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:
- Tokyo Kantei April 2022 Re-Sale Manshon Price Weather Map (PDF in Japanese)
- Tokyo Kantei April 2021 Re-Sale Manshon Price Weather Map (PDF in Japanese)
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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