New condo releases in Tokyo area expected to increase in 2023

Not enough supply. New condo sales are all on a lottery system where you have lower than 1/10 chance to even have the opportunity to buy. This suggests a deeply underpriced market that would drive price growth for next decade.

70% live in condos and only 45% own their own home.

Wallace,lots of condos in America,are self contained,you can go to the gym , anytime of the night ,go swimming on the 10th floor,have your own parking place,have access to an ATM and armed 24 hour security

Contrary to the overall trend, Saitama Prefecture is expected to see a major drop of 16.7 percent to 4,000 units after sharp gains in 2022.

Land is plentiful in Saitama. If I move there, then I am thinking about purchasing a house with a decent plot of land for a garden to grow and for kids to play. The same is true in Ibaraki and certain parts of Chiba.

You have even better choices if you do not work or go to school in Tokyo!

@Yrral

Wallace,lots of condos in America,are self contained,you can go to the gym , anytime of the night ,go swimming on the 10th floor,have your own parking place,have access to an ATM and armed 24 hour security

How would you know? You are not even an American!

Yrral

I own a condo in America, valued at $250,000, a large 2-bed 2-bath. Condo in Tokyo. the 2021 average sales price of a newly constructed condominium sold in the Tokyo 23 Wards was ¥82,930,000 ($729,000 USD), which was the first time in 30 years that the price had exceeded the 80 million yen mark.

At the same time, the government is paying people to move out of Tokyo to repopulate small towns that are dying. Will this affect the price? Maybe not. I have also heard that lots of the condos are being bought by foreigners, especially Chinese who need a place outside of China to park their money.

At the same time, the government is paying people to move out of Tokyo to repopulate small towns that are dying. Will this affect the price? Maybe not. I have also heard that lots of the condos are being bought by foreigners, especially Chinese who need a place outside of China to park their money.

Maybe the plan is to replace the citizens with high-rolling foreigners willing to pay a premium to live comfortably in Tokyo, Japan. Tokyo already has one billionaire Chinese resident (Alibaba). They will have fewer children and less likely to depend on the government while also paying taxes!

The Japanese government wants people paying for insurance and pensions that they will never use unlike the Japanese residents!

Japan is cheap in comparison to other Major Cities - London, & New York as an example.