Japan house prices in 2026: the short answer
- Apartment prices are at or near record highs. MLIT's official residential price index for condominiums stood at 221.2 in December 2025 (2010 average = 100), +8.4% on a year earlier. In other words, apartment prices are about 2.2 times their 2010 level.
- Houses and land have risen far less. The detached-house index was 120.5 (+3.0% y/y) and residential land 118.2. Outside the big cities many houses lose value with age.
- Tokyo and Osaka condos lead. Tokyo Metropolis condos: 230.9 (+9.8% y/y). Osaka Prefecture condos: 231.6 (+12.9% y/y).
- Official land prices rose for the fifth year. In the 2026 prefectural land price survey (as of 1 July 2026), the national all-use average rose 1.5% (residential +1.0%, commercial +2.9%); Greater Tokyo +5.4% and Greater Osaka +3.6% (all uses).
- Foreigners can buy on the same terms as Japanese citizens; there is no nationality restriction on owning land or buildings. See buying property in Japan as a foreigner and the rules tracker.
The official price index (MLIT), December 2025
The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) publishes a monthly Residential Property Price Index built from actual transactions, with 2010 = 100. It is the closest thing Japan has to an official house price index. Figures below are the unadjusted index and the change on the same month a year earlier; recent months are preliminary.
| Region | All residential | Condominiums | Detached houses | Residential land |
|---|---|---|---|---|
| Japan (national) | 145.1 +5.2% y/y | 221.2 +8.4% y/y | 120.5 +3.0% y/y | 118.2 +1.9% y/y |
| Tokyo Metropolis | 179.9 +8.1% y/y | 230.9 +9.8% y/y | 133.6 -1.2% y/y | 144.3 +0.8% y/y |
| Osaka Prefecture | 157.4 +8.3% y/y | 231.6 +12.9% y/y | 123.4 +10.3% y/y | 132.0 -4.9% y/y |
| Aichi (Nagoya) | 123.7 +1.9% y/y | 191.8 +1.0% y/y | 114.3 +2.5% y/y | 105.0 -0.4% y/y |
MLIT postponed the release of newer months (a calculation problem, announced 28 September 2026), so December 2025 is still the latest official figure. We update this page when the next release appears.
Long-run monthly history and charts: Tokyo condo price tracker. In Chinese: 日本房价走势 1983–2026.
Prices by city and resort
Each page below uses MLIT's transaction records for that area: median sale prices and price per square metre by year, district and nearest station, with USD and other currencies. Headline figures are copied from each page (condominium figures are per ㎡ of floor area; house and land figures per ㎡ of land). Resort pages use MLIT's buyer survey because closed-price data barely covers them.
| Area | Headline | Price per ㎡ / detail |
|---|---|---|
| Central Tokyo apartment prices, 2015–2025 | ¥91.5m Median price, 2025 (condos, closed prices) | ¥1,647,059 Median ¥/㎡, 2025 (condos, closed prices) · +48% vs 2021 · ≈ US$971/ft² |
| Central Osaka apartment prices, 2015–2025 | ¥51.0m Median price, 2025 (condos, closed prices) | ¥833,333 Median ¥/㎡, 2025 (condos, closed prices) · +39% vs 2021 · ≈ US$491/ft² |
| Central Kyoto property prices, 2015–2025 | ¥38.0m Median price, 2025 (condos, closed prices) | ¥633,333 Median ¥/㎡, 2025 (condos, closed prices) · +17% vs 2021 · ≈ US$373/ft² |
| Fukuoka condo prices by ward (2026) | US$171,000 Median price, 2025 (Fukuoka City) | US$248/ft² Median per sq ft, 2025 · ¥421,053/㎡ · +11.5% vs 2024 |
| Sapporo property prices by ward (2026): condos, houses and land | US$127,000 Resale condo, median price 2025 (10 wards) | US$143/ft² Per sq ft, 10 wards · ¥242,857/㎡ · -5.0% vs 2024 |
| Kumamoto property prices near TSMC (JASM): Kikuyo, Ozu, Koshi and Kumamoto City (2026) | US$178,000 House, 3 JASM towns, median 2025 | US$28/ft² Land 100–500㎡, 3 towns, per sq ft · ¥47,619/㎡ · n=103 · buyer survey |
| Chitose & Eniwa property prices and the Rapidus plant: what the data shows (2026) | see page | |
| Niseko property prices, 2015–2025 | ¥36.0m Median price, 2025 (all types, buyer survey) | ¥58,333 Median ¥/㎡, 2025 (all types, buyer survey) · +324% vs 2015 · ≈ US$34/ft² |
| Hakuba property prices, 2015–2025 | ¥18.5m Median price, 2025 (all types, buyer survey) | ¥31,667 Median ¥/㎡, 2025 (all types, buyer survey) · +309% vs 2015 · ≈ US$19/ft² |
| Furano property prices, 2015–2025 | ¥5.40m Median price, 2025 (all types, buyer survey) | ¥15,670 Median ¥/㎡, 2025 (all types, buyer survey) · +10% vs 2015 · ≈ US$9/ft² |
| Myoko property prices: the ski side and the city, 2015–2025 | ¥1.65m Median land plot, 2021–2025 | ¥6.70m Median house, 2021–2025 · ≈ US$42,515 · n=33 |
| Rusutsu property prices: five-year ranges, 2016–2025 | ¥1.70m Median land plot, 2021–2025 | ¥5.50m Median house, 2021–2025 · ≈ US$34,901 · n=7 |
| Nozawa Onsen property prices: five-year ranges, 2016–2025 | ¥2.40m Median land plot, 2021–2025 | ¥5.50m Median house, 2021–2025 · ≈ US$34,901 · n=21 |
| Chiyoda (Tokyo) apartment prices, 2015–2025 | ¥80.0m Median price, 2025 (condos, closed prices) | ¥1,714,286 Median ¥/㎡, 2025 (condos, closed prices) · +38% vs 2021 · ≈ US$1,011/ft² |
| Chuo (Tokyo) apartment prices, 2015–2025 | ¥110m Median price, 2025 (condos, closed prices) | ¥1,818,182 Median ¥/㎡, 2025 (condos, closed prices) · +68% vs 2021 · ≈ US$1,072/ft² |
| Minato (Tokyo) apartment prices, 2015–2025 | ¥110m Median price, 2025 (condos, closed prices) | ¥1,882,353 Median ¥/㎡, 2025 (condos, closed prices) · +53% vs 2021 · ≈ US$1,110/ft² |
| Tokyo apartment price per square metre (and per square foot), 2015–2025 | see page | |
| Shibuya (Tokyo) apartment prices, 2015–2025 | ¥85.0m Median price, 2025 (condos, closed prices) | ¥1,571,429 Median ¥/㎡, 2025 (condos, closed prices) · +42% vs 2021 · ≈ US$926/ft² |
| Shinjuku (Tokyo) apartment prices, 2015–2025 | ¥60.0m Median price, 2025 (condos, closed prices) | ¥1,225,000 Median ¥/㎡, 2025 (condos, closed prices) · +23% vs 2021 · ≈ US$722/ft² |
Tokyo by ward: Minato · Chuo · Chiyoda · Shibuya · Shinjuku · Tokyo price per square metre.
Official land prices by area
- Fukuoka land prices 2026 by ward and station 福岡市の公示地価・基準地価
- Japan land prices 2026 (official 公示地価 & 基準地価)
- Kyoto land prices 2026 by ward and station 京都市の公示地価・基準地価
- Miyakojima & Ishigaki land prices 2026 宮古島・石垣島の地価
- Niseko land prices 2026: Kutchan, Niseko Town & Hakuba 倶知安・ニセコ・白馬の地価
- Osaka land prices 2026 by ward and station 大阪市の公示地価・基準地価
- Tokyo land prices 2026 by ward and station 東京23区の公示地価・基準地価
Before you buy
- Akiya in Japan: can foreigners buy Japan's vacant houses?
- Tokyo earthquake & flood risk by ward (with prices)
- Japan ryokan & hotel occupancy by prefecture (updated monthly)
- How much can I sell my property in Japan for?
- Japan property tax & cost calculator for foreign buyers
- Tokyo condo prices: monthly tracker
How to read these numbers
- An index is not a price. The MLIT index shows how prices moved, not what a home costs. For price levels use the city pages.
- Medians move with the mix. If more large or new flats sell in a year, the median rises even if like-for-like prices do not.
- Two MLIT series. Brokers' closed prices (成約価格, from 2021) and the older buyer survey (取引価格・アンケート) are shown separately and never combined. More in our methodology.
Looking to buy? Talk to a vetted, licensed broker
Tell us the area and budget, and we introduce you to a licensed Japanese real estate broker (宅地建物取引業者) who works with overseas buyers. We are not a real estate broker. We don't describe, recommend or negotiate properties, and we don't charge buyers. Brokers may pay us a referral fee.
Sources
- MLIT, Residential Property Price Index (不動産価格指数（住宅）): https://www.mlit.go.jp/totikensangyo/totikensangyo_tk5_000085.html. 出典：「不動産価格指数」（国土交通省）を加工して作成. Latest release: 2026-03-31 (令和７年12月・第４四半期分).
- MLIT, 2026 prefectural land price survey (令和8年都道府県地価調査, published 15 September 2026): press release · summary (PDF).
- City pages: MLIT Real Estate Information Library (https://www.reinfolib.mlit.go.jp/), processed by Japan House Prices. 出典：国土交通省 不動産情報ライブラリのデータを加工して作成. Not published or endorsed by MLIT.
General information, not investment advice. Japan House Prices is not a real estate broker. Index figures checked against MLIT's latest file on 2026-10-01.