根據東京不動產調查機構KANTEI於2026 年1月22日公布的最新統計資料顯示，2025年的東京房地產市場確實寫下多項前所未見的歷史紀錄，也再次凸顯東京作為全球一線城市，其住宅市場的結構性變化與資金動向。

報告指出，以「東京23區二手住宅、換算為70平方公尺標準戶型」作為統計基準，2025年的平均期望售價正式突破 1 億日圓門檻，來到約1億393萬日圓。這不僅象徵東京住宅正式邁入「均價破億」時代，也代表中產階級過去尚能負擔的核心區住宅，正快速轉向高資產族群專屬市場，對首購族與年輕家庭形成明顯壓力。

更令人矚目的是價格漲幅本身。與2024年相比，2025年東京23區二手住宅的年增率高達34.6%，創下自1997年KANTEI開始統計以來的最高年度漲幅紀錄。這樣的成長速度，在成熟的大型都市房市中極為罕見，也顯示該波行情並非單純的緩步上行，而是明顯帶有資金推動與結構性重估的特徵。

從區域來看，此波房價飆升的主要動力，集中在東京最核心的都心地段，尤其是千代田區、中央區與港區。這些地區近年陸續推出多棟超高層豪華公寓，新案動輒以極高單價進場，不僅拉高整體平均值，也進一步推升周邊既有二手住宅的市場心理預期。即便是原本定位為「中產住宅」的物件，在豪宅效應與供給稀缺的雙重影響下，價格也被明顯向上拉抬。

在整體市場氛圍上，儘管房價漲幅驚人，但交易熱度並未明顯降溫。報告認為，這與日圓匯率長期偏弱、海外資金持續流入高度相關。對國際投資人而言，東京核心區房產同時具備資產保值、出租需求穩定以及法律制度透明等優勢，使其在全球主要城市中依然具備相對吸引力。加上東京都心土地供給高度受限，進一步強化「稀缺性溢價」。

整體而言，2025年東京房地產市場已明確進入一個全新的價格區間。對高資產族群與國際投資者來說，東京仍是極具吸引力的資產配置標的；但對一般自住買方而言，住宅負擔能力與階級分化問題，勢必將成為未來數年東京城市發展與政策討論中的關鍵議題。

According to the latest statistics released by Tokyo-based real estate research firm KANTEI on January 22, 2026, Tokyo’s property market in 2025 did indeed set multiple unprecedented records, once again highlighting the structural changes and capital flows shaping the housing market of this global megacity.

The report shows that, using second-hand residential units in Tokyo’s 23 wards converted to a standard size of 70 square meters as the benchmark, the average asking price in 2025 officially surpassed the 100 million yen threshold, reaching approximately 103.93 million yen. This milestone marks Tokyo’s entry into the “100-million-yen average” era and signals a profound shift in the housing landscape. Homes that were once within reach of the middle class in central areas are rapidly becoming the domain of high-net-worth individuals, placing increasing pressure on first-time buyers and young families.

Even more striking is the scale of the price increase itself. Compared with 2024, average prices for second-hand homes in Tokyo’s 23 wards surged by 34.6% in 2025, the highest annual growth rate since KANTEI began compiling statistics in 1997. Such a sharp rise is rare in a mature, large-scale urban property market and suggests that this upswing is not merely gradual appreciation, but rather a pronounced revaluation driven by capital inflows and structural market forces.

From a regional perspective, the primary engine behind this price surge lies in Tokyo’s most central districts, particularly Chiyoda, Chuo, and Minato. In recent years, these areas have seen the launch of multiple ultra-high-rise luxury condominiums, often entering the market at exceptionally high prices. These premium developments have not only pushed up overall averages, but have also lifted price expectations for surrounding second-hand properties. As a result, even homes traditionally positioned as “middle-class housing” have been pulled upward in value under the combined effects of luxury spillover and limited supply.

In terms of overall market sentiment, transaction activity has remained strong despite the dramatic price increases. The report attributes this resilience largely to sustained yen weakness and continued confidence from overseas investors. For international buyers, prime Tokyo properties offer a compelling mix of asset preservation, stable rental demand, and a transparent legal framework, making them attractive relative to other global cities. At the same time, severe land supply constraints in central Tokyo further reinforce the premium associated with scarcity.

Taken as a whole, Tokyo’s real estate market in 2025 has clearly entered a new price bracket. While Tokyo remains an appealing asset allocation target for high-net-worth individuals and international investors, housing affordability and widening social stratification are likely to become central issues in urban development debates and policy discussions in the years ahead.