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As of March 2024, Nihon Housing managed around **** thousand condominium buildings in Japan. Nihon Housing is a Japanese real estate company that was established in 1966 and provides property management for office and residential buildings. With approximately *** thousand buildings managed, Tokyu Community ranked second among the leading real estate companies in Japan.

Property management of condominiums

In Japan, condominium owners are required to join a management association. The associations are comprised of all unit owners in a building and hold regular meetings at which they make decisions about the property. The building association entrusts property managers such as Nihon Housing with the management of the building. The condominium management market has been growing steadily in recent years.

Condominium market in Japan

The number of condominium units in Japan hit the seven million mark in 2023, and the stock continues to grow. Every year, between ** and ** thousand new condominium units are put on the market. Prices for apartment units across Japan have been on an upward trend in the past years. In 2023, the average unit price for new condominiums sold in the Greater Tokyo Area rose significantly, also affecting prices for pre-owned condos. An increase in global investment fueled by a weak yen and low interest rates was one reason for the sudden increase in property prices.