Renoveru Report: Used Properties Outsell New Builds 2.2-to-1 as 'Used-Only' Becomes the Norm, Driven by New 'Mental Performance' Trend

Renoveru, Inc., which operates a renovation platform to promote the distribution and utilization of existing real estate stock, has released its 'Renoveru. User Report,' which summarizes performance data from its one-stop renovation service, 'Renoveru.'

**Summary of Findings:** - **Buyer Preference:** The proportion of buyers considering new properties has decreased, with over 80% of users selecting a used condominium as their first choice. - **Building Age:** The average age of renovated properties in the Tokyo metropolitan area is 36.5 years. - **Household Composition:** Couples and partners account for 40% of households, while the share of family households, who have a greater necessity to buy, increased to 34.0%. - **Age:** There is a growing trend of younger buyers. - **Cost:** The average renovation cost is ¥18.56 million for a full-order plan and ¥12.32 million for a selected plan. - **Area:** Nearly 60% of buyers choose Tokyo, while the proportions for Kanagawa and Saitama prefectures are increasing. - **Size:** The average area has slightly increased to 70 square meters. - **Motivation:** An increasing number of buyers are motivated by the feeling that 'rent is a waste' and a desire for 'asset formation.'

**Background:** In 2025, the number of new condominium units sold in the Tokyo metropolitan area was 21,962, the lowest since the 1973 oil shock. In contrast, the number of contracted used condominium sales reached 49,114, 2.2 times the supply of new units. At Renoveru, there is a growing tendency for users to consider used properties from the start, strengthening the 'used-only' trend.

**Analysis:** Amidst rising anxiety about daily life, the increased information available due to the spread of AI has led to decision fatigue. As a result, a 'mental performance' (menpa) mindset, which prioritizes psychological peace, is expanding. This consumer psychology is influencing housing decisions, strengthening needs such as 'wanting to make the right choice,' 'feeling secure by owning assets,' and 'improving quality of life and well-being.'

**Survey Overview:** - **Service:** One-stop service 'Renoveru.' for used condominium purchase and renovation. - **Area:** Direct operation areas (major areas in Kanto, Kansai, and Tokai regions). - **Period:** April 2023 to March 2026.

**Results:** - **Buyer Preference:** Over 80% of users choose 'used condominium' as their first choice from the beginning. - **Building Age:** The average age of contracted properties at handover in the Tokyo metro area is 36.5 years, which is older than the market average of 26.6 years. This is because, when prioritizing area, size, and budget, building age becomes a factor that expands options. - **Household Composition:** Family households make up 34.0%, single households 25.9%, and couples/partners 40.1%. Amid rising prices, the share of families, who have a higher necessity to move, grew (+3.7% YoY). - **Age:** While half of the users (52%) are in their 30s, the proportion of those in their 20s is trending upward, reaching 14.6% in 2025. This suggests a growing belief that 'early home acquisition is rational' during inflation. - **Cost:** The average cost for a full-order renovation is ¥18.56 million (incl. tax), and ¥12.32 million for a selected renovation. The cost for full-order plans increased by ¥2.36 million (+14.6% YoY), exceeding the rate of material cost inflation, reflecting a commitment to interior design and performance. More people see it as an investment in 'daily enrichment.' - **Area:** While Tokyo maintains a high share of purchase areas at 58.1%, Kanagawa Prefecture (26.6%, +3.3% YoY) and Saitama Prefecture (10.9%, +6.1% YoY) saw increases.