Graph and download economic data for Residential Property Prices for Japan (QJPN628BIS) from Q1 1955 to Q1 2025 about Japan, residential, HPI, housing, price index, indexes, and price.

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.

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.

Residential Property Prices in Japan increased 5.38 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Japan Residential Property Prices.

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.

Housing Index in Japan increased to 136.79 points in July from 134.33 points in June of 2025. This dataset provides - Japan Construction Starts - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In March 2025, the preliminary residential property price index in Japan stood at *****. The residential property price index comprises residential land, detached houses, and condominiums.

House price index in Japan, March, 2025 The most recent value is 145.35 index points as of Q1 2025, an increase compared to the previous value of 137.71 index points. Historically, the average for Japan from Q1 1990 to Q1 2025 is 128.44 index points. The minimum of 97.71 index points was recorded in Q2 2009, while the maximum of 182.79 index points was reached in Q1 1991. | TheGlobalEconomy.com

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.

The house price to income ratio in Japan amounted to ****** points in the first quarter of 2025. This is higher than the observation from the first quarter one year earlier, when the ratio had been ****** points.

View quarterly updates and historical trends for Japan Real House Price Index. Source: Federal Reserve Bank of Dallas. Track economic data with YCharts an…

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.

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.

Real residential property prices Y-on-Y, percent change in Japan, March, 2025 The most recent value is 0.98 percent as of Q1 2025, an increase compared to the previous value of -0.14 percent. Historically, the average for Japan from Q1 1990 to Q1 2025 is -0.84 percent. The minimum of -6.33 percent was recorded in Q3 1992, while the maximum of 12.35 percent was reached in Q3 1990. | TheGlobalEconomy.com

Japan JP: Price to Rent Ratio: sa data was reported at 132.703 2015=100 in 2024. This records an increase from the previous number of 129.382 2015=100 for 2023. Japan JP: Price to Rent Ratio: sa data is updated yearly, averaging 125.671 2015=100 from Dec 1970 (Median) to 2024, with 55 observations. The data reached an all-time high of 185.251 2015=100 in 1991 and a record low of 91.768 2015=100 in 2009. Japan JP: Price to Rent 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 rent price indices

In 2025, the average land price in Japan amounted to ******* 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. Japan’s geography The Japanese archipelago consists of the five main islands of Honshu, Hokkaido, Kyushu, Shikoku, and Okinawa in addition to thousands of smaller islands. Together, they cover a surface area of around ******* square kilometers. ************** of the country’s land area is covered by mountains. Forestland and farmland constitute about ** percent of its landmass, while developed land accounts for **** percent. The population of *** million is concentrated in major cities like Tokyo, which is home to over **** million inhabitants. Urban-rural divide and land prices Owing to an overconcentration of economic activity in Tokyo and other major cities like Osaka and Nagoya, more than half of the population is located in ***** metropolitan areas. Tokyo and its surrounding prefectures that comprise the Tokyo metropolitan area attract many people from other parts of the country each year, often young individuals seeking jobs or starting university. In contrast, rural regions are confronted with depopulation and economic stagnation. Japan’s urban-rural divide is also reflected in land prices. Tokyo has by far the most expensive land prices. In terms of land price growth, the cities of Sapporo, Sendai, Hiroshima, and Fukuoka have outpaced the Greater Tokyo Area in the past decade.

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 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 2025, the average official price for residential land in Japan was the highest in Tokyo at ******* Japanese yen per square meter. The average residential land price per square meter in Osaka increased to *** thousand yen.

Japan JP: House Price Index: Nominal: sa data was reported at 132.265 2015=100 in 2024. This records an increase from the previous number of 128.526 2015=100 for 2023. Japan JP: House Price Index: Nominal: sa data is updated yearly, averaging 102.212 2015=100 from Dec 1960 (Median) to 2024, with 65 observations. The data reached an all-time high of 173.878 2015=100 in 1991 and a record low of 6.373 2015=100 in 1960. Japan JP: House Price Index: Nominal: 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. Whole country; Seasonnally adjusted by OECD, using the X-12 ARIMA method; Residential property prices, sales of newly-built and existing dwellings, all types of dwellings The source for recent figures (from 2008Q2) is same as the OECD Residential Property Price Indices (RPPIs) - Headline indicators database. Previously, the used indicator is 'Urban Land Price Index - Nationwide' from Japan Real Estate Institute. Sales