Japan - House Price Index

Japan: House Price Index

Mnemonic HPI.IJPN
Unit Index 2010=100, SA
Adjustments Seasonally Adjusted
Monthly 0.79 %
Data Oct 2022 133.8
Sep 2022 132.75

Series Information

Source Ministry of Land, Infrastructure and Transport of Japan (MLIT)
Release Property Price Index and Property Transaction Volume
Frequency Monthly
Start Date 4/30/2008
End Date 10/31/2022

Japan: Real Estate

Reference Last Previous Units Frequency
House Price Index Oct 2022 133.8 132.75 Index 2010=100, SA Monthly
Dwelling Stocks 2013 60,631 Ths. # Annual

Release Information

For Japan, a "Japan Property Price Index and Property Transaction Volume" (JRPPI and JCPPI) is reported by the Ministry of Land, Infrastructure and Transport (MLIT); for residential and commercial typologies; with transaction count and price index; at monthly, quarterly, and annual frequencies; for the national, regional, prefectural, and metropolitan geo levels.

  • Measurements:
    • Unitary count (#)
    • Fixed-base value indexes relative to 2010 (Index 2010=100)
  • Adjustments:
    • Seasonally adjusted (NSA)
    • Not seasonally adjusted (NSA)
  • Native frequencies: Monthly, quarterly, annual
  • Start dates: 2008m1, 2008Q2, 1984
  • Geo coverage:
    • Country
    • All nine regions
    • Three prefectures
    • Three major metro areas ("TMA")
  • Do all concept-geo pairs exist: No

Residential Property Price Index (JRPPI)

Methodology and reports are based on recommendations made by a coordinated team consisting of the International Monetary Fund and G20 countries. The set of standards is found in the "Handbook on Residential Property Price Indices".

Property types:

  • Residential: built solely for residential purposes, with no portion of the housing used for business purposes such as stores, offices, and work rooms.
  • Detached housing: one building with one residence. The structure sits entirely in the lot without sharing any walls with an adjacent structure.
  • Condominiums: dwelling unit can be a single apartment or unit in a multifamily residence.

Data is based on the actual transaction data of residential property through questionnaires. Transacations are between private bodies only. Transactions between public bodies are excluded. Temporal market change rates of residential properites are extracted using the hedonic regression method to adjust the quality variation of individual properties.

Commercial Property Price Index (JCPPI)

Commercial property price indices are broken down by land structures and type of land. Land structures include: retail, office, warehouse, factory, and apartment. Type of lands are: commercial and industrial.

Data is obtained through transaction price by questionaires and through real estate interests in trust disclosed by J-REIT funds. Indices are calculated using the hedonic approach (time dummy variable method).


Prefectural components of regions:

  • Hokkaido: Hokkaido
  • Tohoku: Aomori, Iwate, Miyagi, Akita, Yamagata, Fukushima, Niigata
  • Kanto: Ibaraki, Tochigi, Gunma, Saitama, Chiba, Tokyo, Kanagawa, Yamanishi
  • Hokuriku: Toyama, Ishikawa, Fukui
  • Chubu: Nagano, Shizuoka, Gifu, Aichi, Mie
  • Kinki: Shiga, Kyoto, Osaka, Hyogo, Nara, Wakayama
  • Chugoku: Tottori, Shimane, Okayama, Hiroshima, Yamaguchi
  • Shikoku: Tokushima, Kagawa, Ehime, Kochi
  • Kyushu-Okinawa: Fukuoka, Saga, Nagasaki, Kumamoto, Oita, Miyazaki, Kagoshima, Okinawa

Prefectural components of metro areas:

  • Tokyo including suburbs: Saitama, Chubu, Tokyo, Kanagawa
  • Nagoya including suburbs: Gifu, Aichi, Mie
  • Osaka including suburbs: Kyoto, Osaka, Hyogo

Further reading

At the source:

International standard: