Japan Cap Rates & Price per Sqm by City

Last updated: 2026.09.20 (refreshed weekly)

Area-level market data based on J-REIT disclosed transactions. Areas with at least 5 transactions, including 3+ in the last 5 years, are listed (99 areas, updated weekly).

Tokyo43 areas

Minato × Office74CR 3.10%Chiyoda × Office53CR 3.50%Chuo × Office49CR 3.70%Ota × Residential31CR 3.50%Koto × Residential30CR 3.30%Sumida × Residential29CR 3.50%Itabashi × Residential24CR 3.20%Taito × Residential23CR 3.40%Shinjuku × Office23CR 3.40%Setagaya × Residential21CR 3.45%Shinagawa × Office20CR 3.70%Shinagawa × Residential18CR 3.70%Edogawa × Residential17CR 3.60%Shinjuku × Residential15CR 3.60%Koto × Office13CR 4.10%Shibuya × Office13CR 3.20%Suginami × Residential13CR 4.10%Taito × Office13CR 3.65%Chuo × Residential13CR 3.40%Meguro × Residential13CR 3.50%Kita × Residential12CR 3.65%Minato × Retail11CR 3.10%Arakawa × Residential10CR 3.60%Adachi × Residential10CR 3.80%Nakano × Residential10CR 3.50%Shibuya × Land9CR 3.60%Nerima × Residential9CR 4.10%Bunkyo × Residential9CR 3.50%Taito × Hotel9CR 3.70%Chuo × Hotel8CR 3.70%Shibuya × Retail8CR 3.45%Toshima × Residential8CR 3.80%Toshima × Office7CR 4.20%Hachioji × Residential7CR 4.00%Shinjuku × Hotel7CR 3.65%Minato × Residential7CR 3.60%Nakano × Office7CR 3.70%Minato × Hotel6CR 3.80%Bunkyo × Office6CR 4.05%Hachioji × Retail5CR 4.30%Tachikawa × Office5CR 4.20%Chiyoda × Residential5CR 3.80%Shibuya × Residential5CR 3.60%

Osaka10 areas

Osaka × Residential70CR 3.70%Osaka × Office44CR 3.40%Osaka × Hotel17CR 3.70%Osaka × Retail15CR 5.00%Osaka × Logistics12CR 4.15%Suita × Residential10CR 4.00%Sakai × Residential7CR 4.40%Sakai × Retail7CR 4.65%Ibaraki × Logistics5CR 4.00%Osaka × Land4CR 3.65%

Kanagawa8 areas

Yokohama × Residential40CR 3.70%Kawasaki × Residential25CR 3.70%Yokohama × Office9CR 3.60%Yokohama × Retail8CR 4.50%Kawasaki × Office8CR 4.55%Yokohama × Land7CR 3.50%Kawasaki × Retail6CR 4.15%Yokohama × Logistics4CR 3.70%

Chiba8 areas

Funabashi × Residential15CR 3.90%Ichikawa × Residential10CR 3.95%Funabashi × Logistics9CR 3.80%Inzai × Logistics9CR 4.45%Nagareyama × Logistics7CR 4.10%Chiba × Office5CR 4.30%Chiba × Residential5CR 4.50%Matsudo × Residential5CR 4.05%

Hyogo6 areas

Kobe × Logistics15CR 4.50%Kobe × Residential8CR 4.55%Kobe × Land6CR 3.90%Nishinomiya × Residential6CR 4.40%Kobe × Retail5CR 3.80%Amagasaki × Logistics5CR 4.00%

Aichi4 areas

Nagoya × Residential88CR 4.30%Nagoya × Office20CR 3.70%Nagoya × Logistics5CR 4.30%Nagoya × Hotel5CR 4.10%

Fukuoka4 areas

Fukuoka × Residential28CR 4.40%Fukuoka × Office20CR 3.80%Fukuoka × Hotel15CR 4.05%Fukuoka × Retail5CR 3.90%

Saitama4 areas

Kawaguchi × Residential12CR 4.05%Saitama × Residential7CR 3.80%Kawagoe × Logistics7CR 4.30%Kazo × Logistics6CR 4.10%

Hokkaido3 areas

Sapporo × Residential34CR 4.80%Sapporo × Office13CR 3.60%Sapporo × Hotel9CR 4.30%

Miyagi2 areas

Sendai × Residential18CR 3.80%Sendai × Office8CR 4.15%

Kyoto2 areas

Kyoto × Residential14CR 4.10%Kyoto × Hotel9CR 3.80%

Kagoshima1 areas

Kagoshima × Residential9CR 4.90%

Okinawa1 areas

Naha × Hotel8CR 4.90%

Kumamoto1 areas

Kumamoto × Residential8CR 4.90%

Hiroshima1 areas

Hiroshima × Office6CR 4.55%

Niigata1 areas

Niigata × Residential5CR 4.90%