For the third consecutive year, the price of apartments in Tokyo's 23 wards has exceeded 100 million yen. This continuity further cements Tokyo as a global hotspot for luxury real estate. The high rate of urbanization, limited availability of land, and increasing demand for luxury apartments are driving things up. While this trend is a boon to property owners and real estate developers, it poses barriers to many residents struggling with affordability.

In Japan, property values particularly in Tokyo's metropolitan area, have significant importance given its status as the world's most populated city. Real estate prices often reflect the overall health of Japan's economy and people's living standards. The trend of soaring apartment prices highlights the risks of wealth disparity and may prompt discussions about urban planning and economic policy.

In the US or EU, high real estate prices in major cities aren't uncommon. However, public intervention in the form of affordable housing schemes or rent control measures is more pronounced to ensure that residents are not unduly displaced.