Overview
- Chiyoda Ward on Tuesday asked developers behind a redevelopment condominium project, including Mitsubishi Estate Residence, to add contract clauses that ban resale for five years after handover.
- The ward also requested bans on multiple-unit purchases under the same name to prevent bulk buying by investors.
- The measure is a request not a law and applies to projects that will receive discretionary benefits such as floor-area ratio relaxations, meaning its effect depends on developers agreeing to the contract terms.
- The ward cited market data showing unusually high short-term resale activity in Chiyoda—Tokyo Kantei found a 4.92% resale rate within five years and average resale markups of about 62.6%—as the rationale for the move.
- Officials and industry groups have already taken related steps since 2025, and the ward plans to make similar requests for other eligible projects, a change that could alter developer contract practices and affect buyers, investors, and local rents.