Shinagawa, Tokyo — Residential Cap Rates & Price per Sqm
18 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
18
Median deal cap rate (all time)
3.70%
Deal cap rate range (last 3 years)
3.10–3.50%
Avg. price (all time)
¥1.71bn
Properties appraised
63
Median appraisal cap rate
3.50%
Appraisal cap rate range
3.0–4.7%
Period ends
2025/10–2026/07
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
1 transactions were disclosed in the last 12 months. The all-time median cap rate across 15 deals is 3.70%.
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.
All transactions (19)(1 scheduled, excluded from statistics)
| Source | |||||
|---|---|---|---|---|---|
| 2026.12Scheduled | Good Time Home Fudomae | ¥2.19bn | 4.00% | 1992 · 34 yrs | REIT-IR ↗ |
| 2026.06 | Regentia Musashi-koyama | ¥0.69bn | 3.40% | 2019 · 7 yrs | REIT-IR ↗ |
| 2025.09 | Comforia Togoshi Park | ¥1.95bn | 3.50% | 2025 · 1 yrs | REIT-IR ↗ |
| 2025.05 | Urbanex Togoshi Ginza | ¥2.70bn | 3.10% | 2006 · 20 yrs | REIT-IR ↗ |
| 2025.04 | Comforia Higashi Ooi I | ¥1.68bn | — | 2024 · 2 yrs | REIT-IR ↗ |
| 2025.04 | Comforia Higashi Ooi II | ¥2.09bn | — | 2024 · 2 yrs | REIT-IR ↗ |
| 2023.06 | S-FORT Omori Sanno | ¥0.36bn | 3.60% | 2016 · 10 yrs | REIT-IR ↗ |
| 2023.04 | Cross Residence Osaki | ¥2.24bn | — | 2020 · 6 yrs | REIT-IR ↗ |
| 2023.03 | Rock Field Nishi Ooi | ¥0.54bn | 3.30% | 2009 · 17 yrs | REIT-IR ↗ |
| 2022.11 | Comforia Nishi Ooi | ¥1.25bn | 3.70% | — | 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)
Shinagawa · Residential: 63 properties · period ends 2025/10–2026/07 · median 3.50% (3.0%–4.7%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| Comforia FudomaeComforia Residential REIT, Inc. | 3.2% | ±0 | 2026/07 | Filing ↗ |
| レジディア御殿山Advance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア大井町IIAdvance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア大森IIAdvance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア中延IIAdvance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア島津山Advance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア南品川Advance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア南品川IIAdvance Residence Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| レジディア品川Advance Residence Investment Corporation | 3.3% | +10 | 2026/07 | Filing ↗ |
| コンフォリア大森鹿島Comforia Residential REIT, Inc. | 3.4% | ±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 Shinagawa · Residential as a list →
FAQ
What is the average Residential cap rate in Shinagawa, Tokyo?
The median cap rate across 15 J-REIT disclosed transactions (all time) is 3.70% (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.