Japan Cap Rates & Price per Sqm by City

Last updated: 2026.11.01 (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 (98 areas, updated weekly).

Tokyo42 areas

Minato × Office76Cap rate 3.20%Chiyoda × Office57Cap rate 3.50%Chuo × Office49Cap rate 3.70%Ota × Residential32Cap rate 3.55%Koto × Residential30Cap rate 3.30%Sumida × Residential29Cap rate 3.50%Itabashi × Residential24Cap rate 3.20%Setagaya × Residential23Cap rate 3.50%Taito × Residential23Cap rate 3.40%Shinjuku × Office23Cap rate 3.40%Shinagawa × Office21Cap rate 3.60%Shinagawa × Residential18Cap rate 3.70%Edogawa × Residential18Cap rate 3.60%Koto × Office15Cap rate 3.80%Shibuya × Office15Cap rate 3.25%Shinjuku × Residential15Cap rate 3.65%Taito × Office14Cap rate 3.60%Suginami × Residential13Cap rate 4.10%Chuo × Residential13Cap rate 3.40%Meguro × Residential13Cap rate 3.50%Kita × Residential12Cap rate 3.65%Nakano × Residential11Cap rate 3.50%Minato × Retail11Cap rate 3.10%Nerima × Residential10Cap rate 3.90%Arakawa × Residential10Cap rate 3.60%Adachi × Residential10Cap rate 3.80%Shibuya × Retail9Cap rate 3.40%Bunkyo × Residential9Cap rate 3.50%Taito × Hotel9Cap rate 3.70%Shibuya × Land8 Minato × Residential8Cap rate 3.40%Chuo × Hotel8Cap rate 3.70%Toshima × Residential8Cap rate 3.80%Hachioji × Residential7Cap rate 4.00%Toshima × Office7Cap rate 4.20%Shinjuku × Hotel7Cap rate 3.65%Bunkyo × Office7Cap rate 4.00%Nakano × Office7Cap rate 3.70%Minato × Hotel6Cap rate 3.80%Hachioji × Retail5Cap rate 4.30%Chiyoda × Residential5Cap rate 3.80%Shibuya × Residential5Cap rate 3.60%

Osaka10 areas

Osaka × Residential74Cap rate 3.80%Osaka × Office44Cap rate 3.40%Osaka × Hotel17Cap rate 3.70%Osaka × Retail16Cap rate 4.00%Osaka × Logistics12Cap rate 4.15%Suita × Residential10Cap rate 4.00%Sakai × Residential7Cap rate 4.40%Sakai × Retail7Cap rate 4.65%Ibaraki × Logistics5Cap rate 4.00%Osaka × Land4Cap rate 3.65%

Kanagawa8 areas

Yokohama × Residential40Cap rate 3.70%Kawasaki × Residential26Cap rate 3.70%Yokohama × Office11Cap rate 3.90%Yokohama × Retail8Cap rate 4.50%Yokohama × Land8Cap rate 3.50%Kawasaki × Office8Cap rate 4.55%Kawasaki × Retail6Cap rate 4.15%Yokohama × Logistics4Cap rate 3.70%

Chiba8 areas

Funabashi × Residential15Cap rate 3.90%Ichikawa × Residential10Cap rate 3.95%Inzai × Logistics9Cap rate 4.45%Funabashi × Logistics8Cap rate 3.80%Nagareyama × Logistics7Cap rate 4.10%Chiba × Office5Cap rate 4.30%Chiba × Residential5Cap rate 4.50%Matsudo × Residential5Cap rate 4.05%

Hyogo6 areas

Kobe × Logistics15Cap rate 4.50%Kobe × Residential8Cap rate 4.55%Kobe × Land7Cap rate 3.90%Nishinomiya × Residential7Cap rate 4.20%Kobe × Retail5Cap rate 3.80%Amagasaki × Logistics5Cap rate 4.00%

Aichi4 areas

Nagoya × Residential89Cap rate 4.00%Nagoya × Office21Cap rate 3.70%Nagoya × Logistics6Cap rate 4.40%Nagoya × Hotel5Cap rate 4.10%

Saitama4 areas

Kawaguchi × Residential12Cap rate 4.05%Saitama × Residential7Cap rate 3.80%Kawagoe × Logistics7Cap rate 4.30%Kazo × Logistics6Cap rate 4.10%

Hokkaido3 areas

Sapporo × Residential34Cap rate 4.80%Sapporo × Office13Cap rate 3.60%Sapporo × Hotel9Cap rate 4.30%

Fukuoka3 areas

Fukuoka × Residential28Cap rate 4.40%Fukuoka × Office21Cap rate 4.00%Fukuoka × Hotel15Cap rate 4.05%

Miyagi2 areas

Sendai × Residential18Cap rate 3.80%Sendai × Office8Cap rate 4.15%

Kyoto2 areas

Kyoto × Residential14Cap rate 4.10%Kyoto × Hotel10Cap rate 3.70%

Hiroshima2 areas

Hiroshima × Office6Cap rate 4.55%Hiroshima × Logistics5Cap rate 4.50%

Okinawa1 areas

Naha × Hotel9Cap rate 4.40%

Kagoshima1 areas

Kagoshima × Residential9Cap rate 4.90%

Kumamoto1 areas

Kumamoto × Residential8Cap rate 4.90%

Niigata1 areas

Niigata × Residential5Cap rate 4.90%