Real Estate Market Trends in Tokyo's Bay Area ｜ 1Q FY 2026

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Looking at the overall performance of the Tokyo Bay Area during the current quarter (April to June 2026), the average transaction price per tsubo declined from JPY 7.02 million per tsubo in the previous quarter (January to March 2026) to JPY 6.57 million per tsubo. As a result, the average transaction price per tsubo fell to 93.6% of the previous quarter's level, indicating that the upward trend that had continued through the prior quarter has temporarily paused. Meanwhile, the number of transactions also decreased slightly, from 339 transactions in the previous quarter to 319 transactions in the current quarter. As large-scale condominium developments continue to be supplied in the Bay Area, transaction volumes have remained at relatively high levels over the past several years.

By area, transaction volumes decreased in the Shibaura Area, Shiodome/Hamamatsucho Area, Shinagawa/Konan Area, and Ariake/Odaiba Area. Transaction volumes remained unchanged in the Shinonome Area, increased slightly in the Toyosu Area and Tsukishima Area, and increased more noticeably in the Kachidoki Area and Harumi Area. Recent trends indicate that while some areas continue to experience a decline in transaction volumes, others have remained stable or recorded increases, demonstrating varying market dynamics across individual submarkets.

With respect to average transaction prices, the Shibaura Area, Shiodome/Hamamatsucho Area, and Shinonome Area recorded modest increases, while all other areas posted declines compared with the previous quarter. Nevertheless, all areas continue to maintain relatively high price levels. Ongoing demand for high-end residential properties in many districts has remained a key factor supporting average transaction prices.

Although both the average transaction price per tsubo and the number of transactions declined slightly from the previous quarter, the Tokyo Bay Area market as a whole continues to be supported by strong underlying demand, resulting in sustained transaction activity. Demand for premium-priced properties also remains robust, and market participants will continue to closely monitor future market trends. Supported in part by inbound demand, the Tokyo Bay Area continues to attract significant attention from both domestic and overseas buyers.

Property owners considering the sale of their real estate assets are encouraged to contact their nearest area sales center for further assistance.