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Japan House Price Index: Average price of existing condominium sales in Tokyo metropolitan area (10,000 Yen/ sq. m.)
Japan, Tokyo
Source: The Land Institute of Japan
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
| Q1 | Q2 | Q3 | Q4 | |
| 2024 | 2.35% | 1.54% | ||
| 2023 | 6.76% | -1.06% | 0.35% | -2.13% |
| 2022 | 1.65% | 2.02% | -1.63% | 5.08% |
| 2021 | -10.16% | 10.56% | -0.59% | 2.73% |
| 2020 | 3.77% | 0.81% | -0.11% | 5.96% |
| 2019 | 0.85% | 0.06% | -3.27% | 1.35% |
| 2018 | 2.34% | -1.83% | 0.66% | 3.09% |
| 2017 | -0.42% | 1.37% | 2.33% | 0.98% |
| 2016 | 2.09% | 1.25% | 1.41% | 1.86% |
| 2015 | 2.10% | -3.76% | 6.02% | 0.88% |
| 2014 | -1.08% | -2.48% | 1.70% | 4.00% |
| 2013 | -1.07% | -1.42% | -0.95% | 4.45% |
| 2012 | -3.84% | -0.05% | 0.52% | 1.05% |
| 2011 | 1.18% | 1.02% | 0.17% | 0.93% |
| 2010 | -1.88% | 1.28% | 0.76% | 2.33% |
| 2009 | 0.28% | -2.62% | -3.00% | -1.26% |
| 2008 | 2.80% | 1.49% | 0.52% | 5.55% |
| 2007 | 4.95% | 1.05% | 0.05% | 5.13% |
| 2006 | -1.35% | 0.77% | 2.57% | -0.58% |
| 2005 | 0.89% | 0.55% | 0.82% | 2.22% |
| 2004 | -0.72% | 2.87% | -0.43% | 0.28% |
| 2003 | 2.75% | 1.59% | -3.00% | 0.79% |
| 2002 | -1.93% | 2.22% | -4.43% | 0.00% |
| 2001 | 2.92% | -1.11% | -2.48% | -1.06% |
| 2000 | 1.53% | -2.13% | -2.29% | -2.63% |
| 1999 | -0.05% | -2.64% | -1.69% | -0.90% |
| 1998 | -0.13% | 1.37% | -2.76% | -4.33% |
| 1997 | -1.27% | -2.52% | -0.10% | -1.77% |
| 1996 | -9.63% | -7.77% | -0.10% | -0.10% |
| 1995 | 0.57% | -3.10% | -3.00% | -5.48% |
| 1994 | 0.93% | -0.91% | -2.05% | -4.49% |
| 1993 | -4.08% | -0.96% | -3.61% | -1.36% |
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.
Yearly change in house prices, nominal and inflation-adjusted
| Year | Inflation Adjusted | Nominal Change |
| 2023 | 3.75% | 6.44% |
| 2022 | 7.20% | 11.48% |
| 2021 | 1.45% | 2.27% |
| 2020 | 10.72% | 9.39% |
| 2019 | -1.08% | -0.27% |
| 2018 | 4.25% | 4.56% |
| 2017 | 4.31% | 5.36% |
| 2016 | 6.77% | 7.11% |
| 2015 | 5.09% | 5.30% |
| 2014 | 2.02% | 4.48% |
| 2013 | 0.90% | 2.50% |
| 2012 | -2.37% | -2.56% |
| 2011 | 3.33% | 3.11% |
| 2010 | 2.46% | 2.12% |
| 2009 | -6.47% | -8.03% |
| 2008 | 10.70% | 11.17% |
| 2007 | 11.56% | 12.27% |
| 2006 | 1.38% | 1.70% |
| 2005 | 4.54% | 4.12% |
| 2004 | 1.97% | 2.17% |
| 2003 | 2.04% | 1.64% |
| 2002 | -4.19% | -4.50% |
| 2001 | -1.80% | -2.94% |
| 2000 | -5.46% | -5.83% |
| 1999 | -5.20% | -6.26% |
| 1998 | -5.81% | -5.23% |
| 1997 | -5.56% | -3.91% |
| 1996 | -16.81% | -16.27% |
| 1995 | -10.65% | -11.03% |
| 1994 | -6.43% | -5.75% |
| 1993 | -9.68% | -8.82% |
The yearly changes table looks at the last quarter's/month's index values for a given year and compares it with the same quarter/month of the previous year to gauge the change in house prices during that given year.