National Condominium Market Trends
The Real Estate Economic Institute (不動産経済研究所) released their rankings for total units sold, and of the exclusive living area (combined unit area) by developers based on the supply for 2020. The target of the survey is newly built condominiums nationwide, including studio condominiums for investment and fixed-term land lease (leasehold) condominiums.
We will combine both reports, Total Units which was reported back February 24th and Total Exclusive Area reported April 8th, with our translations of both reports.
Our translation will be a condensed version of the original Japanese Reports. Our report will focus more so of the rankings of the developers nationwide with the summary of the data as a whole.
Nationwide sales decreased 15.2% to 59,907 units compare to the total units sold in 2019. COVID-19 played a large role in the output performance which was the lowest level 1976. The Tokyo metropolitan area decreased by 12.8% and the Kansai area decreased by 15.8%, while the Tokai and Chukyo areas increased by 15.8%. The average price was 49.71 million yen, up 3.8% from the previous year, which continues the trend for the increase in price for 4 consecutive years.
Top 20 Developer’s Ranking (2020)
|Developer||Kanto Region||Kansai Region||Other Regions||Nationwide|
|2||Nomura Real Estate||2,698||322||771||3,791|
|3||Sumitomo Real Estate||2,530||415||567||3,512|
|4||Mitsui Real Estate Residential||1,995||227||112||2,334|
|7||Daiwa House Kogyo||973||268||798||2,039|
|8||Mitsubishi Jisho Residence||1,354||109||304||1,767|
|9||Nippon Steel Kowa Real Estate||1,354||109||304||1,767|
|10||Tokyu Real Estate||1,023||443||83||1,549|
|12||Shin Nihon Construction||1,232||0||0||1,232|
|14||Open House Development||401||0||586||987|
|16||Kintetsu Real Estate||239||535||147||921|
Osaka Prefecture had a total of 9,088 units, which was a year to year decrease of 29.6%.
Total Exclusive Living Area
The target of this survey is newly built condominiums nationwide, including studio condominiums for investment and fixed-term land lease condominiums. Similar to the number of units ranking reported in February, the total effective area (exclusive living area) for sale is apportioned according to the business ratio for the purpose of confirming the supply scale by developer. The survey started in 2018 and this year marks the third annual report. According to the report, Nomura Real Estate, which was second in the previous year, was the top in the nation, with an exclusive supply area of 274,276 m². While the supply decline was prevalent due to the COVID-19, it took the lead by only reducing by 13,344 m² or 4.6% from the previous year (287,620 m²). Pressance Corporation, which ranked 4th in the previous year, increased its supply area by 17.4% from the previous year to 240,692 m², surpassing Sumitomo Real Estate, which was the leader for the two consecutive years in 2018 and 2019. Following Sumitomo Real Estate in 3rd place, and Mitsui Real Estate Residential in 4th place followed by Anabuki Kosan, which entered the top 5 with a significant increase in supply of 151,297 m², up 29.1% from the previous year.
Top 20 Developer’s Ranking (2020) Exclusive Living Area
Area by Square Meter (m²)
|Developer||Total Nationwide||Kanto Region||Kansai Region||Other Regions|
|1||Nomura Real Estate||274,276.1||193,368.0||23,196.4||57,711.7|
|3||Sumitomo Real Estate||240,544.3||175,586.6||22,943.6||42,014.2|
|4||Mitsui Real Estate Residential||179.,274.3||152,003.0||18,713.5||8,557.9|
|6||Mitsubishi Jisho Residence||148,777.3||115,651.5||9,777.8||23,348.0|
|7||Daiwa House Kogyo||143,382.5||66,090.0||17,902.9||59,389.7|
|8||Tokyu Real Estate||110,324.1||76,068.9||29,257.8||4,997.4|
|9||Nippon Steel Kowa Real Estate||105,359.5||65,653.0||33,364.6||6,342.0|
|13||Shin Nihon Construction||70,952.1||70,952.1||0||0|
|15||Kintetsu Real Estate||66,967.9||17,224.4||38,695.7||11,047.8|
|17||Hankyu Hanshin Real Estate||59,264.4||12,593.9||46,670.5||0|
A couple companies which made the Exclusive Living Area rankings and not the total sales ranking for 2020;
- Tokyo Tatemono
- Hankyu Hanshin Real Estate (the developer for the Geo Condominium brand)
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