Graph and download economic data for Residential Property Prices for Japan (QJPN628BIS) from Q1 1955 to Q3 2024 about Japan, residential, HPI, housing, price index, indexes, and price.

Key information about Japan Gold Production

• Japan Real Residential Property Price Index was reported at 121.710 2010=100 in Sep 2024.
• This records an increase from the previous number of 121.633 2010=100 for Jun 2024.
• Japan Real Residential Property Price Index data is updated quarterly, averaging 110.319 2010=100 from Mar 1955 to Sep 2024, with 279 observations.
• The data reached an all-time high of 189.276 2010=100 in Mar 1991 and a record low of 12.662 2010=100 in Mar 1955.
• Japan Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

In November 2024, the preliminary residential property price index in Japan stood at 141.3. After declining to 111.6 points in July 2020 following the outbreak of the coronavirus (COVID-19) pandemic, the index has recovered and reached a peak in November 2024. The residential property price index comprises residential land, detached houses, and condominiums.

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.

Housing Index in Japan increased to 128.50 points in January from 128.20 points in December of 2024. This dataset provides - Japan Construction Starts - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the third quarter of 2024, the commercial property price index in Japan stood at 141.8, down from 142.4 index points in the previous quarter.The commercial property price index comprises offices, warehouses, factories, apartment buildings, and commercial and industrial land.

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 November 2024, the preliminary residential property price index in Tokyo Prefecture in Japan stood at 168.5. The residential property price index comprises residential land, detached houses, and condominiums.

In 2023, the existing home sales index in Japan stood at 116.8 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 an average home fully depreciates within 30 years. 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 62 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.

​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.

Key information about Japan Nominal Residential Property Price Index

• Japan Nominal Residential Property Price Index was reported at 139.745 2010=100 in Sep 2024.
• This records an increase from the previous number of 138.545 2010=100 for Jun 2024.
• Japan Nominal Residential Property Price Index data is updated quarterly, averaging 104.327 2010=100 from Mar 1955 to Sep 2024, with 279 observations.
• The data reached an all-time high of 182.788 2010=100 in Mar 1991 and a record low of 2.212 2010=100 in Mar 1955.
• Japan Nominal Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Nominal Residential Property Price Index: 2010=100: Quarterly.

In November 2024, the preliminary residential property price index for condominiums in Japan stood at 207.2, increasing by one percent compared to the previous month. The overall residential property price index, comprised of residential land, detached houses, and condominiums, stood at 141.3 points in November 2024.

Japan JP: Standardised Price-Income Ratio: sa data was reported at 89.185 Ratio in 2023. This records an increase from the previous number of 87.364 Ratio for 2022. Japan JP: Standardised Price-Income Ratio: sa data is updated yearly, averaging 113.334 Ratio from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 163.015 Ratio in 1973 and a record low of 73.387 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.

Japan luxury residential real estate market size reached USD 34.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 60.8 Billion by 2033, exhibiting a growth rate (CAGR) of 6.18% during 2025-2033. Improved economic stability, along with the rising number of infrastructure projects, owing to the expanding travel and tourism sector, is primarily driving the market growth.

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 type.

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.

CPI Housing Utilities in Japan increased to 102.90 points in May from 102.80 points in April of 2024. This dataset provides - Japan Cpi Housing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Japan Home Price Index: Used Condominium: Composite of Tokyo Metro data was reported at 90.890 Jan2000=100 in Aug 2018. This records an increase from the previous number of 90.400 Jan2000=100 for Jul 2018. Japan Home Price Index: Used Condominium: Composite of Tokyo Metro data is updated monthly, averaging 86.370 Jan2000=100 from Jun 1993 (Median) to Aug 2018, with 303 observations. The data reached an all-time high of 194.300 Jan2000=100 in Jun 1993 and a record low of 76.370 Jan2000=100 in Aug 2012. Japan Home Price Index: Used Condominium: Composite of Tokyo Metro 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. For data point of 2014 Nov onwards, data is published by the Japan Real Estate Institute (JREI). For data point before that, it is published by the Tokyo Stock Exchange (TSE). Base year and methodology remain the same.

In the third quarter of 2024, the commercial property price index for offices in Japan stood at 180.1, up from 174.1 points in the previous quarter.Apart from offices, the commercial property price index comprises retail properties, warehouses, factories, apartment buildings, and commercial and industrial land.

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Real Estate Market Size 2025-2029

The real estate market size is forecast to increase by USD 1,258.6 billion at a CAGR of 5.6% between 2024 and 2029.

The market is experiencing significant shifts and innovations, with both residential and commercial sectors adapting to new trends and challenges. In the commercial realm, e-commerce growth is driving the demand for logistics and distribution centers, while virtual reality technology is revolutionizing property viewings. Europe's commercial real estate sector is witnessing a rise in smart city development, incorporating LED lighting and data centers to enhance sustainability and efficiency. In the residential sector, wellness real estate is gaining popularity, focusing on health and well-being. Real estate software and advertising services are essential tools for asset management, streamlining operations, and reaching potential buyers. Regulatory uncertainty remains a challenge, but innovation in construction technologies, such as generators and renewable energy solutions, is helping mitigate risks.

What will be the Size of the Real Estate Market During the Forecast Period?

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The market continues to exhibit strong activity, driven by rising population growth and increasing demand for personal household space. Both residential and commercial sectors have experienced a rebound in home sales and leasing activity. The trend towards live-streaming rooms and remote work has further fueled demand for housing and commercial real estate. Economic conditions and local market dynamics influence the direction of the market, with interest rates playing a significant role in investment decisions. Fully furnished, semi-furnished, and unfurnished properties, as well as rental properties, remain popular options for buyers and tenants. Offline transactions continue to dominate, but online transactions are gaining traction.
The market encompasses a diverse range of assets, including land, improvements, buildings, fixtures, roads, structures, utility systems, and undeveloped property. Vacant land and undeveloped property present opportunities for investors, while the construction and development of new housing and commercial projects contribute to the market's overall growth.

How is this Real Estate Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Residential
  Commercial
  Industrial


Business Segment

  Rental
  Sales


Manufacturing Type

  New construction
  Renovation and redevelopment
  Land development


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Type Insights

The residential segment is estimated to witness significant growth during the forecast period.

The market encompasses the buying and selling of properties designed for dwelling purposes, including buildings, single-family homes, apartments, townhouses, and more. Factors fueling growth in this sector include the increasing homeownership rate among millennials and urbanization trends. The Asia Pacific region, specifically China, dominates the market due to escalating homeownership rates. In India, the demand for affordable housing is a major driver, with initiatives like Pradhan Mantri Awas Yojana (PMAY) spurring the development of affordable housing projects catering to the needs of lower and middle-income groups. The commercial real estate segment, consisting of office buildings, shopping malls, hotels, and other commercial properties, is also experiencing growth.

Furthermore, economic and local market conditions, interest rates, and investment opportunities in fully furnished, semi-furnished, unfurnished properties, and rental properties influence the market dynamics. Technological integration, infrastructure development, and construction projects further shape the real estate landscape. Key sectors like transportation, logistics, agriculture, and the e-commerce sector also impact the market.

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The Residential segment was valued at USD 1440.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 64% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific region holds the largest share of The market, dr

Home Ownership Rate in Japan decreased to 61.20 percent in 2018 from 61.70 percent in 2013. This dataset provides the latest reported value for - Japan Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.