On January 21st, Kenbiya released their Annual Report on the Income Property Market Trends for 2024.
Kenbiya is a Japan based property portal focusing on advertising residential real estate meant for income-generation. Their data comes from agents who pay to list on the website and the properties they upload.
This report compiles and summarizes the annual market trends for residential properties of the following types:
Strata-title condominiums
Wood-frame (WF) whole buildings
Reinforced concrete (RC) whole buildings
All figures presented are nationwide averages and do not guarantee in any way pricing or yield.
All yields presented are average gross yields.
Real estate is a hyper-local venture so always consult with a licensed realtor for your property specific needs.
Chart courtesy of Kenbiya, translated by Patience Realty.
The average gross yield for strata-title condos in 2024 was 6.76%, a decrease of 0.26 percentage points from the previous year, marking the fourth consecutive year of decline.
Average condo prices rose by 18.99% to ¥20.68 million, achieving double-digit growth for the second consecutive year.
The average gross yield for WF whole buildings increased by 0.09 percentage points to 8.19%, the first rise in five years.
Average WF whole buildings prices fell by 1.26% to ¥77.87 million.
The nationwide average yield for RC whole buildings increased by 0.03 percentage points to 7.74%, also marking the first rise in five years.
The RC whole building average price rose by 4.82% to ¥179.35 million, continuing a five-year upward trend.
Further Reading:
Kenbiya Annual Report on the Income Property Market Trends for 2024 (Japanese only; offers more granular analysis than nationwide averages outlined above)
Source:
R.E. Port News (Japanese only)
