Tokyo Commercial Property Prices

Name: Tokyo Commercial Property Prices
Creator: Ministry of Land, Infrastructure, Transport and Tourism – Property Price Index
License: https://creativecommons.org/licenses/by/4.0/

Source: Ministry of Land, Infrastructure, Transport and Tourism – Property Price IndexLast updated: Sep 24, 2026, 01:09Curated by Bui Thanh PhucAbout this data ↓

Indicator	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984
Tokyo10
Tokyo: Commercial property, total	211.17	199.15	183.56	178.26	162.21	156.7	153.68	147.37	141.63	133.14	121.74	113.8	107.27	100.06	102.22	100	100.49	124.52	135.29	119.16	108.26	93.92	97.05	91.5	94.23	97.23	104	109.87	128.49	136.11	154.15	189.81	238.47	296.11	370.34	400.58	359.1	389.99	378.92	240.73	164.99	134.66
Tokyo: Land with structure, total	220.97	211.93	191.51	187.22	169.76	166.47	162.56	155.18	149.34	139.55	126.66	117.71	110.29	101.52	103.46	100	101.43	125.86	137.47	121.01	108.93	90.24	93.01	84.35	87.88	89.14	97.52	102.65	119.72	127.59	141.5	181.25	251.41	305.46	376.91	356.13	306.1	345.32	320.81	216.08	143.47	124.21
Tokyo: Retail	239.64	226.61	199.89	191.84	192.83	170.45	163.48	165.29	151.48	146.12	136.33	125.42	125.44	101.22	108.25	100	109.2	131.66	148.22	133.81	117.97	93.32	105.77	90.01	90.65	98.95	106.72	111.31	135.76	140.46	158.94	214.04	280.36	336.88	434.09	422.35	420.08	418.62	396.76	271.19	190.15	167.35
Tokyo: Office	260.8	264.86	222.42	225.94	182.03	196.87	194.12	173.09	167.58	152.61	130.94	123.97	112.4	103.66	104.48	100	102.33	134.83	147.47	124.4	107.91	89.02	88.48	81.29	88.65	84.53	93.64	99.63	116.96	130.29	151.81	205.22	324.75	368.82	497.91	481.22	390.65	462.69	426.61	276.7	182.8	154.05
Tokyo: Warehouse	214.44	221.57	218.81	162.58	159.7	154.07	158.08	138.25	122.17	112.9	102.43	112.06	97.74	94.75	93.35	100	105.45	112.67	121.98	102.25	93.92	82.02	74.82	78.97	82.28	82.29	88.59	99.13	92.96	107.12	115.88	80.51	248.15	228.8	133.45	147.93	62.61	128.68	131.85	75.21	49.15	47.91
Tokyo: Factory	177.56	200.55	168.35	159.95	140.06	147.62	129.77	130.33	123.12	119.17	103.49	107.71	98.54	98.09	106.67	100	87.47	128.08	135.1	121.36	119.05	97.2	86.56	100.85	110.83	123.54	122.91	150.13	179.05	179.99	172.14	149.67	125.83	150.57	211.49	286.14	268.5	284.13	221.73	113.17	112.58	86.12
Tokyo: Apartment buildings (whole building)	182.5	171.76	165.68	158.55	147.5	137.94	135.74	136.77	131	124.34	119.48	107.75	101.37	100.55	100.63	100	93.62	108.81	118.87	109.35	101.46	90.38	83.3	81.57	80.76	81.98	82.55	88.35	95.42	100.52	102.15	120.36	122.9	180.85	221.36	232.3	223.88	212	217.68	143.39	90.12	77.46
Tokyo: Land, total	183.97	165.73	160.6	156.41	141.64	129.17	127.76	122.01	121.68	113.6	105.69	100.98	97.94	96.47	99.46	100	98.52	121.06	130.49	114.44	105.61	107.84	108.76	108.91	112.84	117.71	120.5	123.32	145.92	148.92	173.72	202.44	225.57	287.89	361.96	433.81	401.07	424.23	428.67	255.75	180.65	143.03
Tokyo: Commercial land	185.37	168.6	160.84	163.09	146.2	133.9	129.43	126.17	121.12	113.52	106.04	101.65	101.14	95.44	97.39	100	99.42	123.79	136.76	115.96	108.27	104.7	107.52	108.32	108.33	114.55	114.48	121.19	145.85	147.57	172.29	209.33	234.7	305.29	399.95	470.41	436.22	468.98	483.38	281.56	197.55	148.29
Tokyo: Industrial land	181.42	160.43	160.43	147.74	131.42	120.87	124.87	113.24	123.04	113.77	104.94	99.62	91.21	98.55	104.43	100	96.96	114.42	117.83	110.47	99.01	114.74	112.62	111.07	123.49	127.15	133.35	129.45	146.12	152.1	176.14	182.9	199.19	239.02	254.61	317.67	285.18	278.68	272.88	168.15	120.39	124.28
Aichi prefecture10
Aichi prefecture: Commercial property, total	130.87	133.23	132.49	123.5	120.55	114.83	112.58	111.26	111.35	111.05	105.64	101.2	99.43	94.3	98.05	100	102.34	115.59	119.19	110.22	102.68	94.48	97.67	108.22	119.38	122.92	131.5	138.59	151.32	162.12	180.42	185.95	201.47	232.41	281.98	284.03	220.42	183.05	185.73	137.79	127.51	122.55
Aichi prefecture: Land with structure, total	146.6	149.73	143.75	139.66	132.5	125.59	118.28	117.05	120.57	120.3	112.43	105.84	101.44	94.93	98.13	100	99.36	121.58	122.66	112.95	104.88	96.15	98.97	109.44	126.19	128.38	131.92	143.32	158.33	164.19	187.97	201.51	225.52	237.76	288.09	298.57	234.05	204.22	184.56	144.76	141.71	114.84
Aichi prefecture: Retail	173.51	171.63	181.07	152.16	163.41	142.65	130.58	124.61	137.18	134.26	128.28	111.12	119.8	109.41	98.92	100	109.57	109.75	132.2	116.75	116.29	107.81	110.66	120.01	140.46	133.93	145.25	153.55	158.86	183.62	233.51	251	243.88	317.43	313.93	356.42	282.88	219.72	239.89	157.15	153.73	149.96
Aichi prefecture: Office	144.68	159.79	149.19	133.68	139.07	132.18	123.75	113.16	122.16	115.55	114.83	99.96	99.4	91.69	98.49	100	95.7	119.69	128.08	119.47	101.65	93.84	86.63	96.88	110.94	121.47	120.73	129.75	143.75	187.58	165.4	213.62	236.08	279.3	323.47	339.68	213.4	280.74	202.86	165.13	134.84	93.93
Aichi prefecture: Warehouse	133.48	124.91	123.9	107.74	104.23	103.08	101.82	107.25	104.44	100.27	102.59	111.74	99.98	97.33	109.41	100	113.31	139.3	141.15	126.16	116.37	103.62	118.49	131.25	147	143.31	150.97	175.08	197.74	180.44	205.6	212.08	237.86	242.49	322.1	345.11	230.46	236.01	153.18	147.01	171.79	139.69
Aichi prefecture: Factory	110.82	124.15	103.91	132.6	104.96	101.29	109.06	106.65	97.72	118.81	105.65	97.86	100.99	93.11	98.47	100	98.17	118.89	119.72	112.15	97.52	106.33	103.61	116.82	128.89	145.45	148.75	157.62	183.03	147.55	202.37	170.88	237.78	180.12	263.14	282.97	257.42	169.89	170.76	115.99	145.19	125.05
Aichi prefecture: Apartment buildings (whole building)	153.68	151.17	147.11	145.65	135.27	130	124.76	123.45	126.38	125.76	111.59	110.41	97.29	91.97	91.4	100	91.5	127.44	111.92	101.49	102.5	76.9	83.72	93.22	106.89	98.51	115.41	115.33	114.32	143.78	186.48	165.96	154.18	184.04	231.03	201.91	180.16	124.22	131.3	128.04	97.4	88.81
Aichi prefecture: Land, total	113.2	114.08	115.46	107.49	107.4	102.95	106.65	105.76	101.59	100.63	98.32	95.67	97.17	93.7	98	100	104.77	110.9	116.4	108.08	101.02	93.34	96.64	107.33	114.69	119	131.22	135.89	147.59	161.37	174.94	180.24	191.31	230.94	279.5	277.15	213.9	175.65	185.72	136.23	124.39	125.53
Aichi prefecture: Commercial land	123.58	122.34	125.74	116.22	116.22	111.53	111.2	120.75	106.65	103.41	103.82	97.65	98.97	97.57	98.32	100	112.08	117.82	123.57	117.41	104.9	88.42	95.92	103.82	112.14	113.49	127.74	134.25	151.54	174.16	188.14	191.58	218.45	275.17	353.18	364.81	260.97	219.06	234.12	158.67	145.81	138.67
Aichi prefecture: Industrial land	101.64	103.48	103.7	97.01	97.11	93.36	101.31	88.4	95.44	97.22	92.4	93.9	95.3	90.18	97.66	100	96.97	102.21	110.01	99.43	96.95	98.03	97.38	111.01	117.11	124.37	134.72	138.11	143.72	150.24	161.99	168.24	162.33	184.55	200.69	176.64	152.24	127.53	117.68	110.44	108.28	111.26
Osaka prefecture10
Osaka prefecture: Commercial property, total	176.95	169.45	158.32	144.09	136.39	130.52	134.82	126.37	120.5	115.29	110.64	104.73	102.09	98.19	98.39	100	98.4	124.02	133.82	134.35	112.51	100.68	101.99	110.32	125.86	137.55	152.08	171.04	188.32	199.74	222.11	256.39	290.07	371.29	534.42	680.82	497.78	349.67	285.41	214.66	180.23	172.74
Osaka prefecture: Land with structure, total	181.59	174	162.87	147.67	140.55	135.87	140.48	132.79	125.02	120.65	115.17	107.55	102.75	99.52	98.76	100	100.47	122.11	132.06	132.73	114.34	99.6	95.22	105.13	120.32	129.07	141.78	165.55	175.58	192.75	215.65	224.82	271.48	335.9	458.25	538.26	393.41	299.24	228.67	164.12	155.99	143.8
Osaka prefecture: Retail	197.88	192.95	190.57	174.03	162.65	143.46	177.71	156.55	145.61	152.77	137.78	110.13	106.71	103.13	105.89	100	110.23	124.46	138.63	145.35	115.17	103.33	115.27	119.08	141.37	141.97	167.93	187.82	205.79	217.25	271.01	253.07	303.67	367.31	537.52	668.2	419.43	310.94	255.74	212.64	205.32	198.66
Osaka prefecture: Office	182.87	183.15	183.68	145.67	145.93	140.26	137.49	132.88	123.95	115.11	107.05	103.53	104.53	101.39	96.18	100	101.97	125.01	133.19	133.63	113.34	97.43	85.52	93.53	107.26	127.1	137.1	155.99	165.23	191.61	223.59	254.83	327.35	448.17	593.03	656.14	515.67	384.16	258.59	147.14	147.97	139.78
Osaka prefecture: Warehouse	154.94	133.31	116.46	120.45	110.89	121.39	111.38	122.87	108.15	92.53	94.67	101.27	95.27	90.8	100.84	100	101.12	124.96	128.32	122.99	100.8	101.25	90.56	105.33	120.88	130.39	136.92	172.94	179.5	205.84	205.03	211.88	260.4	268.75	319.19	565.89	388.63	337.31	224.44	141.04	145.56	120.24
Osaka prefecture: Factory	134.44	147.6	118.94	100.39	111.32	107.06	102.8	84.92	110.88	102.98	93.38	98.7	90.12	86.34	88.39	100	95.82	128.68	133.34	136.19	116.99	114.15	106.66	122.4	137.99	150.54	165.15	216.99	236.6	220.74	202.27	254.46	233.23	345.19	424.07	548.73	432.44	272.96	206.24	165.56	169.78	140.53
Osaka prefecture: Apartment buildings (whole building)	196.36	187.1	175.5	166.04	152.02	147.21	138.55	138.45	134.58	130.42	122.82	115.21	113.64	106.62	98.54	100	92.29	107.65	126.38	118.72	123.83	91.71	92.04	94.82	106.88	98.5	107.01	122.68	127.64	146.3	164.19	158.95	196.92	209.72	297.54	355.36	271.24	203.57	172.31	132.42	106.47	113.03
Osaka prefecture: Land, total	162.24	157.33	147.87	133.4	124.57	117.63	121.28	108.79	109.05	101.79	98.85	97.75	100.77	95.83	97.85	100	94.34	127.92	137.58	138.81	108.63	103.42	113.56	118.98	132.72	148.89	164.99	179.68	206.21	210.27	231.73	296.2	311.84	422.65	632.35	844.27	595.75	401.13	329.24	255.38	201.7	196.28
Osaka prefecture: Commercial land	181.7	168.28	164.52	143.48	131.69	122.93	134.19	116.59	119.68	107.43	102.4	107.04	105.47	100.3	96.51	100	97.33	137.17	150.87	146.63	109.17	101.61	108.77	111.85	130.47	148.4	159.26	175.62	209.45	213.15	235.17	310.47	350.93	509.09	774.84	1,101.34	776.96	529.44	426.77	309.46	226.05	228.23
Osaka prefecture: Industrial land	139.78	143.99	131.16	125.32	117.46	111.87	108.54	98.84	98.8	96.33	95.3	88.72	96.53	91.75	99.53	100	92.14	119.27	124.86	128.61	108.01	104.89	117.84	126.29	134.74	149.35	169.1	184.26	202.7	207.23	228.09	278.88	276.2	338.15	473.5	552.06	416.87	287.99	211.56	184.12	179.27	160.26

Latest reading

Tokyo: Commercial property, total stood at 211.17 in 2025. That is +6.0% from 2024. The series on this page is annual and runs from 1984 to 2025. Source: Ministry of Land, Infrastructure, Transport and Tourism – Property Price Index.

Latest: 211.17; 2025
vs previous period: +6.0%; 2024

About this data

Annual commercial property price index for the three prefectures that hold Japan's largest business districts — Tokyo, Aichi and Osaka — from 1984, split into retail, office, warehouse, factory and apartment buildings and into commercial and industrial land. MLIT publishes these three prefectures as a yearly series only, unlike the quarterly regional index. The index is built from the registered prices of about 300,000 real transactions a year, with 2010 = 100. Source: Ministry of Land, Infrastructure, Transport and Tourism. Publication has been suspended since April 2026 while MLIT fixes a fault in the calculation program, so the series ends in December 2025.