third straight month that the average price has exceeded the 100-million-yen mark.



Average prices in the six central wards were especially high at double or more than those in other areas.
Tokyo Kantei senior analyst Takahashi Masayuki said, "There's a need for housing close to where people work. This is partly due to a return to the routine of commuting to work after the coronavirus. That's why people want to live in central Tokyo."



Takahashi added that demand from foreigners looking for properties as investments is also increasing.
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Quiz 1:
In July 2025, the average price of a used condominium in central Tokyo was based on a notional unit of what size?
A. 60 square-meters
B. 70 square-meters
C. 80 square-meters
D. 90 square-meters

Quiz 2:
What was the average price for a used condominium in central Tokyo in July 2025, as shown by the survey conducted by Tokyo Kantei?
A. Less than 100 million yen
B. More than 100 million yen but less than 150 million yen
C. Exactly 100 million yen
D. More than 150 million yen

Quiz 3:
According to Takahashi Masayuki, senior analyst at Tokyo Kantei, what is one of the reasons for the high demand for condominiums in central Tokyo?
A. Increasing demand from foreigners looking for properties as investments
B. The need for housing far away from where people work
C. Return to regular commuting due to the coronavirus
D. Shortage of newly built units

[Answer block]
Answers:
Quiz 1: B
Quiz 2: D
Quiz 3: A