New apartment prices in the Tokyo metropolitan area have reached an all-time high, exceeding 100 million yen (approximately $615,000 USD) for the first time. This milestone was achieved in the first half of 2026, signaling a significant shift in the Japanese real estate market. The average price increase reflects strong demand and potentially limited supply in the capital city. Experts attribute this surge to a combination of economic factors and ongoing urbanization. The record-breaking prices are impacting affordability for potential homebuyers. This trend is closely watched as an indicator of the overall health of the Japanese economy and housing sector.