Japan property market by area
Area pages built from Japanese government data (MLIT Real Estate Information Library and others). Municipality pages and more detail are available in Japanese.
Overview
Japan's property market has been through a long rise in central Tokyo and other big-city condominium prices, while many rural areas face population decline and growing numbers of vacant homes. With the Bank of Japan normalising policy, we track where prices are still rising and where a correction is starting, area by area.
Current phase of the areas below (our own call; areas without monthly statistics use a simplified quarterly call):
| Phase |
Areas |
| Overheating / still rising |
30 |
| Plateau (high prices, easing demand) |
12 |
| Early correction |
9 |
| Correction under way |
3 |
| Declining |
2 |
Prefectures with the largest year-on-year changes in the median resale condominium price per m² (MLIT, latest quarter, prefectures with at least 50 closings in both quarters; medians move with the mix of what sold):
Greater Tokyo
| Area |
Phase |
Adjustment pressure |
| Greater Tokyo (Tokyo, Kanagawa, Saitama, Chiba) |
Correction under way |
63 |
| Tokyo Metropolis |
Overheating / still rising |
17 |
| Tokyo 23 Wards |
Declining |
83 |
| Central 3 Wards (Chiyoda, Chuo, Minato) |
Declining |
100 |
| Central 6 Wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Shibuya) |
Plateau (high prices, easing demand) |
33 |
| Central 5 Wards (Chiyoda, Chuo, Minato, Shinjuku, Shibuya) |
Plateau (high prices, easing demand) (simplified) |
22 |
| Tokyo Bayside (Chuo, Koto, Minato waterfront) |
Plateau (high prices, easing demand) (simplified) |
30 |
| South-west Tokyo 6 Wards |
Overheating / still rising (simplified) |
11 |
| North-east Tokyo 11 Wards |
Overheating / still rising (simplified) |
11 |
| Yokohama and Kawasaki |
Overheating / still rising (simplified) |
0 |
| Rest of Kanagawa |
Overheating / still rising |
0 |
| Saitama Prefecture |
Overheating / still rising |
0 |
| Chiba Prefecture |
Overheating / still rising |
0 |
| Yokohama City |
Overheating / still rising |
0 |
| Saitama City |
Overheating / still rising |
0 |
| Chiba City |
Overheating / still rising |
0 |
| Kanagawa Prefecture |
Overheating / still rising (simplified) |
11 |
Kinki (Osaka, Kyoto, Kobe)
| Area |
Phase |
Adjustment pressure |
| Central Osaka 6 Wards (Kita, Chuo, Nishi, Fukushima, Tennoji, Naniwa) |
データ不足 (参考値) |
100 |
| Kinki Region (Osaka, Kyoto, Hyogo, Nara, Shiga, Wakayama) |
Early correction |
57 |
| Osaka City |
Early correction |
46 |
| Osaka Prefecture |
Correction under way |
67 |
| Hyogo Prefecture |
Plateau (high prices, easing demand) |
22 |
| Kyoto Prefecture |
Plateau (high prices, easing demand) |
35 |
| Nara Prefecture |
Correction under way (simplified) |
73 |
| Shiga Prefecture |
Early correction |
48 |
| Wakayama Prefecture |
Early correction (simplified) |
44 |
| Kobe City |
Overheating / still rising |
17 |
Chubu (Nagoya)
Hokkaido and Tohoku
North Kanto and Koshinetsu
Hokuriku
Chugoku
Shikoku
Kyushu and Okinawa