Tokyo renovated condos surge in popularity as new supply falls

Property

Some buyers see better value in resale properties less than 15 years old

With new bathroom fixtures and wallpaper, the interiors of renovated condos often rival those of newly built units. (Photo obtained by Nikkei)

TOKYO — Sales of renovated condominium units built less than 15 years ago in Tokyo’s 23 wards were up 20% on the year in the October-December 2024 period, as the dwindling supply and high prices of new properties help boost the popularity of units seen to be “like new.”