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Financial Overview Property in Japan
  • Overview
  • House Prices
  • Market in Depth
  • Rental Yields
  • Taxes and Costs:
  • Income Tax et al
  • Tax Example
  • Taxes if Resident
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  • Property Investments
Where to Buy
  • Survey of Japan
  • Chiyoda
  • Hokkaido
  • Kyushu
  • Shibuya
  • Shinjuku
  • Tokyo
Key Contacts
  • Accountants
  • Lawyers
  • Real Estate Agents

Japan

  1. Home
  2. Asia
  3. Japan
  4. Home Price Trends

Japanese Home Prices, Graphed as Time-Series

More JP

Japan

Financial Overview: Property in Japan

  • Overview
  • House Prices
  • Market in Depth
  • Rental Yields
  • Income Tax et al
  • Tax Example
  • Taxes if Resident
  • Buying Guide
  • Landlord and Tenant
  • Property Inheritance
  • Country Statistics
  • Property Investments

Where to Buy

  • Survey of Japan
  • Chiyoda
  • Hokkaido
  • Kyushu
  • Shibuya
  • Shinjuku
  • Tokyo

Key Contacts

  • Accountants
  • Lawyers
  • Real Estate Agents

Average price of existing condominium sales in Tokyo Metropolitan Area (JPY 10,000 per sq. m.)

February, 24, 2021

Japan, Tokyo

Apartment prices in Tokyo, Japan. The Land Institute of Japan publishes a monthly bulletin with average prices of existing condominium sales in Tokyo and Osaka. It started in 2004. The Japan Real Estate Institute (JREI) releases a semi-annual urban land price index coving the major cities, from 1955. For Tokyo, up to date figures are also published by Akasaka Real Estate.  

Apartment prices in Tokyo, % change 1 yr

Nominal and inflation-adjusted ('real')

Japan, Tokyo

Source: The Land Institute of Japan


Quarterly change in house prices, inflation-adjusted

 Q1Q2Q3Q4
2020-1.16-0.854.353.68
20192.94-2.331.681.65
20180.53-0.29-1.772.2
2017-0.80.361.841.79
20165.25-0.212.81.16
20150.98-0.461.97-1.3
20142.82-0.28-0.666.33
20133.50.221.59-1.45
2012-0.94-1.92-0.182.09
2011-2.82-1.790.680.42
20100.2-0.33.061.97
2009-2.511.38-0.772.97
2008-1.570.12-3.940.53
20073.891.693.730.92
20060.720.431.45.57
20052.721.87-0.412.97
20040.793.560.24-2.09
20030.76-0.69-0.660.48
2002-1.891.06-1.782.04
2001-1.52-1.48-0.611.99
2000-0.15-0.85-2.080.94
19990.520.32-2.22-2.83
1998-1.57-3.8-1.29-0.2
19970.91-5.49-0.11-2.02
19961.21-0.12-3.350.15
1995-9.12-5.38-4.42-2.67
1994-2.66-1.3-5.27-2.71
1993-2.51-0.55-3.11-0.44
1992-2.230.45-2.43

This table shows the change in house prices during a single quarter, adjusted for inflation.

Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers.


House prices in Japan compared to the rest of the continent

  • House price per sq.m.
  • Change in house prices, 1 year
  • Change in house prices, 5 years
  • Change in house prices, 10 years
  • Price / Rent ratio
  • Price / GDP per capita, national

Your Guide to House Price Statistics
  • Adjusting for inflation

    Most agents overstate the upward movement in house prices. That's because their house price figures are nominal, i.e., not adjusted for inflation. If house prices have risen by 5% during the past year, but inflation has been 5%, the real increase in the value of the house has been zero.

    That's why our graphs show house price changes both nominal and real.

    Nominal house price changes = the figures published by most official statistical sources.

    Real house price changes = house price changes after adjusting for inflation.

  • House price statistics elsewhere

    We generally use Central Bank or National Statistical Institute data. But occasionally, we use data generated by realtors.

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