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Real estate in Japan - statistics & facts

Japan is a country with only very limited space for buildings, as mountains make up about three quarters of the land. In addition to this, the country has a fairly large population, which leads to a high population density, especially in the cities. Average land prices have been growing again after reaching a low point in 2012. Prices continue to be highest in the capital city of Tokyo, which is the economic center of Japan. The prefectures Tokyo, Saitama, Chiba, and Kanagawa form the Greater Tokyo Area, which is one of the most populous metropolitan areas worldwide and a popular destination for domestic and international workers. Other major hubs include the metropolitan areas centering around Osaka and Nagoya. While the major urban areas still enjoy a stable population despite the country’s demographic changes, more regional areas have to cope with depopulation tendencies.

The real estate market can be divided into residential and commercial properties. When it comes to residential properties, the number of condominiums sold remained stable in recent years and amounted to around 80 thousand units in 2018. Next to domestic customers, the demand is partly driven by foreign investors. Except for some historically protected locations, Japan has no restrictions on foreign real estate property ownership, making it an attractive market for investors from other countries. At the same time, the home rental rate among Japanese households has decreased in the last decade, indicating that more and more people are buying homes instead of renting. Leading businesses in the real estate market include companies such as Nihon Housing, Tokyu Community, and Daikyo Astage, while leading housing developers include companies such as Sumitomo Realty & Development, Pressance Corporation, and Nomura Real Estate Development.

When it comes to commercial properties, the major metropolitan areas have shown an increase in land prices, while in many rural areas, prices are decreasing. While Japan’s burgeoning tourism industry and low interest rates led to increased hotel and office building numbers throughout the country, more than half of all office space in Japan was located in the Tokyo Metropolitan Area. The central business district in Tokyo is made up of the five wards Chiyoda, Chuo, Minato, Shibuya, and Shinjuku. Vacant office space in Tokyo's central business district has decreased considerably in recent years, while the average monthly office rent increased.

Interesting statistics

In the following 6 chapters, you will quickly find the 28 most important statistics relating to "Real estate in Japan".

Real estate in Japan

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!

Important key figures

The most important key figures provide you with a compact summary of the topic of "Real estate in Japan" and take you straight to the corresponding statistics.

Residential property

Commercial property

Tokyo real estate

Tokyo office space


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