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.

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.

In 2023, there were close to **** thousand new condominium units in Japan. This constituted a decrease from around ** thousand units in the previous year. In the past decade, the supply of new condominium units was the highest in 2014 at **** thousand. The history of condominiums in Japan During the period of rapid economic growth in the 1960s, public housing apartment buildings made of concrete, called Danchi, gained increasing popularity in Japan. This also meant a shift away from multi-generational households to nuclear family households. As a part of this development, construction companies started to build the first condominiums, followed by the first condominium boom in the mid-1960s. Today, the number of residential condominiums in Japan is still growing. The condominium market in Japan Greater Tokyo and Greater Osaka together accounted for almost two-thirds of the supply of new condominiums in Japan. Condominium prices have been on an upward trend recently. The average price per square meter of new apartment units was the highest in the Greater Tokyo Area. Amid rising property prices across Japan, pre-owned condominiums also saw a price increase.

In 2025, the average land price in Chiba Prefecture was ******* Japanese yen per square meter, up from approximately ******* yen in 2024. Chiba Prefecture is part of the Tokyo Metropolitan Area, which is home to around ** percent of the population in Japan.