Average House Prices in Japan by City: Tokyo, Osaka, Fukuoka & More (2026)
Average house prices in Japan range from ¥25M in regional cities to ¥70M+ for new condos in central Tokyo. Compare prices by city and property type to understand what your budget gets you.
Average house prices in Japan range from around ¥25–35 million in regional cities to over ¥70 million for new condominiums in central Tokyo. If you're trying to figure out what your budget buys in different Japanese cities, this guide breaks it down by city, property type, and price bracket.
What this article covers:
- New condo, used condo, and detached house prices by city
- Tokyo neighborhood price breakdown (central vs. suburban)
- Why property prices are high in Japan
- Price trends 2020–2026
- What ¥20M, ¥30M, ¥40M, ¥50M gets you
- Tips for foreign buyers navigating the market
Average House Prices by City and Property Type (2026)
The table below shows approximate median prices for three major property categories across Japan's key cities. Figures reflect 2025–2026 market data from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) and real estate industry reports.
| City | New Condo (per unit) | Used Condo (per unit) | New Detached House (incl. land) |
|---|---|---|---|
| Tokyo 23 Wards | ¥71M | ¥45M | ¥65M+ |
| Yokohama | ¥55M | ¥32M | ¥50M |
| Osaka | ¥55M | ¥30M | ¥38M |
| Nagoya | ¥42M | ¥23M | ¥35M |
| Fukuoka | ¥38M | ¥22M | ¥30M |
| Sapporo | ¥30M | ¥18M | ¥27M |
| Sendai | ¥32M | ¥19M | ¥28M |
| Regional cities | ¥25–30M | ¥15–20M | ¥22–28M |
Prices are approximate medians. New condo figures reflect newly marketed units, not resale. Significant variation exists within each city.
For Tokyo specifically, new condo prices have exceeded an average of ¥70M per unit since 2023 — a figure that reflects the concentration of high-end developments in the city center.
Tokyo: Price Breakdown by Area
Tokyo's property market is deeply segmented by location. The difference between central Tokyo and suburban areas can be ¥20–30M for comparable properties.
New Condominiums in Tokyo (per 70m² unit, approximate)
| Area | Price Range | Key Neighborhoods |
|---|---|---|
| Central (Yamanote line interior) | ¥80M–¥150M+ | Minato, Shibuya, Shinjuku, Chiyoda |
| Inner suburban | ¥60M–¥80M | Meguro, Setagaya, Nakano, Suginami |
| Outer 23 wards | ¥45M–¥65M | Nerima, Adachi, Edogawa, Itabashi |
| Tama / West Tokyo | ¥35M–¥50M | Tachikawa, Hachioji, Machida |
| Kanagawa / Saitama / Chiba | ¥30M–¥50M | Kawasaki, Yokohama, Saitama City, Chiba City |
For foreign buyers looking at Tokyo on a ¥40–50M budget, the realistic options are outer 23-ward condos (2LDK, 60–70m²) or 3LDK condos in Tama or the surrounding prefectures.
If you're comparing affordability across cities, see Can I Afford to Buy a House in Japan? for salary-based calculations.
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Try the Rent Affordability Calculator →Why Are House Prices in Japan So High?
Japan's property prices — especially in Tokyo and Osaka — have surged over the past decade. Several structural factors drive this:
1. Land Scarcity in Urban Areas
Japan is a mountainous country with roughly 70% of the land uninhabitable. In Tokyo, usable residential land is limited and concentrated. The Yamanote loop — home to most major commercial hubs — is geographically small, and demand for proximity to it is intense.
2. Rising Construction Costs
Material costs (steel, concrete, lumber) rose 20–30% between 2020 and 2025 due to global supply chain disruptions and the weak yen. Labor costs in Japan's construction sector have also risen steadily due to an aging workforce. New builds today cost significantly more to construct than a decade ago.
3. Weak Yen and Foreign Investment
The yen's sustained weakness since 2022 has made Japanese property attractive to foreign investors. A property priced at ¥70M in central Tokyo translates to roughly $470,000 USD at current rates — relatively accessible for buyers holding dollars or euros. This foreign demand has added upward pressure to prices in central locations.
4. Low Interest Rates for Decades
Japan's Bank of Japan kept interest rates near zero for over two decades. Low borrowing costs made large mortgages more affordable, supporting higher price points. As rates have started to normalize (variable rates now 0.3–1.0%), some cooling is expected — but prices remain elevated.
Price Trends 2020–2026: A 30%+ Rise
The past six years have seen dramatic price appreciation across Japan's urban property markets.
| Year | Tokyo New Condo Avg. Price | YoY Change |
|---|---|---|
| 2020 | ¥61M | — |
| 2021 | ¥62M | +2% |
| 2022 | ¥65M | +5% |
| 2023 | ¥71M | +9% |
| 2024 | ¥74M | +4% |
| 2025 | ¥75M (est.) | +1% |
| 2026 | ¥73–76M (est.) | Flat to slight decline |
Source: Real Estate Economic Institute (不動産経済研究所) annual reports.
The cumulative increase from 2020 to 2025 is roughly +23% for new condos in Tokyo — and significantly more for some inner-city neighborhoods. Regional cities like Fukuoka and Sapporo have also seen 20–30% increases over the same period, driven by remote-work migration and infrastructure investment.
Forecasts for 2026 suggest prices are plateauing in most markets, with slight softening possible if interest rate normalization continues. For a detailed outlook, see Japan Mortgage Rates 2026.
What Your Budget Gets You in Japan
¥20 Million Budget
- Regional cities: 2LDK used condo (60–70m²), 10–20 years old, reasonable neighborhood
- Osaka/Nagoya suburbs: Small used condo (40–50m²) or older unit further from the center
- Tokyo: Very limited options; tiny used studio in outer wards or distant suburbs only
- Best strategy: Regional city purchase, or rent in Tokyo and buy elsewhere
¥30 Million Budget
- Regional cities: New condo (65–75m²) or new detached house with land
- Osaka: Used condo (60–70m²) in an inner neighborhood, 10–15 years old
- Nagoya/Fukuoka: New condo (65m²) in a well-located area
- Tokyo: Used condo (40–55m²) in outer 23 wards or Tama area
¥40 Million Budget
- Regional cities: Premium new condo or spacious detached house with good finishes
- Osaka: New condo (65–75m²) in a central or near-central neighborhood
- Fukuoka: New condo in a top location or comfortable detached house
- Tokyo: Used condo (60–70m²) in inner-suburban wards, or new condo in outer wards
¥50 Million Budget
- Osaka: New condo (75–85m²) in a prime location or a detached house in a desirable suburb
- Yokohama/Kawasaki: New condo (70–80m²) near a major station
- Tokyo: New condo (60–70m²) in the outer 23 wards or used condo (65–75m²) in an inner ward
¥70 Million+ Budget
- Tokyo: New condo (70m²) in inner-suburban wards (Meguro, Nakano, Setagaya) or a used single-family home in the city
- Central Tokyo: Entry point for new condos in prestige areas (Minato, Shibuya, etc.)
Tips for Foreign Buyers Navigating High Prices
Understand Total Acquisition Costs
The listed price is not what you pay. Budget 6–10% on top for:
| Cost Item | Approximate Amount |
|---|---|
| Real estate agent commission | 3.3% of purchase price (incl. tax) |
| Registration taxes (登録免許税) | 0.1–0.4% of assessed value |
| Real estate acquisition tax (不動産取得税) | 3–4% of assessed value |
| Judicial scrivener fee | ¥100,000–¥200,000 |
| Moving costs and new furniture | ¥200,000–¥1,000,000 |
| Property management reserve (new condos) | ¥500,000–¥1,500,000 |
For a ¥50M property, expect total acquisition costs of ¥52–55M.
Mortgage Access for Foreigners
Foreign buyers without permanent residency can still get mortgages in Japan, but options are more limited. Some major banks and regional lenders accept long-term visa holders with stable employment. For details, see How to Get a Mortgage in Japan as a Foreigner.
Down payment requirements for non-PR foreigners typically range from 20–30% vs. 10% for Japanese nationals or PR holders.
Consider Used Over New
New condos in Japan carry a premium of 30–50% over comparable used units. A 10-year-old condo in good condition, well-managed, often represents far better value. The gap is especially significant in Tokyo, where new-build prices have reached speculative levels in some areas.
Resale Value by Property Type
| Property Type | Resale Value Retention |
|---|---|
| Well-located used condo (inner cities) | High — often appreciates |
| New condo in outer suburbs | Moderate — may depreciate after 10 years |
| Detached house (standalone) | Lower — land value stable, structure depreciates |
| Pre-owned detached house | Highly variable by location |
Location remains the dominant factor. A well-positioned condo near a major station in Tokyo, Osaka, or Fukuoka has historically held or grown in value. Remote suburban detached houses carry more resale risk.
Foreign Ownership Rights
There are no legal restrictions on foreigners buying property in Japan. You do not need a visa or residency permit to purchase. However, getting a mortgage as a non-resident foreigner is very difficult — most purchases by non-residents are done in cash. For a full legal and practical breakdown, see Can Foreigners Buy Property in Japan?.
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