Average Price of an Apartment in Japan in 2022 — Ranked by Prefecture

In this post we rank Japan’s 47 prefectures by the average listing price for a re-sale apartment.

For the 2021 ranking, please see this article: Average price of an apartment in Japan in 2021.

Here are the key takeaways thus far for 2022, based on the latest listing data from March:

  • The nationwide average listing price for a re-sale apartment in Japan is ¥20,935,532 ($161,043 USD @ 130JPY to 1 USD)
    • This is a YoY increase of 6.7% compared to March 2021
    • The percentage increase is two points up versus the 4.7% YoY increase in the 2021 v. 2020 ranking
    • Ten prefectures of 47 saw declining average YoY listing prices, with Yamagata having the biggest drop (down 6.1%)
  • The nationwide median listing price is ¥18,260,000 ($140,462 USD)
    • This is a YoY increase of 1.8%
  • The Tokyo average listing price of ¥62,510,000 ($480,846 USD) was 299% of the national average.
    • In the 2021 ranking, the Tokyo average was 286% of the national average
  • 44 of Japan’s 47 prefectures had average listing prices that were at least 50% less expensive than that of Tokyo.
    • This compares to 43 of 47 in the 2021 ranking and 42 of 47 in the 2020 ranking
    • This means that price disparity has increased between Tokyo and most other prefectures
  • In 37 of Japan’s 47 prefectures the average listing price rose year-on-year compared to April 2020.
    • This compares to 38 of 47 in the 2021 ranking and 32 of 47 in the 2020 ranking

Price appreciation in the existing home market is expected to increase this year due to the continuing low interest rate environment and both demand and supply factors. For more on these trends, please see: 2021 was a record breaking year for sales of pre-owned apartments and single-family homes in greater Tokyo.

Where did prices rise the most in percentage terms?

Here is the Top 10 ranking of prefectures where average listing prices rose the most in percentage terms:

Rank Prefecture March 2022
Average Listing Price
in JPY
March 2022
% Price Change
v. March 2021
1 Kagoshima 22,600,000 16.9%
2 Kanagawa 34,520,000 15.9%
3 Gifu 17,090,000 15.5%
4 Wakayama 14,290,000 15.3%
5 Kochi 20,390,000 15.3%
6 Saitama 28,140,000 14.0%
7 Oita 17,160,000 13.7%
8 Tokyo 62,510,000 12.9%
9 Okayama 22,680,000 12.6%
10 Hokkaido 20,010,000 12.5%

Where did prices fall year-on-year?

Rank Prefecture March 2022
Average Listing Price
in JPY
March 2022
% Price Change
v. March 2021
1 Yamagata 16,680,000 -6.1%
2 Yamanashi 16,090,000 -5.1%
3 Ehime 15,480,000 -4.9%
4 Tottori 17,240,000 -4.1%
5 Tokushima 13,030,000 -4.0%
6 Gunma 16,100,000 -3.7%
7 Yamaguchi 14,020,000 -3.3%
8 Toyama 15,940,000 -3.2%
9 Shimane 18,430,000 -2.5%
10 Akita 14,640,000 -0.4%

2022 Ranking

AVERAGE LISTING PRICE OF AN APARTMENT IN JAPAN BY PREFECTURE

In the table below, we rank the average price of a 70-sqm (753-sqft) re-sale apartment in Japan by prefecture, based on actual listing prices as of March 2022 and show percentage change versus the average listing price in February 2022 and year-on-year.

The last column shows the price difference in each prefecture as a percentage of the Tokyo average, which is the highest in Japan, at ¥62,510,000 ($480,846 USD)

The prefectures surrounding Tokyo (Kanagawa, Saitama, and Chiba), often considered a part of the greater Tokyo region have average prices that are between 44% and 61% of the Tokyo average, with Kanagawa having the highest average listing prices of the three surrounding prefectures and Chiba the lowest.

Kanagawa and Okinawa, ranked 2nd and 3rd, are about 45% less expensive than Tokyo. Tokushima, located on the island of Shikoku, is the least expensive, with an average listing price that is 20.8% of the Tokyo average. Data source: Tokyo Kantei

Prefecture March 2022
Average Listing Price
in JPY
March 2022
Average Listing Price
in USD @
130 JPY = 1 USD
Price Change
v. February 2022
in %
March 2021
Average Listing Price
in JPY
March 2022
% Price Change
v. March 2021
March 2022
Average Listing Price
Compared to Tokyo
1 Tokyo 62,510,000 480,846 0.6% 55,350,000 12.9%
2 Kanagawa 34,520,000 265,538 1.7% 29,790,000 15.9% 55.2%
3 Okinawa 34,300,000 263,846 1.0% 32,690,000 4.9% 54.9%
4 Kyoto 34,190,000 263,000 0.4% 33,160,000 3.1% 54.7%
5 Osaka 30,000,000 230,769 0.8% 27,210,000 10.3% 48.0%
6 Saitama 28,140,000 216,462 2.4% 24,690,000 14.0% 45.0%
7 Shiga 24,920,000 191,692 -0.4% 24,410,000 2.1% 39.9%
8 Nagano 24,700,000 190,000 -2.4% 22,090,000 11.8% 39.5%
9 Chiba 24,140,000 185,692 1.8% 22,130,000 9.1% 38.6%
10 Miyagi 24,020,000 184,769 0.8% 21,550,000 11.5% 38.4%
11 Hyogo 23,590,000 181,462 -0.1% 22,300,000 5.8% 37.7%
12 Aichi 23,170,000 178,231 0.2% 21,370,000 8.4% 37.1%
13 Okayama 22,680,000 174,462 2.8% 20,150,000 12.6% 36.3%
14 Hiroshima 22,670,000 174,385 3.3% 21,630,000 4.8% 36.3%
15 Kagoshima 22,600,000 173,846 6.3% 19,330,000 16.9% 36.2%
16 Fukuoka 21,850,000 168,077 0.8% 20,950,000 4.3% 35.0%
17 Nagasaki 20,440,000 157,231 3.6% 19,010,000 7.5% 32.7%
18 Kochi 20,390,000 156,846 2.0% 17,690,000 15.3% 32.6%
19 Hokkaido 20,010,000 153,923 2.4% 17,780,000 12.5% 32.0%
20 Tochigi 19,510,000 150,077 -0.1% 18,310,000 6.6% 31.2%
21 Ishikawa 19,200,000 147,692 -3.3% 17,870,000 7.4% 30.7%
22 Iwate 18,660,000 143,538 -1.7% 17,670,000 5.6% 29.9%
23 Shimane 18,430,000 141,769 -1.9% 18,900,000 -2.5% 29.5%
24 Kumamoto 18,260,000 140,462 3.6% 17,930,000 1.8% 29.2%
25 Niigata 18,130,000 139,462 1.2% 16,210,000 11.8% 29.0%
26 Ibaraki 18,090,000 139,154 1.8% 16,520,000 9.5% 28.9%
27 Mie 18,000,000 138,462 -0.7% 17,490,000 2.9% 28.8%
28 Miyazaki 17,840,000 137,231 1.3% 16,510,000 8.1% 28.5%
29 Shizuoka 17,820,000 137,077 -1.9% 16,160,000 10.3% 28.5%
30 Aomori 17,550,000 135,000 11.3% 15,800,000 11.1% 28.1%
31 Tottori 17,240,000 132,615 -1.3% 17,970,000 -4.1% 27.6%
32 Oita 17,160,000 132,000 0.5% 15,090,000 13.7% 27.5%
33 Gifu 17,090,000 131,462 -2.6% 14,800,000 15.5% 27.3%
34 Fukushima 17,050,000 131,154 -2.9% 16,610,000 2.6% 27.3%
35 Yamagata 16,680,000 128,308 -0.9% 17,760,000 -6.1% 26.7%
36 Fukui 16,490,000 126,846 3.6% 15,880,000 3.8% 26.4%
37 Gunma 16,100,000 123,846 -2.3% 16,720,000 -3.7% 25.8%
38 Yamanashi 16,090,000 123,769 3.8% 16,960,000 -5.1% 25.7%
39 Toyama 15,940,000 122,615 -8.6% 16,470,000 -3.2% 25.5%
40 Ehime 15,480,000 119,077 -3.7% 16,280,000 -4.9% 24.8%
41 Nara 14,980,000 115,231 2.5% 13,970,000 7.2% 24.0%
42 Akita 14,640,000 112,615 -1.8% 14,700,000 -0.4% 23.4%
43 Wakayama 14,290,000 109,923 -3.0% 12,390,000 15.3% 22.9%
44 Saga 14,110,000 108,538 0.9% 13,540,000 4.2% 22.6%
45 Yamaguchi 14,020,000 107,846 1.4% 14,500,000 -3.3% 22.4%
46 Kagawa 13,250,000 101,923 -0.6% 12,440,000 6.5% 21.2%
47 Tokushima 13,030,000 100,231 -0.4% 13,570,000 -4.0% 20.8%

Sources:

Lead image: Japan, Gifu Prefecture – April, 2019: Streets and traditional Japanese houses in the little town Magome on Nakasendo trail via iStock 1353073047 Credit:Vera Duchovskaja


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