In 2022, there were close to 73 thousand new condominium units in Japan. This constituted a decrease from around 77.6 thousand units in the previous year. The figure had reached a peak in 2013, when the supply of new condominium units reached 105 thousand.
The history of condominiums in Japan
During the period of rapid economic growth in the 1960s, public housing apartment buildings made of concrete, called Danchi, gained increasing popularity in Japan. This also meant a shift away from multi-generational households to nuclear family households. As a part of this development, construction companies started to build the first condominiums, followed by the first condominium boom in the mid-1960s. Today the number of residential condominiums in Japan is still growing.
The condominium market in Japan
Greater Tokyo and Greater Osaka together accounted for around two-thirds of the supply of new condominiums in Japan. The average price per square meter of new apartment units was the highest in the metropolitan area of Tokyo. Greater Osaka followed with a per square meter price of 774 thousand Japanese yen. Amid rising property prices across Japan, pre-owned condominiums also saw a price increase.
Number of new condominium units in Japan from 2013 to 2022
(in 1,000s)
Characteristic
Number of units in thousands
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Mitsui Fudosan. (September 1, 2023). Number of new condominium units in Japan from 2013 to 2022 (in 1,000s) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/668124/japan-condominium-unit-sales/
Mitsui Fudosan. "Number of new condominium units in Japan from 2013 to 2022 (in 1,000s)." Chart. September 1, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/668124/japan-condominium-unit-sales/
Mitsui Fudosan. (2023). Number of new condominium units in Japan from 2013 to 2022 (in 1,000s). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/668124/japan-condominium-unit-sales/
Mitsui Fudosan. "Number of New Condominium Units in Japan from 2013 to 2022 (in 1,000s)." Statista, Statista Inc., 1 Sep 2023, https://www.statista.com/statistics/668124/japan-condominium-unit-sales/
Mitsui Fudosan, Number of new condominium units in Japan from 2013 to 2022 (in 1,000s) Statista, https://www.statista.com/statistics/668124/japan-condominium-unit-sales/ (last visited July 22, 2024)
Number of new condominium units in Japan from 2013 to 2022 (in 1,000s) [Graph], Mitsui Fudosan, September 1, 2023. [Online]. Available: https://www.statista.com/statistics/668124/japan-condominium-unit-sales/