Average house price at $395,000 in Japan

By Ahmet Furkan Mercan

The average house price in Japan increased by 15.4% in 2023 on a yearly basis to 59.1 million yen ($395,000).

The Real Estate Economic Institute announced that the average of housing prices across Japan has continued to rise for the last seven years.

The average house price in the Greater Tokyo region, which includes Tokyo and the surrounding areas of Saitama, Chiba, and Kanagawa, increased by 28.8% to 81 million yen ($540,000).

The rise in housing prices may continue this year due to increasing construction, labor, and input costs, and the depreciation of the Japanese yen.

*Writing by Gokhan Ergocun in Istanbul