Glossary
Tsubo (3.3 sqm area unit)
The traditional Japanese area unit equal to about 3.3 square meters, still used to quote land and price-per-area.
One tsubo is roughly 3.3 square meters, historically the size of two tatami mats. Even though contracts and registrations use square meters, the trade still talks in tsubo — land prices, build costs, and rough yardsticks are quoted per tsubo (tsubo-tanka). To convert, multiply tsubo by 3.3 to get square meters, or divide square meters by 3.3 to get tsubo. Watch for it when comparing listings: a price that looks low per tsubo and a price per square meter aren't directly comparable, and sloppy or deliberately confusing quoting between the two units is a common way to make a number look better than it is.
Tokyo prices per tsubo, 2026 (computed from official figures)
| Figure | Value | Source period |
|---|---|---|
| Official residential land price, Chiyoda (highest of the 23 wards) | ¥3,631,400 / ㎡ → ≈ ¥12.00M / tsubo | 2026 chika koji, Jan 1, 2026 |
| Official residential land price, 23-ward average | ¥856,400 / ㎡ → ≈ ¥2.83M / tsubo | 2026 chika koji, Jan 1, 2026 |
| Official residential land price, Katsushika (lowest of the 23 wards) | ¥387,500 / ㎡ → ≈ ¥1.28M / tsubo | 2026 chika koji, Jan 1, 2026 |
| Official commercial land price, Chuo (highest of the 23 wards) | ¥11,385,400 / ㎡ → ≈ ¥37.64M / tsubo | 2026 chika koji, Jan 1, 2026 |
| Resale condo contract price, 23-ward average | ¥1,326,900 / ㎡ → ≈ ¥4.39M / tsubo | REINS, August 2026 |
| New condo price, 23-ward average | ¥2,122,000 / ㎡ → ≈ ¥7.01M / tsubo | Real Estate Economic Institute, August 2026 |
| Family-type condo asking rent, 23-ward average | ¥5,170 / ㎡ / month → ¥17,091 / tsubo / month | Tokyo Kantei, August 2026 (units ≥30㎡) |
Conversion: 1 tsubo = 400/121 ㎡ ≈ 3.3058 ㎡ (multiply a per-㎡ price by 3.3058 to get the per-tsubo price). Land prices are official standard-site averages for land only; condo figures include the building and a share of the land, so the two are not comparable with each other. See Tokyo 23 Wards Property Data 2026.
Sources: 東京都財務局 — 令和8年地価公示 (2026 official land prices, Tokyo); REINS — Market Watch, August 2026; 不動産経済研究所 — 首都圏新築分譲マンション市場動向 2026年8月; 東京カンテイ — 分譲マンション賃料 2026年8月.