How much does a house cost in Japan? The latest housing price data and analysis in 2024
In recent years, Japanese real estate has attracted global attention due to its relatively stable investment environment and low interest rates. This article will give you a structured analysis of the current housing prices in Japan based on hot topics in the past 10 days, covering price differences in major cities such as Tokyo and Osaka and in remote areas.
1. Housing price data in major cities in Japan (latest in May 2024)
| city | Average apartment price (yen/㎡) | Average price of a single-family house (Japanese yen) | Year-on-year increase or decrease |
|---|---|---|---|
| Tokyo 23 wards | 1,200,000 | 65,000,000 | +5.2% |
| Osaka City | 850,000 | 45,000,000 | +3.8% |
| Fukuoka City | 600,000 | 38,000,000 | +6.1% |
| Sapporo City | 550,000 | 32,000,000 | +2.4% |
2. Correlation analysis of hot topics
1.Effects of Japanese Yen Depreciation:Recently, the Japanese yen exchange rate fell below 158 yen/USD (data in May 2024). The cost of foreign investors purchasing houses has been reduced by about 15%, and the number of inquiries for high-end apartments in Tokyo has surged.
2.Olympic legacy impact:The Osaka Casino Integrated Resort (IR) plan will drive surrounding housing prices, and land prices in the Yumesu area have increased by 34% in two years (according to data from the Ministry of Land, Infrastructure, Transport and Tourism).
3.Rural real estate boom:The "Sukaike Bank" policy launched by the Japanese government promotes the circulation of local real estate. In the abandoned house renovation project in Nachikatsuura Town, Wakayama Prefecture, you can purchase land + house for 100,000 yen.
| Property type | Representative area | Price range (yen) | target group |
|---|---|---|---|
| Urban high-end tower | Tokyo Toranomon Hills | 200 million-1 billion | Multinational executives |
| Hot spring resort villa | Hakone Town | 30 million-100 million | middle class investors |
| Rural ancient houses | Shikoku Mountains | 500,000-5 million | digital nomad |
3. House purchase cost details
Take a 70㎡ apartment in central Tokyo as an example:
| Project | Fee (Japanese yen) | Proportion |
|---|---|---|
| total house price | 84,000,000 | 91.3% |
| agency fee | 2,520,000 | 2.7% |
| registration tax | 500,000 | 0.5% |
| Fixed asset tax (year) | 168,000 | 0.2% |
4. Trend prediction and suggestions
1. Housing prices in central Tokyo are expected to maintain a moderate growth of 4-6% in 2024, mainly affected by the inflow of foreign capital and the radiation effect of the 2025 Osaka Expo.
2. The Bank of Japan may end its negative interest rate policy in the autumn and recommends that home buyers give priority to fixed-rate loans (the current 30-year fixed interest rate is about 1.7%).
3. For investors with limited budgets, you can focus on key "local revitalization" cities such as Kitakyushu, where some areas provide home purchase subsidies of up to 3 million yen.
(Note: The data in this article are compiled from the latest statistics in May 2024 from the Ministry of Land, Infrastructure, Transport and Tourism, the Real Estate Economic Research Institute and major real estate platforms)
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