Understanding Japanese Property Prices
How to compare transaction medians and price trends
Understanding the median
The median is the middle value of the recorded prices. It is less affected by a single unusually expensive transaction than an average, but it is not a valuation of any individual property.
Price per square metre
A unit price expresses price per square metre. It can help compare land transactions of different sizes. For Japanese property listings, prices may also be reported per tsubo (approximately 3.3058 m²).
Compare similar transactions
Separate land-only transactions, land with buildings and condominium transactions. Different size, age, condition and location can explain large price differences even within the same municipality.
Interpreting trends
Year-to-year differences in median prices do not necessarily mean that every property in the area rose or fell in value. Changing transaction composition and small samples can distort trends.