Sales of newly built condominiums in Fukuoka Prefecture fell by 18% in 2024, marking a sharp downturn driven by rising construction costs and rapid price increases. While demand for high-end properties in central Fukuoka remains strong, mid-priced units in suburban areas such as Onojo and Kasuga are struggling to attract buyers. Developers are delaying launches or reassessing pricing strategies, with supply also shrinking—new unit offerings dropped 15.4% to 3,990 units. Average unit prices in Fukuoka City have surged by approximately ¥14 million year-on-year, reaching ¥60.1 million. In the city’s Chūō Ward, the average price per tsubo has risen 45% in one year, now reaching ¥4.41 million. Real estate analysts warn of a prolonged market slowdown. Land prices are showing signs of stagnation, and affordability concerns are growing even among dual-income households. Source: Real Estate Economic Institute Co., Ltd. / Fukuoka Association of Real Estate Appraisers
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