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 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.

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.

Graph and download economic data for Real Residential Property Prices for Japan (QJPR368BIS) from Q1 1956 to Q3 2024 about Japan, residential, housing, real, and price.

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.

In the third quarter of 2024, the house price to income ratio in Japan stood at 117.5 representing an increase of 0.8 index points compared to the previous quarter. The ratio is calculated by dividing nominal house prices by the nominal disposable income per head based on net household disposable income.

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]

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.

In September 2024, the preliminary residential property price index for detached houses in Tokyo Prefecture in Japan stood at 131.8. The lowest point within the surveyed period was recorded in July 2020, at 104.5 points. Apart from single-family homes, the residential property price index comprises residential land 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.

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.

As of December 2023, the composite JREI Home Price Index for existing condominiums in the Tokyo Metropolitan Area in Japan stood at around 118.3 index points. Since 2014, there has been a continuous increase in home prices in the investigated area. Compared to the previous year, the index increased by 3.18 percent.

Japan Consumer Price Index (CPI): Tokyo: Housing: excl Imputed Rent data was reported at 97.900 2000=100 in Jul 2006. This stayed constant from the previous number of 97.900 2000=100 for Jun 2006. Japan Consumer Price Index (CPI): Tokyo: Housing: excl Imputed Rent data is updated monthly, averaging 83.200 2000=100 from Jan 1970 (Median) to Jul 2006, with 439 observations. The data reached an all-time high of 101.500 2000=100 in Mar 1998 and a record low of 26.500 2000=100 in Jan 1970. Japan Consumer Price Index (CPI): Tokyo: Housing: excl Imputed Rent data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I038: Consumer Price Index: Tokyo: 2000=100.

In September 2024, the monthly existing home sales index in Japan stood at 124.9 index points, down by one percent compared to the previous month.The existing home sales index 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.

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.

Japan Consumer Price Index (CPI): Chained: Tokyo: Housing data was reported at 98.600 2005=100 in Jun 2011. This stayed constant from the previous number of 98.600 2005=100 for May 2011. Japan Consumer Price Index (CPI): Chained: Tokyo: Housing data is updated monthly, averaging 100.000 2005=100 from Jan 2007 (Median) to Jun 2011, with 54 observations. The data reached an all-time high of 100.600 2005=100 in Oct 2008 and a record low of 98.600 2005=100 in Jun 2011. Japan Consumer Price Index (CPI): Chained: Tokyo: Housing data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I035: Consumer Price Index: Tokyo: 2005=100: Chain Linked.

Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Small Non Wooden data was reported at 97.400 2005=100 in Jul 2011. This stayed constant from the previous number of 97.400 2005=100 for Jun 2011. Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Small Non Wooden data is updated monthly, averaging 95.200 2005=100 from Jan 1970 (Median) to Jul 2011, with 499 observations. The data reached an all-time high of 103.600 2005=100 in Jan 1995 and a record low of 39.500 2005=100 in Feb 1970. Japan Consumer Price Index (CPI): Tokyo: Housing: Rent: Private: Small Non Wooden data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I036: Consumer Price Index: Tokyo: 2005=100.

Japan Consumer Price Index (CPI): Chained: Tokyo: Housing: excl Imputed Rent data was reported at 98.100 2005=100 in Jun 2011. This records a decrease from the previous number of 98.200 2005=100 for May 2011. Japan Consumer Price Index (CPI): Chained: Tokyo: Housing: excl Imputed Rent data is updated monthly, averaging 99.550 2005=100 from Jan 2007 (Median) to Jun 2011, with 54 observations. The data reached an all-time high of 100.000 2005=100 in Oct 2008 and a record low of 98.100 2005=100 in Jun 2011. Japan Consumer Price Index (CPI): Chained: Tokyo: Housing: excl Imputed Rent data remains active status in CEIC and is reported by Statistical Bureau. The data is categorized under Global Database’s Japan – Table JP.I035: Consumer Price Index: Tokyo: 2005=100: Chain Linked.

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.

Japan JP: Land Price: YoY: Residential: Tokyo data was reported at 1.000 % in 2018. This records an increase from the previous number of 0.700 % for 2017. Japan JP: Land Price: YoY: Residential: Tokyo data is updated yearly, averaging 0.600 % from Dec 1971 (Median) to 2018, with 48 observations. The data reached an all-time high of 68.600 % in 1988 and a record low of -14.600 % in 1993. Japan JP: Land Price: YoY: Residential: Tokyo data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.P005: Land Price: Percentage Change.