Japan House Prices, Rents & Rental Yields (2026)
How much property costs in Japan, what it rents for and how that compares with neighbouring markets in Eastern Asia. City-centre prices per m² rank 4 of 5 in this comparison; gross yields rank 2 of 5.
- Apartment price per m² (city centre)
- $8,216
- 2023
- Apartment price per m² (outside centre)
- $4,923
- 2023
- Gross rental yield (city centre)
- 2.4%
- 2024
- Price-to-income ratio
- 10
- 2024
- Rent: 1-bedroom, city centre
- $775/mo
- 2023
- Mortgage interest rate (20-year fixed)
- 1.8%
- 2023
Price and rent trends in Japan
Latest property market indicators
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres | $8,216 | 2023 | +3.0% vs 2022 | Numbeo |
| Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres | $4,923 | 2023 | +26.8% vs 2022 | Numbeo |
| Price-to-income ratioMedian apartment price divided by median annual disposable family income | 10 | 2024 | -2.9% vs 2023 | Numbeo |
| Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments | 2.4% | 2024 | -0.1 pp vs 2023 | Numbeo |
| Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments | 41 | 2024 | +0.7% vs 2023 | Numbeo |
| Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre | $775/mo | 2023 | ±0% vs 2022 | Numbeo |
| Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre | $495/mo | 2023 | +2.5% vs 2022 | Numbeo |
| Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre | $2,218/mo | 2023 | +31.8% vs 2022 | Numbeo |
| Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre | $951/mo | 2023 | -7.2% vs 2022 | Numbeo |
| Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed | 1.8% | 2023 | +0.3 pp vs 2022 | Numbeo |
| Home ownership rateShare of owner-occupied dwellings | 61.2% | 2024 | ±0.0 pp vs 2018 | Trading Economics |
Year-by-year data
| Year | Apartment price per m² (city centre) | Apartment price per m² (outside centre) | Price-to-income ratio | Gross rental yield (city centre) | Price-to-rent ratio (city centre) | Rent: 1-bedroom, city centre | Rent: 1-bedroom, outside centre | Rent: 3-bedroom, city centre | Rent: 3-bedroom, outside centre | Mortgage interest rate (20-year fixed) | Home ownership rate |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | — | — | 10 | 2.4% | 41 | — | — | — | — | — | 61.2% |
| 2023 | $8,216 | $4,923 | 10.3 | 2.5% | 40.7 | $775/mo | $495/mo | $2,218/mo | $951/mo | 1.8% | — |
| 2022 | $7,975 | $3,883 | 11 | 2.3% | 42.8 | $775/mo | $483/mo | $1,683/mo | $1,024/mo | 1.5% | — |
| 2021 | $8,636 | $4,945 | 13 | 2.2% | 45.6 | $1,034/mo | $619/mo | $2,136/mo | $1,343/mo | 1.2% | — |
| 2020 | $9,057 | $4,971 | 13 | 2.1% | 47.4 | $882/mo | $556/mo | $2,164/mo | $1,323/mo | 1.4% | — |
| 2019 | $9,656 | $5,729 | 11.2 | 2.5% | 40.3 | $935/mo | $609/mo | $2,062/mo | $1,123/mo | 1.5% | — |
| 2018 | $9,319 | $4,262 | 12.6 | 2.0% | 49.3 | $911/mo | $583/mo | $2,147/mo | $1,137/mo | 1.5% | 61.2% |
| 2017 | $7,995 | $4,296 | 12.7 | 2.2% | 45.2 | $951/mo | $593/mo | $2,026/mo | $1,080/mo | 1.1% | — |
Japan compared with Eastern Asia
| Country | Apartment price per m² (city centre) | Gross rental yield (city centre) | Price-to-income ratio | Mortgage interest rate (20-year fixed) |
|---|---|---|---|---|
| Japan | $8,216 | 2.4% | 10 | 1.8% |
| China | $9,067 | 1.7% | 29.6 | 4.4% |
| Hong Kong | $28,437 | 1.6% | — | 3.8% |
| Mongolia | $1,483 | 7.2% | 15.7 | 6.5% |
| South Korea | $11,970 | 1.2% | 19.9 | 4.8% |
Related
- Properties for sale in Japan (8,491)
- Mortgages in Japan for foreigners
- Japan market overview
- Tax rates in Japan
Prices, rents, yields and mortgage rates: Numbeo (crowd-sourced, national averages of city data). Values in US dollars.