A refrigeration cycle apparatus comprising a refrigerant circuit including an outdoor heat exchanger configured to cause heat exchange between outdoor air and a refrigerant and a compressor configured to discharge a compressed refrigerant, the refrigerant circuit configured to achieve a vapor compression refrigeration cycle while the outdoor heat exchanger functions as a condenser, wherein the outdoor heat exchanger includes an inlet port where a refrigerant flow into the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, an outlet port where a refrigerant flow out the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, a plurality of heat exchange paths (P1 to P8) including a plurality of heat transfer tubes configured to cause the refrigerant flowing in through the inlet port upon the heat exchange to be distributed and flow in parallel, a junction flow passage disposed between the plurality of heat exchange paths and the outlet port and configured to cause refrigerants flowing from the plurality of heat exchange paths to the outlet port to join and then flow therein, and a branching passage, the plurality of heat exchange paths include a first path disposed in a lower portion of the outdoor heat exchanger, and a second path disposed above the first path, the junction flow passage is configured to cause refrigerants having passed at least the first path and the second path to join and then flow therein, the branching passage has a first end connected to the first path and a second end connected to the junction flow passage, characterized in that the branching passage includes a capillary tube, and the outdoor heat exchanger is, with use of the capillary tube, configured to be increased in flow rate ratio of the refrigerant flowing to the branching passage to the flow rate of the refrigerant flowing to the first path upon decrease in load. the outdoor heat exchanger includes an inlet port where a refrigerant flow into the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, an outlet port where a refrigerant flow out the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, a plurality of heat exchange paths (P1 to P8) including a plurality of heat transfer tubes configured to cause the refrigerant flowing in through the inlet port upon the heat exchange to be distributed and flow in parallel, a junction flow passage disposed between the plurality of heat exchange paths and the outlet port and configured to cause refrigerants flowing from the plurality of heat exchange paths to the outlet port to join and then flow therein, and a branching passage, an inlet port where a refrigerant flow into the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, an outlet port where a refrigerant flow out the outdoor heat exchanger when the outdoor heat exchanger functions as a condenser, a plurality of heat exchange paths (P1 to P8) including a plurality of heat transfer tubes configured to cause the refrigerant flowing in through the inlet port upon the heat exchange to be distributed and flow in parallel, a junction flow passage disposed between the plurality of heat exchange paths and the outlet port and configured to cause refrigerants flowing from the plurality of heat exchange paths to the outlet port to join and then flow therein, and a branching passage, the plurality of heat exchange paths include a first path disposed in a lower portion of the outdoor heat exchanger, and a second path disposed above the first path, the junction flow passage is configured to cause refrigerants having passed at least the first path and the second path to join and then flow therein, the branching passage has a first end connected to the first path and a second end connected to the junction flow passage, characterized in that the branching passage includes a capillary tube, and the outdoor heat exchanger is, with use of the capillary tube, configured to be increased in flow rate ratio of the refrigerant flowing to the branching passage to the flow rate of the refrigerant flowing to the first path upon decrease in load.