KEY POINTSGreater Tokyo investment apartment supply reaches 2,401 units in January-June 2026, up 28.8% year on yearAverage unit price rises 7.8% to 37.03 million yen as supply expands to 27 areasYokohama Minami Ward leads with 348 units; land competition in Tokyo’s 23 wards supports Yokohama and Kawasaki share
Greater Tokyo investment apartment supply reached 2,401 units in January-June, with average prices climbing and Yokohama’s Minami Ward ranking first. Photo by Karen Chew on Unsplash
Karen Chew
Supply of investment-focused condominiums in the Tokyo metropolitan area rose 28.8% in the first half of 2026 from a year earlier, as developers expanded launches beyond central Tokyo and into more areas of Yokohama and Kawasaki, the Real Estate Economic Institute said on August 5.
A total of 46 projects comprising 2,401 units were supplied in January through June, up from 42 projects and 1,864 units a year earlier. The number of projects increased by four, or 9.5%, from a year earlier.
The average price per unit increased to 37.03 million yen from 34.34 million yen, while the average price per square meter rose to 1.456 million yen from 1.334 million yen. The average price per unit rose by 2.69 million yen, or 7.8%, from a year earlier, while the average price per square meter increased by 122,000 yen, or 9.1%.
Supply covered 27 areas across the capital region, up from 20 a year earlier. That included 13 wards in Tokyo’s 23-ward area, compared with eight in the same period of 2025, as well as one area in western Tokyo, 10 areas in Kanagawa Prefecture, two in Saitama Prefecture and one in Chiba Prefecture.
Yokohama’s Minami Ward was the largest supply area with 348 units, followed by Tokyo’s Koto Ward with 188 units and Ota Ward with 182 units. Yokohama’s Kanagawa Ward ranked fourth with 176 units and Hodogaya Ward fifth with 172 units. The top five areas accounted for 44.4% of total supply, down from 54.1% a year earlier.
Across Yokohama as a whole, supply totaled 958 units in seven wards. Kawasaki recorded 194 units across three wards.
The average exclusive floor area per unit was 25.43 square meters, down 1.2% from 25.74 square meters a year earlier. Units priced at 25 million yen or less almost disappeared from the market, with only two units in that price band, representing 0.1% of supply, compared with 121 units and a 6.5% share a year earlier.
By developer, FJ Next ranked first with 455 units, followed by Invalance with 360, NST with 324, Property Agent with 224 and Syla with 188. The top five developers accounted for 64.6% of supply, down from 71.6% a year earlier.
The institute also released full-year 2025 market data together with the first-half 2026 figures, but the August 5 press release detailed the January-June 2026 results.
Japan’s investment apartment market typically consists of compact condominium units sold to individual investors seeking rental income and tax-related benefits. In the Tokyo area, supply patterns are strongly influenced by land acquisition conditions in the 23 wards, where sites for new development are limited.
The institute said Yokohama and Kawasaki are likely to continue maintaining a high share of supply because competition for land acquisition remains intense in Tokyo’s 23 wards.
AloJapan.com