Sapporo, Hokkaido — Residential Cap Rates & Price per Sqm
34 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
34
Median deal cap rate (all time)
4.80%
Deal cap rate range (last 3 years)
4.30–4.80%
Avg. price (all time)
¥0.84bn
Properties appraised
63
Median appraisal cap rate
4.30%
Appraisal cap rate range
3.7–4.8%
Period ends
2026/02–2026/07
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
2 transactions were disclosed in the last 12 months. The all-time median cap rate across 31 deals is 4.80%.
Transaction cap rate trend (each deal + quarterly median)
Last 5 years. Grey dots are individual deals; the red line is the quarterly median. The segment into the quarter in progress (deals so far) is dashed. Use the number of dots to spot quarters with few deals. Calculated from cap rates disclosed in acquisition/disposition notices (appraisal NOI yield at the time of each deal). These differ from periodic appraisals (current valuations), shown separately below. See the table below for individual sources.
Breakdown by ward
| Ward | Transactions | Cap rate |
|---|---|---|
| Chuo, Sapporo | 15 | 4.70% |
| Toyohira, Sapporo | 5 | 4.70% |
| Nishi, Sapporo | 5 | 4.80% |
| Kita, Sapporo | 3 | 4.55% |
| Kiyota, Sapporo | 3 | 5.10% |
| Higashi, Sapporo | 2 | 4.90% |
All transactions (34)
| Ward | Source | |||||
|---|---|---|---|---|---|---|
| 2026.09 | Tsukui Sunforest Sapporo Yamahana | Chuo | ¥0.62bn | 4.30% | 2018 · 8 yrs | REIT-IR ↗ |
| 2026.09 | Sunny Life Shin-Kotoni | Kita | ¥1.56bn | 4.80% | 2023 · 3 yrs | REIT-IR ↗ |
| 2025.04 | Silver Heights Hitsujigaoka 3-bankan | — | ¥1.46bn | 4.60% | — | REIT-IR ↗ |
| 2024.12 | KDX Residence Toyohira Park | Toyohira | ¥0.65bn | 4.30% | 2007 · 19 yrs | REIT-IR ↗ |
| 2024.02 | Noah Garden Bloom View | Nishi | ¥0.74bn | 4.80% | 2013 · 12 yrs | REIT-IR ↗ |
| 2024.02 | Noah Garden Annex | Nishi | ¥0.30bn | 4.80% | 2011 · 15 yrs | REIT-IR ↗ |
| 2024.02 | Noah Garden Building B | Nishi | ¥0.28bn | 4.80% | 1999 · 27 yrs | REIT-IR ↗ |
| 2024.02 | Noah Garden Building A | Nishi | ¥0.38bn | 4.80% | 1995 · 31 yrs | REIT-IR ↗ |
| 2023.11 | S-RESIDENCE Nishi-machi | Nishi | ¥0.94bn | 4.50% | 2023 · 3 yrs | REIT-IR ↗ |
| 2023.09 | Alpha Square Minami 6 Jo | Chuo | ¥1.61bn | — | 2019 · 7 yrs | REIT-IR ↗ |
Periodic appraisals (current valuations)
Each property’s latest period-end appraisal. Aligned in time, so current levels can be compared
Periodic appraisals (period-end valuations)
Sapporo · Residential: 63 properties · period ends 2026/02–2026/07 · median 4.30% (3.7%–4.8%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| コンフォリア札幌植物園Comforia Residential REIT, Inc. | 3.9% | ±0 | 2026/07 | Filing ↗ |
| レジディア南一条イーストAdvance Residence Investment Corporation | 3.9% | ±0 | 2026/07 | Filing ↗ |
| レジディア大通公園Advance Residence Investment Corporation | 4.0% | ±0 | 2026/07 | Filing ↗ |
| S-FORT北大前Samty Residential Investment Corporation | 4.1% | ±0 | 2026/07 | Filing ↗ |
| コンフォリア北三条Comforia Residential REIT, Inc. | 4.2% | ±0 | 2026/07 | Filing ↗ |
| S-FORT北円山Samty Residential Investment Corporation | 4.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア札幌駅ノースAdvance Residence Investment Corporation | 4.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア札幌駅前Advance Residence Investment Corporation | 4.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア大通西Advance Residence Investment Corporation | 4.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア南一条Advance Residence Investment Corporation | 4.3% | ±0 | 2026/07 | Filing ↗ |
Direct capitalization rates from each property’s latest period-end appraisal, for properties of the same use in the same city/ward (period ends within the last year; from J-REIT annual securities reports and results materials). These differ from acquisition cap rates (chart and deal list above) and compare current valuations regardless of deal timing. Values for the same property can differ by appraiser or ownership share. Reference information only, not a recommendation.
See appraisals in Sapporo · Residential as a list →
FAQ
What is the average Residential cap rate in Sapporo, Hokkaido?
The median cap rate across 31 J-REIT disclosed transactions (all time) is 4.80% (as of November 1, 2026, appraisal NOI yield basis).
What is the data source?
Timely-disclosure PDFs published on each J-REIT official IR page. Every record links to its source.