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In 2023, there were close to **** thousand new condominium units in Japan. This constituted a decrease from around ** thousand units in the previous year. In the past decade, the supply of new condominium units was the highest in 2014 at **** ³Ù³ó´Ç³Ü²õ²¹²Ô»å.Ìý

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 almost two-thirds of the supply of new condominiums in Japan. Condominium prices have been on an upward trend recently. The average price per square meter of new apartment units was the highest in the Greater Tokyo Area. Amid rising property prices across Japan, pre-owned condominiums also saw a price increase.