In 2023, the average size per dwelling in Japan was 90.86 square meters. When broken down by prefecture, Toyama stood out as the prefecture with the largest average floor area per housing unit, while Tokyo 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 14 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.

Graph and download economic data for Residential Property Prices for Japan (QJPN628BIS) from Q1 1955 to Q4 2024 about Japan, residential, HPI, housing, price index, indexes, and price.

Key information about House Prices Growth

• Japan house prices grew 4.3% YoY in Nov 2024, following an increase of 2.0% YoY in the previous month.
• YoY growth data is updated monthly, available from Apr 2009 to Nov 2024, with an average growth rate of 1.9%.
• House price data reached an all-time high of 10.2% in Apr 2022 and a record low of -9.4% in Apr 2009.

In 2024, the average price of second-hand single-family homes in the Greater Tokyo Area in Japan amounted to around 42.6 million Japanese yen. The resale price of houses increased by 3.7 percent year on year.

Toyama was the Japanese prefecture with the largest average floor area per dwelling in 2023. Compared to an average floor space of around 140 square meters in Toyama Prefecture, the average dwelling in Tokyo covered a floor area of about 64 square meters.

Residential Property Prices in Japan increased 3.16 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Japan Residential Property Prices.

Japan JP: Standardised Price-Income Ratio: sa data was reported at 87.536 Ratio in 2024. This records a decrease from the previous number of 89.289 Ratio for 2023. Japan JP: Standardised Price-Income Ratio: sa data is updated yearly, averaging 113.262 Ratio from Dec 1960 (Median) to 2024, with 65 observations. The data reached an all-time high of 163.202 Ratio in 1973 and a record low of 73.471 Ratio in 2009. Japan JP: Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

In 2023, there were around 1.16 dwelling units per household in Japan, indicating that the number of housing units exceeded the number of households that year. The housing stock in Japan has continuously grown over the past decade.

Japan Avg Disbursements Per Household: All Household: Living data was reported at 242,336.000 JPY in Sep 2018. This records an increase from the previous number of 238,131.000 JPY for Jun 2018. Japan Avg Disbursements Per Household: All Household: Living data is updated quarterly, averaging 257,504.000 JPY from Mar 2000 (Median) to Sep 2018, with 75 observations. The data reached an all-time high of 292,227.000 JPY in Dec 2000 and a record low of 234,605.000 JPY in Sep 2016. Japan Avg Disbursements Per Household: All Household: Living data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.H056: Average Monthly Receipt and Disbursement per Households: All Households: Quarterly.

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 2024, Japanese households, including workers' and non-workers' households, spent on average about 20.1 thousand Japanese yen per month on housing. Housing expenditures also included costs for maintenance and repairs. The annual average of monthly expenditures of households on housing remained at the level of the previous year.

In 2023, detached houses built for sale in the Greater Tokyo Area in Japan had an average floor area of 98.1 square meters. Since 2014, the average floor area of ready-built single family homes in the area has slightly decreased.

Japan Housing Loan: Floating Interest Rate: City Banks data was reported at 2.475 % pa in Oct 2018. This stayed constant from the previous number of 2.475 % pa for Sep 2018. Japan Housing Loan: Floating Interest Rate: City Banks data is updated monthly, averaging 2.475 % pa from Jun 1987 (Median) to Oct 2018, with 377 observations. The data reached an all-time high of 8.500 % pa in Jan 1991 and a record low of 2.375 % pa in Sep 2006. Japan Housing Loan: Floating Interest Rate: City Banks data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M014: Mortgage Rate.

In 2018, the average total floor area of dwellings in Tokyo Prefecture in Japan was 65.18 square meters. Compared to other prefectures, housing units in Tokyo were the smallest on average.

In 2024, households in Japan spent on average over 12 thousand Japanese yen per month on eating out, which represented the category with the highest food expenditures. That year, the total average monthly expenditures of Japanese households on foodstuff exceeded 69 thousand yen.

Rent Inflation in Japan remained unchanged at 0.30 percent in May. This dataset includes a chart with historical data for Japan Rent Inflation.

In 2024, the monthly consumption expenditures per household in Tokyo Prefecture amounted to around 341,600 Japanese yen on average. In real terms, the monthly consumption expenditure of households in Tokyo declined by 0.8 percent.

In a survey conducted in Japan in 2022, the average amount of debt per household with children was 11.85 million Japanese yen. Households consisting of single mothers and a child below the age of 20 reported 2.47 million yen of debt on average.

Japan Average Rent: Tokyo: Shibuya-ku data was reported at 22,117.000 JPY/Tsubo in Oct 2018. This records an increase from the previous number of 21,939.000 JPY/Tsubo for Sep 2018. Japan Average Rent: Tokyo: Shibuya-ku data is updated monthly, averaging 19,415.500 JPY/Tsubo from Dec 1990 (Median) to Oct 2018, with 214 observations. The data reached an all-time high of 36,881.000 JPY/Tsubo in Dec 1990 and a record low of 16,904.000 JPY/Tsubo in May 2013. Japan Average Rent: Tokyo: Shibuya-ku data remains active status in CEIC and is reported by Miki Shoji Company Limited. The data is categorized under Global Database’s Japan – Table JP.P007: Office Average Rent: By Region.

Japan ARPH: Single Worker: NI: Debts for Houses and Land data was reported at 0.000 JPY in Mar 2018. This stayed constant from the previous number of 0.000 JPY for Dec 2017. Japan ARPH: Single Worker: NI: Debts for Houses and Land data is updated quarterly, averaging 0.000 JPY from Mar 2002 (Median) to Mar 2018, with 65 observations. Japan ARPH: Single Worker: NI: Debts for Houses and Land data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.H059: Average Monthly Receipt and Disbursement per Households: Single Worker Households: Quarterly.