Key facts
- Chiyoda Ward plans to request a five-year resale ban for units in an upcoming condominium project.
- The ward aims to curb soaring property values and speculative buying in central Tokyo.
- This is the ward's first direct request to an individual property developer for resale restrictions.
Chiyoda Ward, one of Tokyo's central districts, is planning to request that a new condominium project prohibit the resale of its units for five years. This initiative is a response to the significant increase in property values in the area, which are partly attributed to speculative buying. The ward's move is the first time it has directly approached a specific property developer with such a request, following a broader appeal to industry organizations in 2025. The Japanese government and its ruling Liberal Democratic Party are also considering measures to cool the property market, including potential tax hikes on short-term resales and other purchase restrictions.