Karuizawa¶
A resort driven mainly by second-home demand from Greater Tokyo; remote work has added demand for relocation and dual living.
What to watch: Figures swing because transaction counts are small; changes in wealthy Tokyo buyers' capacity show up here first.
Resale condominium closing prices (MLIT)¶
Price per m² in units of ¥10,000 (万円). Quarters with fewer than 10 closings are not shown.
| Quarter | Median price per m² (¥10k) | Closings |
|---|---|---|
| 2024 Q2 | 91.7 | 18 |
| 2024 Q3 | 57.1 | 15 |
| 2024 Q4 | 68.0 | 20 |
| 2025 Q1 | 57.4 | 10 |
| 2025 Q2 | 73.3 | 16 |
| 2025 Q3 | 66.7 | 19 |
| 2025 Q4 | 78.8 | 19 |
| 2026 Q1 | 102.9 | 15 |
- Year-on-year change in median price per m²: +79.3% (2026 Q1)
By floor plan (resale condominiums, last 4 quarters)¶
2025 Q2 to 2026 Q1. Floor plans with fewer than 10 closings are not shown. "S" (service room) is not counted as a room.
| Floor plan | Closings | Median price (¥10k) | Median per m² (¥10k) | Median size (m²) | Per m², year on year |
|---|---|---|---|---|---|
| 1LDK | 11 | 2,500 | 56.4 | 55.0 | +40.9% |
| 2 rooms (2K-2LDK) | 48 | 7,100 | 88.2 | 75.0 | -3.5% |
Houses and land (MLIT)¶
Transaction prices from MLIT's survey of registered sales. Prices in ¥10,000. Quarters with fewer than 20 deals are not shown.
| Quarter | Median house price (¥10k) | House deals | Houses under ¥10m | Median land price per m² (¥10k) |
|---|---|---|---|---|
| 2025 Q1 | 6,300 | 37 | 10.8% | 3.3 |
| 2025 Q2 | 4,900 | 35 | 17.1% | 3.9 |
| 2025 Q3 | 4,200 | 44 | 11.4% | 4.5 |
| 2025 Q4 | 2,800 | 32 | 18.8% | 3.1 |
Official land prices (Chika Koji, MLIT)¶
Prices of standard sites as of 1 January each year (published in March). The change is the average for sites that continue from the previous year.
| Year | Use | Median (¥ per m²) | Change | Sites |
|---|---|---|---|---|
| 2024 | Commercial | 125,500 | +6.3% | 2 |
| 2025 | Commercial | 139,250 | +10.5% | 2 |
| 2026 | Commercial | 160,000 | +14.3% | 2 |
| 2024 | Residential | 27,300 | +7.8% | 6 |
| 2025 | Residential | 30,750 | +11.2% | 6 |
| 2026 | Residential | 34,600 | +11.8% | 6 |
This service uses the API of the MLIT Real Estate Information Library, but the timeliness, accuracy and completeness of the information provided are not guaranteed. (このサービスは、国土交通省不動産情報ライブラリのAPI機能を使用していますが、提供情報の最新性、正確性、完全性等が保証されたものではありません。)
Figures are medians of individual transactions and change with the mix of what sold. Regime labels are our own interpretation, not investment advice.