Major real estate companies in Japan 2022, based on condominium buildings managed

As of March 2022, Nihon Housing Co., Ltd. managed over ten 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 ten thousand buildings managed, Tokyu Community Corporation ranked second among the leading real estate companies in Japan.

Property management of condominiums

In Japan, condominium owners are required to be members of 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 market for condominium management has been growing steadily in recent years.

Condominium market in Japan

There were more than 6.8 million condominium units in Japan, and the stock continues to grow. Every year, between 70 and 80 thousand new condominium units are put on the market. Prices for apartments for sale have increased significantly in the past years. In 2021, the average price per new unit sold in the Greater Tokyo Area reached a record 62 million yen. The metropolitan area surrounding Tokyo accounted for nearly half of the number of new condominiums in Japan.