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 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.

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.

Housing Index in Japan increased to 131.15 points in April from 129.96 points in March of 2025. This dataset provides - Japan Construction Starts - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the Japan Real Estate Market reached a value of USD 509.3 million, and it is projected to surge to USD 707.1 million by 2030.

In 2024, the existing home sales index in Japan stood at ***** index points, reaching a decade high. The index for used home sales measures the development of the second-hand housing market based on the number of ownership transfers due to the sale and purchase of buildings. It includes data for detached houses and condominiums. Second-hand housing market in Japan Japan’s second-hand home market only accounts for a small share of the overall housing market. Despite the country’s massive housing stock, a large quantity of new homes is built every year as Japanese consumers prefer new homes over used ones. This is probably rooted in the housing policies of the post-war period, which were aimed at the rapid supply of new housing units at the cost of quality. As a result, many older homes are poor quality, and new homes quickly depreciate. These circumstances have created uncertainty about used homes and are reflected by the scrap and build approach of completely destroying and rebuilding used homes instead of reusing and renovating them. Revitalizing the existing home market In the past years, however, the government has shifted its focus to revitalizing the used housing market and utilizing the massive existing housing stock that comprises around ** million units. By implementing a reliable home inspection system, subsidizing renovations, and offering appropriate pricing models, it is trying to change people’s perception of used homes. Driven by rising prices for new homes, demand for second-hand homes, especially condominiums, has recently increased in the metropolises of Tokyo and Osaka.

The Japan condominiums and apartments market, valued at approximately ¥20 trillion (assuming a reasonable market size based on a developed nation's real estate sector and the provided CAGR) in 2025, is projected to experience steady growth at a Compound Annual Growth Rate (CAGR) of 4.60% from 2025 to 2033. This growth is fueled by several key drivers. A rising urban population, particularly in major metropolitan areas like Tokyo, Osaka, and Nagoya, is increasing demand for housing. Furthermore, government initiatives aimed at promoting sustainable urban development and improving housing affordability are contributing positively. The preference for smaller, more efficient living spaces, particularly among younger generations, also fuels the market. However, the market faces constraints such as high land prices in urban centers, stringent building regulations, and potential fluctuations in the overall Japanese economy. The market is segmented into condominiums and apartments, with both segments experiencing growth, although the condominium segment might show slightly higher growth due to its appeal among wealthier individuals and families. Major players like Sekisui House Limited, Sumitomo Forestry's Co Ltd, and Panasonic Homes Co Ltd are driving innovation and market competition through their diverse product offerings and technological advancements in construction and design. The competitive landscape is characterized by established players focusing on both affordability and luxury offerings. The growing adoption of smart home technology and sustainable building practices are shaping market trends, with developers increasingly incorporating energy-efficient features and environmentally friendly materials. The forecast period (2025-2033) anticipates continued growth, but the pace might be influenced by macroeconomic factors and evolving consumer preferences. Companies are responding by introducing innovative financing options and adapting designs to cater to the changing demands of the Japanese consumer. The focus is on creating sustainable, functional, and aesthetically pleasing living spaces to meet the diverse needs of Japan's population. Government policies concerning affordable housing and urban revitalization will continue to be crucial factors influencing the market's trajectory. This comprehensive report provides an in-depth analysis of the Japan condominiums and apartments market, covering the period from 2019 to 2033. It offers invaluable insights into market trends, growth drivers, challenges, and key players shaping this dynamic sector. With a focus on new apartment construction in Japan, Tokyo apartment market, Osaka real estate market, and luxury apartments Japan, this report is essential for investors, developers, and anyone seeking to understand this lucrative market. Study Period: 2019-2033 Base Year: 2025 Estimated Year: 2025 Forecast Period: 2025-2033 Historical Period: 2019-2024 Key drivers for this market are: Governments' Investments and Plans in Residential Housing to Boost the Prefab Industry, Rise in the overall construction industry and increasing prices. Potential restraints include: Uneven Topography, Lack of Awareness. Notable trends are: Japan’s Shrinking Population is Producing a Surplus of Housing.

The market is segmented by Type (Apartments and Condominiums, Villas and landed houses) and by Cities (Tokyo, Kyoto, Osaka and Other Cities). The report offers market size and forecasts for luxury residential real estate market in Japan for all above segments.

In 2023, the second-hand home market in Japan accounted for **** percent of the overall housing market. This was significantly lower than the share of the pre-owned home market in the United States, England, and France in 2023.

The Japanese luxury residential real estate market is expected to maintain a steady growth rate, with a CAGR of 3.00% during the forecast period of 2025-2033. This growth can be attributed to the nation's affluent population and the presence of major corporations, creating a demand for high-end housing. Tokyo, Kyoto, and Osaka are the primary metropolitan areas driving the market. Foreign investors are also contributing to the demand for luxury properties, particularly in the form of apartments and condominiums. Key trends in the market include the increasing popularity of smart homes and the growing demand for eco-friendly luxury properties. The market is segmented into apartments and condominiums, villas and landed houses, with apartments and condominiums dominating the market. Major companies in the market include Daiwa House Group, Mitsui Fudosan, Tokyo Tatemono, Sumitomo Realty & Development, and Daikyo Incorporated. Despite the projected growth, there are some restraints such as the high cost of land and the strict regulations governing the construction of new developments. Recent developments include: On January 13th, 2022, Mitsubishi Estate announced rental residences would be included on the upper floors of Torch Tower, a mixed-use building to be developed in the Tokyo Torch complex, officially named the Tokyo Station Tokiwabashi Project. These will be the first residential units for rent in the Otemachi, Marunouchi, and Yurakucho areas, according to Mitsubishi Estate. There will be approximately 50 luxury rental apartments planned, between roughly 70 to 400 square meters in exclusive use spaces. Torch Tower will be a 63-story, 4-level basement complex consisting of a hotel, offices, event spaces, and retail stores in addition to the luxury rental units. Construction is scheduled to begin in the fiscal year 2023 and be completed in the fiscal year 2027., On April 25th, 2022, Mitsui Fudosan Residential and Mitsubishi Estate Residence announced the permanent name of "Mita Garden Hills" for the, until now, tentatively named "Mita 1-Chome, Minato-ku, Tokyo Project". It is a large-scale luxury condominium project that will include 1,002 units ranging from studio to 4-bedroom condos. The site spans 2.5 hectares and will have 1,002 apartments across several 1 - 14-story buildings, with apartment sizes ranging from 29 - 370 sqm (312 - 3,891 sq. ft). Only the units over 200 sqm in size appear to have two bathrooms (or a shower in the main bedroom). A resident-only central garden of around 7,700 sqm will be landscaped with 130 varieties of new and existing plants. Approximately 500 tonnes of rainfall will be collected each year to help with the watering of the plants to conserve water usage.. Key drivers for this market are: 4., Rapid Urbanization is driving the market4.; Government Initiatives Actively promoting the Construction Activities. Potential restraints include: 4., Limited Infrastructure4.; Shortage of Skilled Labours. Notable trends are: High Concentration of UHNWI in Tokyo Driving the Sales of Luxury Homes.

The Japan condominiums and apartments market, valued at approximately ¥20 trillion (assuming a market size of "XX" represents a significant figure in the Japanese real estate sector, and ¥20 trillion is a plausible estimate given the scale of the Japanese economy) in 2025, exhibits a steady Compound Annual Growth Rate (CAGR) of 4.60%. This growth is fueled by several key drivers. Firstly, Japan's urban population continues to concentrate in major cities like Tokyo, Osaka, and Nagoya, increasing demand for compact yet modern housing solutions offered by condominiums and apartments. Secondly, a robust economy and increasing disposable incomes are enabling more individuals to afford higher-quality housing, fueling market expansion. Furthermore, government initiatives aimed at improving urban infrastructure and promoting sustainable housing developments are also positively influencing market growth. However, challenges remain, including the high cost of land in major cities, potentially limiting supply and pushing prices upward. Stringent building codes and environmental regulations, while important for sustainability, also add to development costs. The market is segmented by type, with condominiums and apartments representing the primary categories, each catering to different consumer preferences and budgetary considerations. The competitive landscape includes both large-scale developers like Sekisui House Limited and Sumitomo Forestry's Co Ltd, and smaller, specialized builders focusing on niche markets. The forecast period of 2025-2033 projects continued growth, albeit at a rate influenced by macroeconomic factors like interest rates and economic volatility. While the CAGR of 4.60% provides a baseline, fluctuations around this figure are anticipated. The consistent demand for housing in Japan's urban centers, combined with ongoing investment in infrastructure development, suggests that the market will remain resilient in the long term. However, developers must adapt to changing consumer preferences—emphasizing sustainable designs, smart home technologies, and flexible living spaces—to maintain competitiveness and capitalize on the growth potential. A deeper understanding of regional variations within Japan, particularly concerning population density and economic conditions, will be crucial for targeting specific market segments effectively. Recent developments include: Dec 2022: Nippon House Holdings Co. Ltd launched the "Japanese House/Hinoki House" series with 15 types of exterior design., Oct 2022: Asahi Kasei Homes concluded an agreement to acquire 100% ownership of Focus Plumbing LLC, Focus Framing, Door & Trim LLC, Focus Electric LLC, Focus Concrete LLC, and Focus Fire Protection LLC (collectively referred to as "Focus Companies"), a Nevada-based residential plumbing, framing, electric, concrete, and fire protection group, on October 14, 2022 (US Eastern time), through a US subsidiary, and completed the acquisition.. Notable trends are: Japan’s Shrinking Population is Producing a Surplus of Housing.

The Japan Residential Construction Market, valued at approximately ¥15 trillion (assuming a market size "XX" of 15 trillion based on typical market size for a developed nation like Japan and given the CAGR of >5%) in 2025, is projected to experience robust growth with a Compound Annual Growth Rate (CAGR) exceeding 5% from 2025 to 2033. This growth is fueled by several key drivers. An aging population necessitates increased demand for senior-friendly housing, while urbanization continues to drive demand in metropolitan areas like Tokyo, Osaka, and Nagoya. Government initiatives promoting sustainable and energy-efficient construction methods further contribute to market expansion. The market is segmented by dwelling type (apartments & condominiums, villas, other types) and construction type (new construction, renovation), reflecting diverse consumer preferences and project scales. Leading players like Asahi Kasei Homes, Toyota Housing Co., and Sekisui House dominate the landscape, leveraging technological advancements and brand recognition to maintain market share. However, rising land prices and stringent building regulations pose significant challenges to sustained growth. Furthermore, fluctuations in lumber prices and potential labor shortages could impact construction timelines and project costs. The market's future trajectory hinges on effectively addressing these challenges. The continued focus on innovative construction techniques, incorporating smart home technologies, and adopting sustainable building materials will be crucial for companies to compete successfully. Government policies aiming to streamline regulations and provide incentives for environmentally friendly housing development will play a vital role in shaping the market's growth. The increasing demand for customized housing solutions and a rise in the preference for sustainable and energy-efficient homes will shape the evolving landscape of the Japanese residential construction market throughout the forecast period. Successful players will be those who adapt swiftly to changing consumer preferences, innovate their building practices, and navigate the regulatory environment effectively. Recent developments include: November 2022: Asahi Kasei Homes acquired 100% ownership of all the subsidiaries of Focus Company. This acquisition will help Asahi Kasei Homes strengthen its core business of order-built unit homes in Japan, North America, and Australia., April 2022: Panasonic Homes commenced selling their Casart Black & Stone model, a Zero Energy Home (ZEH), in April 2022. The Black & Stone has an Earthquake Safety and Comfort Warranty that will restore the building to its original condition in the unlikely event that more than half of the house is damaged in an earthquake. The Black & Stone has a Grade 3 rating, the highest seismic performance rating that is achievable, under the Housing Performance Indication System.. Key drivers for this market are: Increase FDI in construction in Asia-Pacific, Minimized Construction Wastage. Potential restraints include: Availability of Skilled Labor. Notable trends are: Foreign Investments in Japan is Driving the Market.

The Japan Residential Construction Market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% from 2025 to 2033. This expansion is fueled by several key drivers. A growing aging population necessitates more adaptable and accessible housing solutions, driving demand for renovation and specialized construction. Simultaneously, urbanization and increasing disposable incomes are boosting demand for new, modern apartments and condominiums, particularly in major metropolitan areas. Government initiatives aimed at improving housing affordability and infrastructure development further contribute to market expansion. However, the market faces certain constraints, including land scarcity in densely populated urban centers and fluctuating material costs, potentially impacting construction timelines and overall project viability. The market is segmented by dwelling type (apartments & condominiums, villas, others) and construction type (new construction, renovation). Leading players, including Daiwa House, Sekisui House, and Panasonic Homes, are strategically positioning themselves to capitalize on these trends through innovative designs, sustainable building practices, and technological integration. Competition remains intense, requiring companies to offer differentiated products and services to maintain market share. The market's success hinges on addressing the challenges of land scarcity and material costs effectively. Companies achieving this balance, combined with a focus on creating energy-efficient and technologically advanced housing solutions tailored to the evolving needs of the Japanese population, are well-positioned to benefit from the continued growth trajectory. The renovation segment, spurred by the aging population's need for accessible housing, represents a significant opportunity for market expansion, especially in the coming years. Furthermore, the strategic integration of smart home technology and sustainable materials will likely influence consumer preference and drive innovation within the industry. The dominance of established players underscores the need for newer entrants to offer unique value propositions to compete effectively. Future growth will likely be marked by increased specialization and a growing focus on providing tailored solutions to a diverse range of consumer needs. Recent developments include: November 2022: Asahi Kasei Homes acquired 100% ownership of all the subsidiaries of Focus Company. This acquisition will help Asahi Kasei Homes strengthen its core business of order-built unit homes in Japan, North America, and Australia., April 2022: Panasonic Homes commenced selling their Casart Black & Stone model, a Zero Energy Home (ZEH), in April 2022. The Black & Stone has an Earthquake Safety and Comfort Warranty that will restore the building to its original condition in the unlikely event that more than half of the house is damaged in an earthquake. The Black & Stone has a Grade 3 rating, the highest seismic performance rating that is achievable, under the Housing Performance Indication System.. Notable trends are: Foreign Investments in Japan is Driving the Market.

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.

The Japan manufactured homes market, currently valued at an estimated ¥1.5 trillion (approximately $10.5 billion USD) in 2025, is poised for robust growth, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 4.00% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, increasing urbanization and population density within Japan are creating a greater demand for affordable and efficient housing solutions. Manufactured homes offer a compelling alternative to traditional construction, providing quicker build times and potentially lower costs. Secondly, government initiatives promoting sustainable and energy-efficient housing are positively impacting the market. Builders are increasingly incorporating eco-friendly materials and technologies into their manufactured homes, aligning with national environmental goals. Furthermore, evolving consumer preferences towards modern, customizable, and technologically advanced homes are driving innovation within the sector. Leading manufacturers like Shimizu Corporation and Sekisui House are responding to these trends by offering innovative designs and features, including smart home technologies and flexible floor plans. However, the market faces certain restraints. Land scarcity and stringent building regulations in urban areas can present challenges to development. Fluctuations in material costs and labor shortages could also impact production and pricing. Despite these challenges, the segment is showing significant growth, primarily in the multi-family housing sector, driven by an increasing need for rental properties and compact living spaces in densely populated cities. The single-family segment, while smaller, is expected to experience steady growth, fueled by demand for cost-effective and personalized homes in suburban and rural areas. The continued expansion of the market hinges on effectively addressing regulatory hurdles, maintaining a stable supply chain, and adapting to evolving consumer preferences. The forecast period of 2025-2033 suggests significant market expansion based on existing trends and projected economic growth in Japan. Key drivers for this market are: Governments' Investments and Plans in Residential Housing to Boost the Prefab Industry, Rise in the overall construction industry and increasing prices. Potential restraints include: Uneven Topography, Lack of Awareness. Notable trends are: Manufactured Homes are Witnessing a Rise in Adoption.

As of March 2024, Mitsui Fudosan was the leading real estate company in Japan, with a market capitalization of approximately 4.6 trillion Japanese yen. Mitsubishi Estate ranked second with a market cap of about 3.7 trillion yen.

The Japan manufactured homes market, valued at approximately ¥1.5 trillion (assuming a market size "XX" of around $10 billion USD in 2025 based on current exchange rates and a reasonable size for a developed nation's manufactured housing market) is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 4.00% from 2025 to 2033. This expansion is fueled by several key drivers. A rising demand for affordable housing in urban centers, coupled with increasing land scarcity and construction costs, is pushing consumers towards manufactured homes as a viable and cost-effective alternative. Furthermore, advancements in prefabrication technologies are leading to higher-quality, more energy-efficient, and customizable homes, thus enhancing their appeal among a broader segment of the population. Government initiatives promoting sustainable and efficient housing solutions also contribute positively to market growth. The market is segmented by type into single-family and multi-family dwellings, with the single-family segment currently dominating due to strong individual homeowner demand. However, the multi-family segment shows considerable growth potential driven by increasing urbanization and the need for efficient apartment solutions. Despite the positive growth trajectory, certain restraints exist. These include fluctuating raw material prices, particularly timber and steel, impacting production costs and potentially affecting affordability. Furthermore, stringent building codes and regulations in Japan could pose challenges for manufacturers, requiring significant investments to meet compliance standards. Despite these challenges, the long-term outlook for the Japan manufactured homes market remains optimistic, driven by favorable demographics, technological innovation, and ongoing governmental support for sustainable housing initiatives. Major players like Sekisui House LTD, Daiwa House Group, and Panasonic Homes Co Ltd, along with others, are actively shaping the market landscape through their innovative products and competitive strategies. The market’s success hinges on continued innovation, addressing affordability concerns, and navigating regulatory hurdles effectively. Recent developments include: June 2022: Shimizu Corporation (an architectural, civil engineering, and general contracting firm), constructed a wooden house known as Ruins of Sakuragomon. The structure has two floors, and the house is spread across 58 square meters area., June 2022: Sekisui House, Ltd (Japan's major home builder), planned to acquire all of the equity interest in the operating company Chesmar Homes, LLC and financial services companies CLM Mortgage, Inc., N Title, Inc., and Entitled Insurance Agency, Inc. from Chesmar Group, Inc. This acquisition has led to the diversification of Sekisui House's product offering.. Notable trends are: Manufactured Homes are Witnessing a Rise in Adoption.

Japan Smart Home Market Report is Segmented by Product Type (Comfort and Lighting, Control and Connectivity, Energy Management, and More), Technology (Wi-Fi, Bluetooth, Zigbee, and More), Sales Channel (Offline Retail/CE Stores, and More), Installation Type (DIY, Professional), Dwelling Type (Detached Houses, Apartments and Condominiums, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

​Japan office real estate market size reached USD 20.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 31.55 Billion by 2033, exhibiting a growth rate (CAGR) of 3.87% during 2025-2033. The increasing emphasis on sustainability as well as environmental, social, and governance (ESG) initiatives, which lead to a greater demand for green and energy-efficient office spaces, is driving the office real estate market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on property type, rental model, and classification.

Japan TSE: Market Cap: 1st Section: Real Estate data was reported at 13,845.773 JPY bn in Oct 2018. This records a decrease from the previous number of 14,658.028 JPY bn for Sep 2018. Japan TSE: Market Cap: 1st Section: Real Estate data is updated monthly, averaging 5,564.657 JPY bn from Jan 1990 (Median) to Oct 2018, with 346 observations. The data reached an all-time high of 19,420.746 JPY bn in May 2007 and a record low of 2,279.480 JPY bn in Apr 2003. Japan TSE: Market Cap: 1st Section: Real Estate data remains active status in CEIC and is reported by Japan Exchange Group. The data is categorized under Global Database’s Japan – Table JP.Z006: Tokyo Stock Exchange: Market Capitalization.