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Nagoya's real estate market in September 2025 shows strong momentum with property prices rising 7.5% in the past year.
The average price per square meter in Nagoya's city center reaches approximately ¥365,000, making new apartments significantly more affordable than Tokyo's comparable properties. Standard 70-80 sqm units in desirable Nagoya locations range from ¥40 million to ¥60 million, while similar Tokyo properties exceed ¥110 million.
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Nagoya's property market offers excellent value compared to Tokyo, with new apartments priced 45-50% lower in prime areas.
Rental yields have declined to 3.54% in Q1 2025 from 4.2% the previous year, but the city remains attractive for long-term capital appreciation.
| Property Type | Price Range (¥ millions) | Price per sqm (¥) |
|---|---|---|
| City center apartment (70-80 sqm) | 40-60 | 365,000 |
| Suburban apartment (70-80 sqm) | 25-35 | 280,000 |
| Luxury apartment (100+ sqm) | 80-120 | 450,000 |
| Single-family house (120-150 sqm) | 50-85 | 320,000 |
| Investment studio (30-40 sqm) | 15-25 | 400,000 |
| Commercial property (per sqm) | N/A | 500,000 |
| Land only (central areas) | Varies | 180,000 |
What is the current average price per square meter in Nagoya?
The average price per square meter for properties in Nagoya's city center is approximately ¥365,000 as of September 2025.
This pricing varies significantly by location within the metropolitan area. Premium areas like Sakae and Meieki command higher prices, often reaching ¥400,000-450,000 per square meter for new developments.
Suburban areas offer more affordable options, with prices typically ranging from ¥250,000 to ¥300,000 per square meter. The variation reflects proximity to transportation hubs, commercial centers, and overall neighborhood desirability.
Compared to Tokyo's central wards where prices can exceed ¥800,000 per square meter, Nagoya presents a significantly more accessible entry point into Japan's real estate market.
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How much does a typical apartment cost in Nagoya right now?
New apartments in desirable Nagoya locations range from ¥40 million to ¥60 million for standard 70-80 square meter units.
Studio apartments (30-40 sqm) suitable for investment purposes typically cost between ¥15 million and ¥25 million in central areas. These smaller units often yield higher rental returns due to strong demand from single professionals and students.
Luxury apartments exceeding 100 square meters command prices from ¥80 million to ¥120 million, particularly in premium towers near Nagoya Station or Sakae district. These properties often include premium amenities and prime city views.
Older apartments (10+ years) offer more budget-friendly options, with prices typically 20-30% lower than new construction. However, buyers should factor in potential renovation costs and lower resale values.
Family-sized units (90-120 sqm) in mid-range neighborhoods typically fall between ¥35 million and ¥55 million.
What are the best areas to buy property in Nagoya for investment?
Sakae, Fushimi, and Meieki districts remain the top choices for property investment in Nagoya due to their strong rental demand and appreciation potential.
Sakae serves as Nagoya's lifestyle and retail hub, attracting young professionals who prefer proximity to shopping, dining, and entertainment venues. Properties here show consistent rental demand with occupancy rates typically above 90%.
Meieki, centered around Nagoya Station, benefits from excellent transportation connectivity including the Tokaido Shinkansen and multiple subway lines. The upcoming Maglev Chuo Shinkansen will further enhance this area's investment appeal.
Fushimi district offers a balanced mix of office buildings and residential properties, making it attractive for both business tenants and professionals working in nearby commercial areas.
Emerging neighborhoods around planned infrastructure developments, particularly those along the future Maglev route, present opportunities for long-term capital appreciation.
How have Nagoya property prices changed over the past five years?
| Year | Average Annual Price Change | Cumulative Growth |
|---|---|---|
| 2020-2021 | +1.8% | 1.8% |
| 2021-2022 | +2.5% | 4.4% |
| 2022-2023 | +3.1% | 7.7% |
| 2023-2024 | +3.2% | 11.2% |
| 2024-2025 | +7.5% | 19.5% |
| 5-Year Average | +2.8% | - |
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What are the current rental yields in Nagoya?
Rental yields in Nagoya have declined to approximately 3.54% in Q1 2025, down from 4.2% in the same period last year.
This decrease reflects the combination of rising property prices and competitive rental market conditions. While yields have compressed, Nagoya still offers more attractive returns compared to Tokyo's typical yields of 2.5-3.0%.
Studio apartments and compact units generally achieve higher yields, often reaching 4.0-4.5%, due to strong demand from students and young professionals. Larger family apartments typically yield 3.0-3.5%.
Premium properties in central locations may yield lower returns (2.8-3.2%) but offer better prospects for capital appreciation over time.
Investors should consider the total return potential, combining rental income with expected capital growth, rather than focusing solely on current yield percentages.
How do Nagoya property prices compare to Tokyo and Osaka?
Nagoya offers significantly more affordable property prices compared to both Tokyo and Osaka, making it an attractive entry point into Japan's real estate market.
A standard 70-80 sqm apartment in central Nagoya costs ¥40-60 million, while comparable units in Tokyo's central wards exceed ¥110 million. Osaka properties fall between these ranges at ¥65-85 million for similar specifications.
Price per square meter comparisons show Nagoya at ¥365,000 versus Tokyo's ¥800,000+ and Osaka's ¥500,000-600,000 in central areas. This pricing gap provides substantial value for investors and residents.
Rental yields also favor Nagoya at 3.54% compared to Tokyo's 2.5-3.0% and Osaka's 3.2-3.8%, offering better cash flow potential for investment properties.
The affordability advantage positions Nagoya as an excellent choice for first-time investors in Japanese real estate or those seeking multiple property acquisitions.
What types of properties are most popular among buyers in Nagoya?
Compact apartments (50-80 sqm) in central locations dominate buyer preferences in Nagoya's current market.
- Investment studios (30-40 sqm): Popular among investors seeking steady rental income from students and young professionals working in central business district
- Family apartments (70-90 sqm): Attract both owner-occupiers and investors targeting families and professional couples
- New construction condominiums: Preferred for their modern amenities, earthquake resistance, and lower maintenance requirements
- Properties near transportation hubs: Especially those within walking distance of subway stations and Nagoya Station
- Mixed-use buildings: Offering residential units above retail or office space, popular in commercial districts like Sakae
What additional costs should I expect when buying property in Nagoya?
Property acquisition in Nagoya involves several additional costs beyond the purchase price, typically totaling 6-10% of the property value.
Registration taxes and legal fees usually account for 2-3% of the purchase price, covering property title transfer and legal documentation. Stamp duties add approximately 0.1-0.3% depending on the property value.
Real estate agent commissions in Japan typically reach 3% plus ¥60,000 and consumption tax, making this often the largest additional expense. Buyers should budget accordingly for this mandatory cost.
Property inspection and survey fees range from ¥100,000 to ¥300,000, depending on property size and complexity. Fire insurance and earthquake insurance add annual costs of ¥20,000-50,000.
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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.
Is now a good time to buy property in Nagoya?
September 2025 presents favorable conditions for property acquisition in Nagoya, despite recent price increases.
The 7.5% price growth in the past year indicates strong market momentum, but Nagoya remains significantly undervalued compared to Tokyo and Osaka. This pricing gap suggests continued appreciation potential as the city develops further.
Infrastructure developments including the upcoming Maglev Chuo Shinkansen and various urban renewal projects support long-term value growth. These improvements will enhance connectivity and economic activity in the region.
Interest rates remain relatively favorable for property financing, though buyers should monitor Bank of Japan policy changes that could affect borrowing costs.
The current supply-demand balance favors buyers in certain segments, particularly in emerging neighborhoods where new developments provide various options and competitive pricing.
What financing options are available for property purchases in Nagoya?
Foreign buyers can access various financing options for Nagoya property purchases, though requirements are typically stricter than for Japanese nationals.
- Japanese bank mortgages: Major banks offer loans up to 70-80% of property value for foreign residents with stable income
- International bank branches: Some global banks provide familiar lending processes and multi-language service
- Non-bank lenders: Specialized real estate finance companies often offer more flexible terms for investment properties
- Cash purchases: Many foreign investors choose all-cash transactions to simplify the process and strengthen negotiating positions
- Corporate financing: Establishing a Japanese corporation can improve loan eligibility and terms
What are the ongoing costs of owning property in Nagoya?
Property ownership in Nagoya involves several recurring expenses that buyers should factor into their investment calculations.
Property management fees for condominiums typically range from ¥8,000 to ¥15,000 per month, depending on building amenities and services. This covers common area maintenance, security, and building management.
Annual property taxes (fixed asset tax and city planning tax) generally total 1.4-1.7% of the assessed property value. These taxes are payable quarterly and based on municipal assessments updated every three years.
Insurance costs including fire and earthquake coverage average ¥30,000-60,000 annually for typical apartments, with premiums varying by property age, construction type, and coverage levels.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Nagoya's real estate market in September 2025 offers compelling opportunities for both investors and residents seeking affordable entry into Japan's property market.
While prices have risen 7.5% in the past year, the city remains significantly more affordable than Tokyo and Osaka, with strong infrastructure development supporting future growth prospects.