The purpose of this study is to clarify the effect of the apartment vacancy rate of the locality on the price of pre-owned condominiums, using SUUMO and ZENRIN Data. The results of the study are as follows. When the apartment vacancy rate of the locality increases, there is no significant effect on the price of pre-owned condominiums in the 23 wards of Tokyo, Osaka City, Nagoya City, and Sapporo City. However, there is a significant positive effect on the price of those in Sendai City and Fukuoka City. It can be concluded that the apartment vacancy rate of the locality has a localized effect on the price of pre-owned condominiums.
