How much does it cost to buy a new house in Tokyo?

Amid tight supply, the average list price of a newly constructed house for sale in the Tokyo 23 wards leaped 8.5% year-on-year last month. This is according to a recent report by Tokyo Kantei (in Japanese).

Below we summarize the results of the data for newly constructed houses released for sale in January in the greater Tokyo capital region.

How much does it cost to buy a new house in Tokyo?

In January 2018, the average list price of a newly constructed house in the Tokyo 23 wards was ¥64,870,000 ($603,000).

There was a sharp drop in the number of properties (73) listed for sale last month, a year-on-year decline of 35.4%. In contrast, in November 2017 and December 2017, 120 and 113 units, respectively came online.

What is the average price per square meter of a new house in Tokyo?

The average price per square meter of a newly constructed house in the Tokyo 23 wards was ¥664,652 ($6,168). This was a year-on-year increase of 12.2%.

How big is the average house in Tokyo?

The average floorspace of a newly constructed house in the Tokyo 23 wards is 97.6-sqm (1,051-square feet).

How much less expensive is a house in the Tokyo suburbs?

Tokyo’s western suburbs, which include cities like Machida, Hachioji, and Fuchu are very popular with couples and families buying single-family homes that are a little more spacious and closer to nature. They also offer the convenience of a doable commute to Shinjuku and Tokyo’s western train hubs, without city-center prices.

The average price of a newly constructed house in the western suburbs of Tokyo is ¥42,380,000 ($394,000). This is 65.3% of the price of a new home in the 23 wards of Tokyo.

How do Tokyo home prices compare to Osaka?

In January 2018, the average price of a newly constructed house in Osaka was ¥26,710,000 ($248,00). This is 41.2% of the average price of a new home in the 23 wards of Tokyo.

Show me the data

Please see the charts below for details on the Tokyo 23 wards and other major cities.

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