Average size of housing units in Japan 1973-2018

In 2018, the average size per dwelling in Japan was approximately 93 square meters. When broken down by prefecture, Toyama stood out as the prefecture with the largest average floor area per housing unit, while Tokyo had the smallest average floor area in the same year.

Real estate in Japan

The real estate industry is an important pillar of the Japanese economy and ranked as the third-largest industry in Japan in terms of value added in 2022. Despite this, the number of unoccupied dwellings in Japan has been steadily increasing for over thirty years. Many unoccupied homes are empty and abandoned. This trend can be attributed to two primary factors: the aging of the population and the challenges faced by empty house owners in managing and utilizing properties, as most of these homes are either managed by older individuals or family inheritance.

Housing in Tokyo

The monthly residential property price index in Tokyo Prefecture has experienced a significant upward trend in the past years. Tokyo holds the largest population in Japan, with approximately 14 million inhabitants, making it the world’s largest urban agglomeration. The city’s appeal lies in its many renowned universities and corporate headquarters, which draws migrants from other prefectures, particularly young individuals. However, Japan is currently experiencing an investment boom in real estate, fueled by overseas investment. This has resulted in central Tokyo apartments becoming less affordable for many people.