Tokyo Kantei has released the August 2024 Japan single family home (SFH) data, providing a detailed analysis of price trends for both existing (second hand) and new wooden single-family homes (SFH) across major urban areas.
The report covers properties between 100 and 300 square meters, located within a 30-minute walk or 20-minute bus ride from the nearest station.
All percentages below refer to Month-on-Month changes, or percentage change from the previous month.
Price Trends for Existing Wood-Frame SFH in August 2024
In the Greater Tokyo Area (GTA), the average price for existing wood-frame SFH rose by 7.2%, reaching ¥39.75 million.
Broken down by prefecture:
Tokyo recorded a 2.4% increase to ¥62.07 million.
Kanagawa saw a 1.9% rise to ¥41.49 million.
Chiba led with an 8.9% increase to ¥28.76 million.
Saitama continued its upward trend, posting an 8.5% rise to ¥29.37 million.
In the Kinki region, the average price increased by 0.7%, reaching ¥28.46 million.
Broken down by prefecture:
Osaka experienced a 4.4% drop to ¥31.54 million.
Hyogo recorded a slight decline to ¥28.20 million.
Kyoto saw prices rise by 2.7% to ¥34.01 million.
The Chubu region posted a 5.9% increase to ¥25.89 million, while Aichi prefecture experienced a 1.2% rise, with prices reaching ¥31.07 million.
Zooming out, the historical data shows a sideways chop in average prices over the last couple of years.
Average existing SFH price historical chart courtesy of Tokyo Kantei, edited by Patience Realty.
Price Trends for New Wood-Frame SFH in August 2024
Turning to the brand new wood-frame SFH market in August 2024, the GTA saw the average price decline by 1.5%, falling to ¥46.11 million.
GTA broken down by prefecture:
Tokyo dropped 2.3%, bringing prices to ¥56.83 million.
Kanagawa posted a slight increase of 0.1%, reaching ¥48.96 million.
Chiba recorded a 3.0% rise to ¥38.40 million.
Saitama saw a 4.7% drop to ¥37.71 million.
In the Kinki region, the average price rose by 0.8%, reaching ¥37.42 million.
By prefecture:
Osaka reported a 2.6% increase to ¥39.71 million.
Hyogo saw prices rise by 4.8% to ¥38.98 million.
Kyoto experienced a decline of 4.9%, with prices falling to ¥41.93 million.
In the Chubu region the average price fell by 2.8% to ¥33.95 million and Aichi prefecture saw a 1.4% drop, bringing prices to ¥36.41 million.
Fukuoka saw a 2.2% increase, bringing prices to ¥37.37 million.
Zooming out again, the brand new SFH historical data shows similar sideways chop as the existing data did above.
Average brand new SFH price historical chart courtesy of Tokyo Kantei, edited by Patience Realty.
Further Reading:
August 2024 Japan wide EXISTING SFH average price report (Tokyo Kantei; Japanese only)
August 2024 Japan wide BRAND NEW SFH average price report (Tokyo Kantei; Japanese only)
Sources:
R.E. Port News EXISTING SFH article (Japanese only)
R.E. Port News BRAND NEW SFH article (Japanese only)
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