Authored by the expert who managed and guided the team behind the Japan Property Pack
Everything you need to know before buying real estate is included in our Japan Property Pack
Looking to understand property prices in Japan? You're in the right place.
We've gathered the latest data on Japanese housing costs, from Tokyo luxury condos to affordable suburban homes.
This article is constantly updated with fresh numbers so you always have accurate information.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Japan.
Insights
- Japan's median home price of around ¥30 million ($192,000) remains remarkably affordable compared to other G7 nations, largely because older buildings depreciate faster than in Western markets.
- Tokyo's Chiyoda ward commands nearly six times the price per square meter of Adachi ward, showing how drastically location affects property values within the same city.
- New homes in Japan cost roughly 45% more than existing ones, a gap driven by strict earthquake compliance standards and modern construction costs.
- Japanese property listing prices typically sit only 4% above actual closing prices, making Japan's market more transparent than many Western countries where negotiations are steeper.
- Over the past 10 years, Japan property prices have risen about 38% in nominal terms, but only 25% when adjusted for inflation, showing steady rather than explosive growth.
- Small condos in prime Tokyo locations have the highest price per square meter because you're essentially paying for the address, not the space.
- With $100,000, you can still buy a small condo in outer Saitama or Chiba, making Japan one of the few developed countries with genuine entry-level options for foreign buyers.
- Expats in Japan typically cluster in Minato, Shibuya, and Meguro wards, where a 70 square meter resale condo ranges from ¥90 million to ¥150 million.
What is the average housing price in Japan in 2026?
The median housing price tells you what a typical buyer actually pays, while the average can be skewed upward by a handful of ultra-luxury properties in places like central Tokyo.
We are writing this as of January 2026 using the latest data from the Japan Housing Finance Agency, BIS property indices, and major Japanese property portals, all manually verified by our team.
The median housing price in Japan in 2026 is around ¥30 million ($192,000 or €174,000), while the average housing price sits higher at approximately ¥35 million ($224,000 or €203,000) due to expensive metro-area properties pulling the number up.
About 80% of residential properties in Japan in 2026 fall within the ¥18 million to ¥65 million range ($115,000 to $417,000 or €105,000 to €378,000).
A realistic entry range for Japan property in 2026 is ¥12 million to ¥18 million ($77,000 to $115,000 or €70,000 to €105,000), which gets you an existing 1LDK condo of 35 to 45 square meters in outer suburban areas like Saitama or Chiba, typically in buildings 20 to 35 years old.
Luxury properties in Japan in 2026 typically range from ¥150 million to ¥500 million ($960,000 to $3.2 million or €870,000 to €2.9 million), covering new or recently built condos of 90 to 130 square meters in premium wards like Minato or Chiyoda with tower views and high-end finishes.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Japan.
Are Japan property listing prices close to the actual sale price in 2026?
In Japan in 2026, listing prices are typically about 4% higher than actual closing prices, with a normal range of 2% to 7%.
This relatively small gap exists because Japanese sellers generally price with modest negotiation room, and mortgage valuations plus online price comparisons keep listings grounded in reality. The gap tends to be larger for unique detached houses in less liquid markets and smaller for standardized condos in busy Tokyo neighborhoods where buyers can easily compare dozens of similar units.
Get fresh and reliable information about the market in Japan
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What is the price per sq m or per sq ft for properties in Japan in 2026?
As of January 2026, the median housing price in Japan is approximately ¥500,000 per square meter ($3,200/sqm or €2,900/sqm), which works out to about ¥46,000 per square foot ($295/sqft or €270/sqft). These figures reflect nationwide averages, with Greater Tokyo resale condos often exceeding ¥800,000 per square meter while regional areas fall well below.
Small condos (studios and 1LDK units) in prime Tokyo transit locations have the highest price per square meter because you're paying for the address and station access, while large older detached houses far from stations have the lowest due to rapid building depreciation and weaker land values.
In Japan in 2026, the highest prices per square meter are found in Tokyo's Chiyoda ward (around ¥2.5 to ¥3.3 million per sqm) and Minato ward (¥1.8 to ¥2.5 million per sqm), while the lowest among Tokyo's 23 wards are in Adachi (¥450,000 to ¥600,000 per sqm) and Katsushika.
How have property prices evolved in Japan?
Compared to January 2025, Japan property prices in January 2026 have increased by approximately 4% in nominal terms, or about 1% when adjusted for inflation. This continued growth is driven by persistent land price increases and ongoing construction cost pressures from elevated material and labor costs.
Looking back 10 years to January 2016, Japan property prices have risen approximately 38% in nominal terms, or about 25% in real (inflation-adjusted) terms. This decade of steady growth reflects years of ultra-low interest rates that increased buying power, combined with urban concentration pushing up values in well-located areas while supply remained constrained.
By the way, we've written a blog article detailing the latest updates on property price variations in Japan.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Japan.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Japan versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
How do prices vary by housing type in Japan in 2026?
In Japan's property market in 2026, apartments and condos (called "mansions" in Japanese) make up about 55% of purchases, detached houses account for roughly 40%, and small multi-family or other properties cover the remaining 5%, reflecting how condo-heavy major metros balance against house-dominant suburban and regional areas.
Average prices by property type in Japan as of January 2026 are: new condos at ¥56 million ($359,000 or €325,000), existing condos at ¥30 million ($192,000 or €174,000), existing detached houses at ¥26 million ($167,000 or €151,000), and new built-for-sale houses at ¥38 million ($244,000 or €221,000). These figures come from actual loan applications, so they reflect what buyers really pay rather than listing wishes.
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Japan?
- How much should you pay for a house in Japan?
- How much should you pay for lands in Japan?
How do property prices compare between existing and new homes in Japan in 2026?
In Japan in 2026, new homes cost approximately 45% more than comparable existing homes, a significant premium compared to many other developed markets.
This gap exists because new construction in Japan must meet stringent earthquake standards and includes modern insulation and mechanical systems, plus Japanese buyers place high value on warranties and lower maintenance uncertainty that come with new properties.
Buying real estate in Japan can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Japan in 2026?
In Minato ward, one of Tokyo's most prestigious neighborhoods, you'll find luxury tower condos, embassy-adjacent residences, and properties near international schools. A typical 70 square meter resale condo here costs around ¥127 million to ¥171 million ($814,000 to $1.1 million), reflecting the area's status as the top choice for affluent expats and executives.
Setagaya ward offers a more family-oriented environment with quieter residential streets and good schools, making it popular with Japanese families and long-term foreign residents. Prices for a 70 square meter resale condo range from ¥61 million to ¥82 million ($391,000 to $526,000), offering a balance between livability and relative affordability within the 23 wards.
Adachi ward represents Tokyo's most affordable entry point among the 23 wards, with older housing stock and less convenient transit access to central business districts. A 70 square meter resale condo here costs ¥31 million to ¥43 million ($199,000 to $276,000), making it attractive for budget-conscious buyers willing to accept longer commutes.
You will find a much more detailed analysis by areas in our property pack about Japan. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Type | Avg Price Range (70sqm) | Avg Price per sqm | Avg Price per sqft |
|---|---|---|---|---|
| Chiyoda | Ultra-prime / Business | ¥172M-¥233M ($1.1M-$1.5M) | ¥2.5M-¥3.3M ($16k-$21k) | ¥229k-¥309k ($1,470-$1,980) |
| Minato | Expat / Luxury | ¥127M-¥171M ($814k-$1.1M) | ¥1.8M-¥2.4M ($11.5k-$15.4k) | ¥168k-¥228k ($1,080-$1,460) |
| Chuo | Bay / Towers | ¥115M-¥155M ($737k-$994k) | ¥1.6M-¥2.2M ($10.3k-$14.1k) | ¥152k-¥206k ($975-$1,320) |
| Shibuya | Popular / Lifestyle | ¥113M-¥153M ($725k-$981k) | ¥1.6M-¥2.2M ($10.3k-$14.1k) | ¥150k-¥203k ($962-$1,302) |
| Shinjuku | Commute / Mixed | ¥80M-¥108M ($513k-$692k) | ¥1.1M-¥1.5M ($7.1k-$9.6k) | ¥106k-¥144k ($680-$923) |
| Bunkyo | Family / Calm | ¥77M-¥104M ($494k-$667k) | ¥1.1M-¥1.5M ($7.1k-$9.6k) | ¥102k-¥138k ($654-$885) |
| Meguro | Family / Premium | ¥77M-¥104M ($494k-$667k) | ¥1.1M-¥1.5M ($7.1k-$9.6k) | ¥102k-¥138k ($654-$885) |
| Shinagawa | Commute / Value | ¥63M-¥85M ($404k-$545k) | ¥0.9M-¥1.2M ($5.8k-$7.7k) | ¥84k-¥112k ($538-$718) |
| Setagaya | Family | ¥61M-¥82M ($391k-$526k) | ¥0.9M-¥1.2M ($5.8k-$7.7k) | ¥81k-¥109k ($519-$699) |
| Koto | Family / Bay | ¥60M-¥81M ($385k-$519k) | ¥0.9M-¥1.2M ($5.8k-$7.7k) | ¥80k-¥108k ($513-$692) |
| Nerima | Value / Family | ¥42M-¥57M ($269k-$365k) | ¥0.6M-¥0.8M ($3.8k-$5.1k) | ¥56k-¥75k ($359-$481) |
| Adachi | Entry / Value | ¥31M-¥43M ($199k-$276k) | ¥0.4M-¥0.6M ($2.6k-$3.5k) | ¥42k-¥56k ($269-$359) |
How much more do you pay for properties in Japan when you include renovation work, taxes, and fees?
In Japan in 2026, you should expect to pay an additional 7% to 12% on top of the purchase price for existing homes (covering fees, taxes, and light renovation), or 4% to 8% for new homes where renovation is typically unnecessary.
If you buy a property around $200,000 (approximately ¥31 million) in Japan, you would add roughly ¥2.2 million to ¥3.7 million ($14,000 to $24,000) for brokerage fees, registration, legal costs, and basic updates. Your total outlay would land around ¥33 million to ¥35 million ($212,000 to $224,000).
For a $500,000 property (approximately ¥78 million), additional costs would range from ¥5.5 million to ¥9.4 million ($35,000 to $60,000), bringing your total to roughly ¥83 million to ¥87 million ($535,000 to $560,000) depending on how much renovation work the property needs.
At the $1,000,000 level (approximately ¥156 million), expect to add ¥11 million to ¥19 million ($70,000 to $122,000) for a total investment of ¥167 million to ¥175 million ($1.07 million to $1.12 million), with the range depending heavily on whether you're buying new construction or an older unit requiring updates.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Japan.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Japan
| Expense | Category | Estimated Cost Range and Explanation |
|---|---|---|
| Brokerage Fee | Transaction | ¥600,000 to ¥1,500,000 ($3,800 to $9,600). This is typically 3% of the purchase price plus a small fixed amount, paid to the real estate agent who facilitated the transaction. Fees are negotiable on higher-value properties. |
| Registration and Legal Fees | Transaction | ¥200,000 to ¥600,000 ($1,300 to $3,800). Covers the judicial scrivener (shiho shoshi) who handles property registration with the legal affairs bureau. More complex transactions or higher-value properties sit at the upper end. |
| Stamp Duty | Taxes | ¥50,000 to ¥200,000 ($320 to $1,280). A government tax on the sales contract that scales with the property value. Most residential purchases fall in the lower portion of this range. |
| Real Estate Acquisition Tax | Taxes | ¥100,000 to ¥500,000 ($640 to $3,200). A one-time prefectural tax assessed a few months after purchase, calculated as a percentage of the assessed property value. Reductions apply for primary residences. |
| Light Renovation | Renovation | ¥800,000 to ¥3,000,000 ($5,100 to $19,200). Covers cosmetic updates like flooring, wallpaper, and fixture replacements. Most older condos benefit from at least light refreshing to meet modern standards. |
| Full Renovation | Renovation | ¥3,000,000 to ¥8,000,000+ ($19,200 to $51,300+). A complete interior overhaul including kitchen, bathroom, and layout changes. Necessary for very dated properties but can significantly increase resale value and livability. |
| Mortgage-Related Fees | Financing | ¥100,000 to ¥400,000 ($640 to $2,560). Includes loan guarantee fees, mortgage registration, and bank administrative charges. Varies by lender and loan amount. |
| Fire and Earthquake Insurance | Insurance | ¥50,000 to ¥200,000 ($320 to $1,280) for first year. Required by most lenders and highly recommended given Japan's seismic activity. Multi-year policies offer discounts. |
We made this infographic to show you how property prices in Japan compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Japan in 2026 with different budgets?
With $100,000 (approximately ¥15.6 million) in Japan in 2026, you can purchase an existing 1LDK condo of 35 to 40 square meters in an outer Saitama commuter hub in an older building, or a compact 30 to 35 square meter condo near a Chiba suburban station, or a small existing house in a regional city suburb that needs some renovation work.
With $200,000 (approximately ¥31 million), you can buy an existing 2LDK condo of 55 to 65 square meters in Tokyo's outer wards like Adachi or Katsushika in an older building, or a similar-sized condo in the Osaka or Nagoya commuter belt, or an existing detached house of 90 to 110 square meters in a regional city in decent condition.
With $300,000 (approximately ¥47 million), your options expand to an existing family condo of around 70 square meters in well-connected areas like Shinagawa or Setagaya in an older building, or a new built-for-sale house of 90 to 105 square meters in the greater Tokyo commuter belt, or an existing condo of around 65 square meters in nicer bay-area districts.
With $500,000 (approximately ¥78 million), you can purchase an existing condo of around 70 square meters in desirable areas like Shinjuku or Bunkyo wards, or a newer condo of 60 to 75 square meters in Koto bay towers depending on the building, or a larger existing detached house of 110 to 140 square meters in a premium suburban location.
With $1,000,000 (approximately ¥156 million), you enter prime territory with a newer tower condo of 70 to 90 square meters in Minato ward, or a larger luxury condo of 90 to 110 square meters in Shibuya or Chuo's best pockets, or a high-end detached house at a premium suburban rail node.
With $2,000,000 (approximately ¥312 million), you're firmly in luxury territory and can purchase an ultra-prime condo of 110 to 140 square meters in Minato or Chiyoda in a newer tower, or a premium penthouse-style unit of 120 square meters or more in Shibuya or Minato, or a trophy property at a central Tokyo address in a top-tier building.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Japan.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Japan, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Japan Housing Finance Agency (JHF) | A public agency publishing nationwide borrower data for one of Japan's largest mortgage programs. | We used their "required funds" data by property type as our baseline for average prices. This reflects what buyers actually pay, not listing prices. |
| LIFULL HOME'S | One of Japan's largest property portals with transparent methodology on how they compute averages. | We used their data for neighborhood-level price comparisons within Tokyo's 23 wards. We converted their 70 square meter averages into per-sqm figures. |
| BIS Residential Property Price Database (via FRED) | The Bank for International Settlements is the global standard for cross-country property price comparisons. | We used their index to calculate Japan's 10-year price change consistently. We then adjusted for inflation using Japan's CPI data. |
| Statistics Bureau of Japan | Japan's official CPI publisher under the Statistics Act. | We used their inflation data to calculate real (inflation-adjusted) price changes. We combined historical and recent CPI readings for accurate comparisons. |
| Reuters (Japan Land Price Survey) | Reliable international news agency citing official MLIT land price survey data. | We used their reporting to explain why housing prices have risen. Land price growth helps explain construction cost and scarcity pressures. |
| Reuters (Japan Inflation Data) | Trusted source for current economic indicators and Bank of Japan policy context. | We used their inflation reporting to understand current construction cost pressures. This helps explain the gap between new and existing home prices. |
| ExchangeRates.org.uk (USD/JPY) | Transparent daily exchange rate history for currency conversions. | We used late-2025 averages to establish our January 2026 conversion rate of $1 = ¥156. All dollar figures use this rate consistently. |
| ExchangeRates.org.uk (EUR/JPY) | Transparent daily exchange rate history for euro conversions. | We used late-2025 averages to establish our January 2026 conversion rate of €1 = ¥172. All euro figures use this rate consistently. |
| Ministry of Land, Infrastructure, Transport and Tourism (MLIT) | Japan's government ministry responsible for land and housing policy. | We referenced their official land price surveys as cited by Reuters. This data helps explain regional price variations across Japan. |
| Real Estate Information Network System (REINS) | Japan's official real estate transaction database used by licensed agents. | We used REINS data indirectly through JHF and portal sources to validate transaction prices. This ensures our figures reflect actual market activity. |
| Real Estate Companies Association of Japan | Industry association representing major Japanese real estate firms. | We referenced their market reports to understand transaction fee structures. This informed our estimates of additional buying costs. |
| Tokyo Kantei | Leading Japanese real estate research firm specializing in condo market data. | We cross-referenced their Tokyo ward price data with HOME'S figures. This helped validate our neighborhood price estimates. |
| National Tax Agency of Japan | Official source for property tax rates and land value assessments. | We used their guidelines to estimate acquisition taxes and stamp duties. This ensures our additional cost estimates are accurate. |
| Bank of Japan | Japan's central bank providing monetary policy and economic data. | We referenced their interest rate decisions to understand mortgage market conditions. This context helps explain current buying patterns. |
| SUUMO (Recruit) | Japan's largest real estate portal with extensive listing data. | We cross-referenced SUUMO listings with HOME'S data to validate price ranges. This ensures our estimates reflect broad market conditions. |
| At Home | Major Japanese property portal with strong regional coverage. | We used At Home data to validate prices outside Tokyo. This helped ensure our national averages aren't skewed by metro-area data. |
| e-Stat (Portal Site of Official Statistics of Japan) | Japan's official statistics portal aggregating government data. | We accessed housing transaction statistics and demographic data. This context helps explain regional price variations. |
| Japan Federation of Shiho-Shoshi Lawyers | Professional association for judicial scriveners handling property registration. | We referenced their fee guidelines for registration and legal costs. This ensures our transaction cost estimates are realistic. |
| Japan Federation of Real Estate Associations | National federation representing local real estate associations across Japan. | We used their published brokerage fee guidelines. This informed our estimates of agent fees in the buying cost table. |
| Japan Real Estate Institute | Non-profit research organization providing property market analysis. | We referenced their market indices to validate BIS/FRED data. This cross-check ensures our historical comparisons are accurate. |
| National Institute of Population and Social Security Research | Government institute providing demographic projections for Japan. | We used demographic trends to understand regional price dynamics. Population shifts help explain why certain areas appreciate differently. |
| Construction Research Institute | Leading source for construction cost data in Japan. | We referenced their cost indices to understand the new-vs-existing price gap. Rising construction costs explain why new homes carry a premium. |
| ValutaFX | Transparent exchange rate history provider for currency verification. | We used their data to cross-check our exchange rate assumptions. This ensures our currency conversions are based on reliable recent rates. |
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