In 2024, the average price of second-hand single-family homes in the Greater Tokyo Area in Japan amounted to around **** million Japanese yen. The resale price of houses increased by *** percent year on year.

Japan Home Price Index: Used Condominium: Tokyo data was reported at 99.470 Jan2000=100 in Aug 2018. This records an increase from the previous number of 98.690 Jan2000=100 for Jul 2018. Japan Home Price Index: Used Condominium: Tokyo data is updated monthly, averaging 91.150 Jan2000=100 from Jun 1993 (Median) to Aug 2018, with 303 observations. The data reached an all-time high of 190.670 Jan2000=100 in Jun 1993 and a record low of 79.710 Jan2000=100 in Jan 2005. Japan Home Price Index: Used Condominium: Tokyo data remains active status in CEIC and is reported by Japan Real Estate Institute. The data is categorized under Global Database’s Japan – Table JP.EB013: Home Price Index.

In July 2025, the average price per square meter of existing condominium units sold in the Greater Tokyo Area in Japan amounted to ******* Japanese yen. This was the highest price per square meter in the observed period.

In 2023, the average size per dwelling in Japan was ***** square meters. When broken down by prefecture, ****** stood out as the prefecture with the largest average floor area per housing unit, while ***** had the smallest average floor area in the same year. Real estate in Japan The real estate industry is an important pillar of the Japanese economy and ranked as the third-largest industry in Japan in terms of value added in 2022. Despite this, the number of unoccupied dwellings in Japan has been steadily increasing for over thirty years. Many unoccupied homes are empty and abandoned. This trend can be attributed to two primary factors: the aging of the population and the challenges faced by empty house owners in managing and utilizing properties, as most of these homes are either managed by older individuals or family inheritance. Housing in Tokyo The monthly residential property price index in Tokyo Prefecture has experienced a significant upward trend in the past years. Tokyo holds the largest population in Japan, with approximately ** million inhabitants, making it the world’s largest urban agglomeration. The city’s appeal lies in its many renowned universities and corporate headquarters, which draws migrants from other prefectures, particularly young individuals. However, Japan is currently experiencing an investment boom in real estate, fueled by overseas investment. This has resulted in central Tokyo apartments becoming less affordable for many people.

Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Medium Sized Non Wooden data was reported at 97.800 2005=100 in Jul 2011. This stayed constant from the previous number of 97.800 2005=100 for Jun 2011. Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Medium Sized Non Wooden data is updated monthly, averaging 96.100 2005=100 from Jan 1970 (Median) to Jul 2011, with 499 observations. The data reached an all-time high of 104.600 2005=100 in Dec 1994 and a record low of 39.900 2005=100 in Feb 1970. Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Medium Sized Non Wooden data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I036: Consumer Price Index: Tokyo: 2005=100.

In 2025, the average land price in Tokyo Prefecture stood at about *** million Japanese yen per square meter. The average land price is based on land price surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism and prefectural governments in January and July each year.Average land prices in JapanAverage land prices in Japan showed an upward trend in recent years that was interrupted during the coronavirus pandemic. Partly due to the ongoing depopulation trend in many rural areas, land prices tend to be significantly higher in the more urban areas. Among all the prefectures in Japan, ***** had the highest average official land prices, followed by ***** and *****. The buildings with the highest commercial land prices in Japan were all located in the ************.The situation in TokyoWithin Tokyo, the wards Chiyoda, Chuo, Minato, Shibuya, and Shinjuku form the central business district, which is marked by particularly high rents and low vacancy rates. Among the 23 wards of the city, **** had the highest standard land price in 2025. The ward lies to the east of Tokyo Station and encompasses Ginza, which is one of the country’s most expensive shopping areas. Japan’s booming tourism industry, as well as rebuilding and redevelopment projects, and increased interest from overseas investors, have been some of the factors contributing to rising land prices in Tokyo’s commercial areas.

In 2024, around **** thousand second-hand single-family homes were sold in the Greater Tokyo Area in Japan. The number of used detached houses sold rose by *** percent year on year. At the same time, the average price of second-hand homes sold increased by *** percent.

We analyze the impact of short-run (90 days) and long-run (30 years) earthquake risk on real estate transaction prices in five Japanese cities (Tokyo, Osaka, Nagoya, Fukuoka, and Sapporo), using quarterly data over the period 2006–2015. We exploit a rich panel dataset (331,343 observations) with property characteristics, ward attractiveness information, macroeconomic variables, and long-run seismic hazard data, supplemented with short-run earthquake probabilities generated from a seismic excitation model using historical earthquake occurrences. We design a hedonic property price model that allows for subjective probability weighting, employ a multivariate error components structure, and develop associated maximum likelihood estimation and variance computation procedures. Our approach enables us to identify the total compensation for earthquake risk embedded in property prices, to decompose this into pieces stemming from short-run and long-run risk, and to distinguish between objective and subjectively weighted (“distorted”) earthquake probabilities. We find that objective long-run earthquake probabilities have a statistically significant negative impact on property prices, whereas short-run earthquake probabilities become statistically significant only when we allow them to be distorted. The total compensation for earthquake risk amounts to an average –2.0% of log property prices, slightly more than the annual income of a middle-income Japanese household. Supplementary materials for this article, including a standardized description of the materials available for reproducing the work, are available as an online supplement.

In January 2025, Tokyo Prefecture recorded the highest average official land price of all ** prefectures in Japan, at around *** million Japanese yen per square meter. It was followed by Osaka Prefecture with an average official land price of ******* yen per square meter.

In 2023, detached houses built for sale in the Greater Tokyo Area in Japan had an average floor area of **** square meters. Since 2014, the average floor area of ready-built single family homes in the area has slightly decreased.

Tokyo's district Chuo had the highest average official land price in 2025, with about *** million Japanese yen per square meter. Next to Chiyoda, Shibuya, Minato, and Shinjuku, Chuo is one of five central business districts in Japan's capital.

Japan TSE: C: Average: PE Ratio: Real Estate data was reported at 12.100 Times in Apr 2025. This records an increase from the previous number of 11.600 Times for Mar 2025. Japan TSE: C: Average: PE Ratio: Real Estate data is updated monthly, averaging 8.800 Times from Apr 2022 (Median) to Apr 2025, with 37 observations. The data reached an all-time high of 12.100 Times in Apr 2025 and a record low of 6.800 Times in Jun 2023. Japan TSE: C: Average: PE Ratio: Real Estate data remains active status in CEIC and is reported by Japan Exchange Group Inc.. The data is categorized under Global Database’s Japan – Table JP.Z: Tokyo Stock Exchange: Price Earnings Ratio. [COVID-19-IMPACT]

In 2024, the average price of second-hand condominiums in the Greater Tokyo Area in Japan amounted to around **** million Japanese yen, up by *** percent compared to the previous year. The resale price per square meter increased by *** percent year on year.

In March 2024, the average monthly rent for one-room apartments in the Greater Tokyo Area in Japan amounted to around **** thousand Japanese yen. The average rent for 2LDK to 3DK apartments increased to ***** thousand yen per month. 2LDK is a Japanese real estate term that describes an apartment with a living, dining, and kitchen area and two separate rooms.

As of December 2023, the JREI Home Price Index for existing condominiums in Kanagawa Prefecture, Japan, stood at around ***** index points. Compared to the previous year, the index increased by roughly *** percent.Besides, the JREI publishes home price indices for Tokyo, Chiba, and Saitama Prefectures, as well as a composite index for the Tokyo Metropolitan Area as a whole.

The average price per new condominium unit in the Greater Tokyo Area amounted to **** million Japanese yen in 2024. The average price per unit decreased by *** percent compared to the previous year.

In 2023, the average price per tsubo in the Greater Tokyo Area amounted to around *** million Japanese yen. The average price per tsubo in Tokyo's 23 wards rose to over ************ yen that year.

Japan Consumer Price Index (CPI): TKY: W: Housing: Rent: Imputed Rent: Medium Sized Wooden data was reported at 1,049.000 Per 10TH in Jun 2011. This stayed constant from the previous number of 1,049.000 Per 10TH for May 2011. Japan Consumer Price Index (CPI): TKY: W: Housing: Rent: Imputed Rent: Medium Sized Wooden data is updated monthly, averaging 1,049.000 Per 10TH from Jul 2006 (Median) to Jun 2011, with 59 observations. The data reached an all-time high of 1,049.000 Per 10TH in Jun 2011 and a record low of 1,049.000 Per 10TH in Jun 2011. Japan Consumer Price Index (CPI): TKY: W: Housing: Rent: Imputed Rent: Medium Sized Wooden data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I278: Consumer Price Index: Tokyo: 2005=100: Weight.

In 2024, the average price per square meter of land transactions in the Greater Tokyo Area in Japan amounted to *** thousand Japanese yen. The price per square meter rose by *** percent compared to the previous year.

Tokyo's district **** ward had the highest standard land price in 2025, with over *** million Japanese yen per square meter. Chuo is one of five central business districts in Japan's capital. Over ******* people live in the district located in the Eastern part of the city. The average land price in Tokyo Prefecture increased in 2025.