Hyogo Housing Market 2025: Central Kobe Takes Off While the Suburbs Stall
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥22.0M
- ¥400k/m² · +4.3% vs 2024
- Median house price (land + building)
- ¥23.0M
- -5.0% vs 2024
- Residential land per m² (sales)
- ¥78k/m²
- +27.9% over 5 years
- Transactions in 2025
- 11,563
- #8 of 47 areas in Japan by price per m²
Condo growth has accelerated
Hyogo's condo prices per m² rose only about 2.4% a year in the five years to 2020, then accelerated to almost 6% a year. Even so, Hyogo has slipped further behind the national average, because Osaka and Tokyo grew faster, and the prefecture is losing people: its population fell 2.6% between 2020 and 2025, and slightly more people left than arrived in 2025.
The action is in central Kobe
Kobe's Hyogo Ward (Shinkaichi and the Kobe Station area) has seen condo prices per m² more than double in five years, and Chuo Ward (Sannomiya) is up about 43%. Central Kobe is a government priority renewal zone, and the city has redeveloped Sannomiya while limiting new tower condos in the center, which supports prices of existing ones. The traditionally prestigious Hanshin suburbs (Nishinomiya, Ashiya and Higashinada) have risen less than 20% in five years. They remain expensive, but growth has moved elsewhere.
Land is not following
On the government's fixed benchmark sites, residential land in Hyogo rose only about 7% in five years and is still 62% below its 1991 level. The higher growth in transaction prices comes from more central and more expensive properties selling, not from land across the prefecture getting dearer.
Old condos carry a huge discount
Pre-1981 condos sell at more than half off the per-m² price of 1980s and 90s buildings, the largest discount of any big prefecture, and condos keep losing about 4% a year even after 25 years. Much of that older stock is in hillside new towns in northern and western Kobe, where demand is weak and 6.2% of homes across the prefecture are abandoned.
Houses take a long time to bottom out
The median house price has drifted down since 2015, and house prices per m² keep falling until about 40 years old, much longer than in most areas.
Risks
Kobe is squeezed between mountains and sea, and 4.3% of benchmark sites are in landslide warning areas, higher than the national 2.6%. The chance of 6-lower shaking within 30 years is about 33%, a little below the national average.
Living in Hyogo: people, homes and risks
- Population 2025
- 5,323,825
- -2.6% since 2020
- Japan: -2.5%
- Net moves in 2025
- -2,102
- -0.39 per 1,000 residents
- Vacant homes (2023)
- 13.8%
- 6.2% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥57k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 33.0%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Official land price 2026
- ¥102k/m²
- +2.1% in a year · +6.7% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 46.1%
- of 1103 benchmark sites in a worst-case flood zone (8.7% 3 m or deeper)
- Japan: 42.6%
- Landslide exposure
- 4.3%
- of 1103 benchmark sites in a landslide warning area
- Japan: 2.6%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Port Island West, Kobe · 273 ha · designated 2002
- Central Kobe and Waterfront (Sannomiya) · 215 ha · designated 2002 · Specified zone (highest priority)
Check flood, landslide and tsunami zones for a specific address on the government hazard map ↗
Sources: 2025 Census (preliminary), 2025 Internal Migration Report, 2023 Housing and Land Survey (Statistics Bureau of Japan); J-SHIS seismic hazard model (NIED, 2024); Land Price Publication (MLIT). Earthquake probability is measured at the municipal center.
Example sales in Hyogo
Real transactions from the last four quarters, picked near the lower (20th percentile), middle and upper (80th percentile) price points. Locations are shown at district level, as published by MLIT.
Condo
¥11.0M
¥183k/m²
- Koyochonaka, Higashinada Ward, Kobe City
- Marine Park · 4 min walk
- 3LDK · 60 m²
- Built 2001 (25 yrs) · SRC
¥22.0M
¥314k/m²
- Kojidai, Nishi Ward, Kobe City
- Seishin Chuo · 6 min walk
- 3LDK · 70 m²
- Built 1989 (37 yrs) · SRC
¥41.0M
¥683k/m²
- Tomodacho, Nada Ward, Kobe City
- Shinzaike · 2 min walk
- 3LDK · 60 m²
- Built 2003 (23 yrs) · RC
House
¥6.0M
¥33k/m²
- Suzurandaiminamimachi, Kita Ward, Kobe City
- Suzurandai · 7 min walk
- Land 680 m² · floor 180 m²
- Built 1964 (62 yrs) · Wood
¥23.0M
¥128k/m²
- Ogawadoori, Hyogo Ward, Kobe City
- Chuoichibamae · 8 min walk
- Land 160 m² · floor 180 m²
- Built 1973 (53 yrs) · Steel
¥48.0M
¥533k/m²
- Nadaminamidoori, Nada Ward, Kobe City
- Maya · 2 min walk
- Land 60 m² · floor 90 m²
- Built 2026 (0 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2006 | ¥12.0M | ¥30.0M |
| 2007 | ¥15.0M | ¥28.0M |
| 2008 | ¥15.0M | ¥27.0M |
| 2009 | ¥16.0M | ¥26.0M |
| 2010 | ¥15.0M | ¥26.0M |
| 2011 | ¥16.0M | ¥25.0M |
| 2012 | ¥17.0M | ¥26.0M |
| 2013 | ¥16.0M | ¥26.0M |
| 2014 | ¥16.0M | ¥25.0M |
| 2015 | ¥16.0M | ¥25.0M |
| 2016 | ¥17.0M | ¥25.0M |
| 2017 | ¥17.0M | ¥25.0M |
| 2018 | ¥18.0M | ¥25.0M |
| 2019 | ¥18.0M | ¥24.0M |
| 2020 | ¥19.0M | ¥24.0M |
| 2021 | ¥20.0M | ¥25.0M |
| 2022 | ¥20.0M | ¥25.0M |
| 2023 | ¥21.0M | ¥24.0M |
| 2024 | ¥22.0M | ¥24.0M |
| 2025 | ¥22.0M | ¥23.0M |
| 2026 (partial) | ¥23.0M | ¥21.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2006 | ¥200k/m² | ¥260k/m² | ¥83k/m² |
| 2007 | ¥229k/m² | ¥240k/m² | ¥68k/m² |
| 2008 | ¥229k/m² | ¥231k/m² | ¥70k/m² |
| 2009 | ¥233k/m² | ¥224k/m² | ¥66k/m² |
| 2010 | ¥233k/m² | ¥216k/m² | ¥70k/m² |
| 2011 | ¥235k/m² | ¥211k/m² | ¥67k/m² |
| 2012 | ¥250k/m² | ¥213k/m² | ¥64k/m² |
| 2013 | ¥257k/m² | ¥211k/m² | ¥61k/m² |
| 2014 | ¥262k/m² | ¥210k/m² | ¥60k/m² |
| 2015 | ¥267k/m² | ¥200k/m² | ¥60k/m² |
| 2016 | ¥292k/m² | ¥212k/m² | ¥62k/m² |
| 2017 | ¥283k/m² | ¥210k/m² | ¥60k/m² |
| 2018 | ¥296k/m² | ¥210k/m² | ¥63k/m² |
| 2019 | ¥287k/m² | ¥192k/m² | ¥61k/m² |
| 2020 | ¥308k/m² | ¥200k/m² | ¥61k/m² |
| 2021 | ¥329k/m² | ¥204k/m² | ¥60k/m² |
| 2022 | ¥356k/m² | ¥200k/m² | ¥61k/m² |
| 2023 | ¥378k/m² | ¥200k/m² | ¥65k/m² |
| 2024 | ¥383k/m² | ¥200k/m² | ¥73k/m² |
| 2025 | ¥400k/m² | ¥190k/m² | ¥78k/m² |
| 2026 (partial) | ¥420k/m² | ¥180k/m² | ¥81k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | ¥900k/m² | ¥391k/m² |
| 1 | ¥926k/m² | ¥369k/m² |
| 2 | ¥714k/m² | ¥370k/m² |
| 3 | ¥686k/m² | ¥340k/m² |
| 4 | ¥688k/m² | ¥360k/m² |
| 5 | ¥662k/m² | ¥306k/m² |
| 6 | ¥700k/m² | ¥349k/m² |
| 7 | ¥678k/m² | ¥341k/m² |
| 8 | ¥680k/m² | ¥350k/m² |
| 9 | ¥731k/m² | ¥325k/m² |
| 10 | ¥700k/m² | ¥304k/m² |
| 11 | ¥676k/m² | ¥289k/m² |
| 12 | ¥583k/m² | ¥284k/m² |
| 13 | ¥571k/m² | ¥264k/m² |
| 14 | ¥507k/m² | ¥253k/m² |
| 15 | ¥523k/m² | ¥238k/m² |
| 16 | ¥525k/m² | ¥260k/m² |
| 17 | ¥507k/m² | ¥257k/m² |
| 18 | ¥480k/m² | ¥250k/m² |
| 19 | ¥493k/m² | ¥231k/m² |
| 20 | ¥450k/m² | ¥221k/m² |
| 21 | ¥444k/m² | ¥215k/m² |
| 22 | ¥433k/m² | ¥219k/m² |
| 23 | ¥400k/m² | ¥182k/m² |
| 24 | ¥400k/m² | ¥163k/m² |
| 25 | ¥400k/m² | ¥173k/m² |
| 26 | ¥360k/m² | ¥177k/m² |
| 27 | ¥313k/m² | ¥169k/m² |
| 28 | ¥289k/m² | ¥153k/m² |
| 29 | ¥242k/m² | ¥165k/m² |
| 30 | ¥213k/m² | ¥157k/m² |
| 31 | ¥215k/m² | ¥133k/m² |
| 32 | ¥216k/m² | ¥125k/m² |
| 33 | ¥200k/m² | ¥137k/m² |
| 34 | ¥222k/m² | ¥129k/m² |
| 35 | ¥233k/m² | ¥127k/m² |
| 36 | ¥249k/m² | ¥130k/m² |
| 37 | ¥260k/m² | ¥110k/m² |
| 38 | ¥240k/m² | ¥111k/m² |
| 39 | ¥231k/m² | ¥105k/m² |
| 40 | ¥214k/m² | ¥84k/m² |
| 41 | ¥183k/m² | ¥87k/m² |
| 42 | ¥171k/m² | ¥85k/m² |
| 43 | ¥185k/m² | ¥86k/m² |
| 44 | ¥169k/m² | ¥89k/m² |
| 45 | ¥151k/m² | ¥91k/m² |
| 46 | ¥130k/m² | ¥93k/m² |
| 47 | ¥114k/m² | ¥80k/m² |
| 48 | ¥94k/m² | ¥81k/m² |
| 49 | ¥115k/m² | ¥84k/m² |
| 50 | ¥111k/m² | ¥80k/m² |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1971-1980 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|---|
| 2006 | ¥92k/m² | ¥200k/m² | ¥375k/m² | – |
| 2007 | ¥110k/m² | ¥217k/m² | ¥400k/m² | – |
| 2008 | ¥122k/m² | ¥211k/m² | ¥400k/m² | – |
| 2009 | ¥107k/m² | ¥200k/m² | ¥400k/m² | – |
| 2010 | ¥108k/m² | ¥200k/m² | ¥375k/m² | – |
| 2011 | ¥118k/m² | ¥200k/m² | ¥373k/m² | ¥510k/m² |
| 2012 | ¥117k/m² | ¥200k/m² | ¥383k/m² | ¥650k/m² |
| 2013 | ¥101k/m² | ¥213k/m² | ¥383k/m² | ¥720k/m² |
| 2014 | ¥113k/m² | ¥222k/m² | ¥386k/m² | ¥586k/m² |
| 2015 | ¥110k/m² | ¥215k/m² | ¥385k/m² | ¥560k/m² |
| 2016 | ¥113k/m² | ¥231k/m² | ¥415k/m² | ¥557k/m² |
| 2017 | ¥120k/m² | ¥217k/m² | ¥425k/m² | ¥575k/m² |
| 2018 | ¥131k/m² | ¥233k/m² | ¥428k/m² | ¥550k/m² |
| 2019 | ¥129k/m² | ¥227k/m² | ¥438k/m² | ¥575k/m² |
| 2020 | ¥132k/m² | ¥233k/m² | ¥436k/m² | ¥600k/m² |
| 2021 | ¥114k/m² | ¥243k/m² | ¥446k/m² | ¥615k/m² |
| 2022 | ¥149k/m² | ¥271k/m² | ¥486k/m² | ¥633k/m² |
| 2023 | ¥146k/m² | ¥278k/m² | ¥500k/m² | ¥686k/m² |
| 2024 | ¥144k/m² | ¥291k/m² | ¥507k/m² | ¥720k/m² |
| 2025 | ¥134k/m² | ¥283k/m² | ¥514k/m² | ¥778k/m² |
| 2026 (partial) | ¥120k/m² | ¥300k/m² | ¥560k/m² | ¥840k/m² |
Each line follows buildings from one construction period over time. 1981 is when Japan's current earthquake-resistance standard (shin-taishin) took effect.
Show data table
| Year | 1971-1980 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|---|
| 2006 | ¥129k/m² | ¥187k/m² | ¥316k/m² | – |
| 2007 | ¥136k/m² | ¥168k/m² | ¥325k/m² | – |
| 2008 | ¥125k/m² | ¥159k/m² | ¥317k/m² | – |
| 2009 | ¥107k/m² | ¥154k/m² | ¥313k/m² | – |
| 2010 | ¥109k/m² | ¥147k/m² | ¥310k/m² | ¥335k/m² |
| 2011 | ¥105k/m² | ¥152k/m² | ¥251k/m² | ¥320k/m² |
| 2012 | ¥105k/m² | ¥144k/m² | ¥232k/m² | ¥318k/m² |
| 2013 | ¥101k/m² | ¥145k/m² | ¥224k/m² | ¥330k/m² |
| 2014 | ¥98k/m² | ¥150k/m² | ¥212k/m² | ¥324k/m² |
| 2015 | ¥92k/m² | ¥141k/m² | ¥214k/m² | ¥326k/m² |
| 2016 | ¥88k/m² | ¥144k/m² | ¥211k/m² | ¥326k/m² |
| 2017 | ¥86k/m² | ¥138k/m² | ¥218k/m² | ¥322k/m² |
| 2018 | ¥91k/m² | ¥136k/m² | ¥233k/m² | ¥336k/m² |
| 2019 | ¥80k/m² | ¥130k/m² | ¥221k/m² | ¥336k/m² |
| 2020 | ¥77k/m² | ¥122k/m² | ¥222k/m² | ¥337k/m² |
| 2021 | ¥77k/m² | ¥130k/m² | ¥218k/m² | ¥326k/m² |
| 2022 | ¥94k/m² | ¥144k/m² | ¥247k/m² | ¥324k/m² |
| 2023 | ¥86k/m² | ¥136k/m² | ¥253k/m² | ¥333k/m² |
| 2024 | ¥87k/m² | ¥133k/m² | ¥235k/m² | ¥357k/m² |
| 2025 | ¥75k/m² | ¥140k/m² | ¥222k/m² | ¥327k/m² |
| 2026 (partial) | ¥73k/m² | ¥128k/m² | ¥233k/m² | ¥333k/m² |
Prices by area in Hyogo
Median prices for 2025. Sorted by condo price per m² (or house price per m² where there are few condo sales).
| Area | Condo price per m² | Median used condo price | Median house price (land + building) | Residential land per m² (sales) | Condo 5-yr change |
|---|---|---|---|---|---|
| Hyogo Ward, Kobe City | ¥857k/m² | ¥21.0M | ¥25.0M | ¥195k/m² | +130.5% |
| Chuo Ward, Kobe City | ¥800k/m² | ¥21.0M | ¥58.5M | ¥430k/m² | +42.9% |
| Nada Ward, Kobe City | ¥475k/m² | ¥30.0M | ¥48.0M | ¥515k/m² | +8.2% |
| Nishinomiya City | ¥455k/m² | ¥34.0M | ¥52.0M | ¥340k/m² | +6.5% |
| Ashiya City | ¥455k/m² | ¥35.0M | ¥68.0M | ¥370k/m² | +17.8% |
| Higashinada Ward, Kobe City | ¥427k/m² | ¥30.0M | ¥55.0M | ¥415k/m² | +17.3% |
| Amagasaki City | ¥400k/m² | ¥24.0M | ¥35.0M | ¥230k/m² | +27.7% |
| Itami City | ¥387k/m² | ¥27.0M | ¥38.0M | ¥230k/m² | +16.0% |
| Nagata Ward, Kobe City | ¥350k/m² | ¥18.5M | ¥9.9M | ¥81k/m² | +24.9% |
| Takarazuka City | ¥307k/m² | ¥22.0M | ¥36.5M | ¥180k/m² | +22.7% |
| Kawanishi City | ¥267k/m² | ¥20.0M | ¥18.5M | ¥110k/m² | +25.5% |
| Nishi Ward, Kobe City | ¥261k/m² | ¥22.0M | ¥25.0M | ¥97k/m² | +23.4% |
| Harima Town, Kako County | – | – | ¥27.0M | ¥79k/m² | – |
| Akashi City | ¥236k/m² | ¥15.0M | ¥27.0M | ¥140k/m² | +18.2% |
| Tarumi Ward, Kobe City | ¥224k/m² | ¥16.0M | ¥27.0M | ¥130k/m² | +19.8% |
| Suma Ward, Kobe City | ¥188k/m² | ¥12.5M | ¥27.0M | ¥150k/m² | -6.2% |
| Himeji City | ¥179k/m² | ¥12.0M | ¥20.0M | ¥57k/m² | +4.1% |
| Sanda City | ¥177k/m² | ¥14.5M | ¥23.0M | ¥66k/m² | +11.3% |
| Kakogawa City | ¥138k/m² | ¥9.8M | ¥17.0M | ¥75k/m² | +8.7% |
| Taishi Town, Ibo County | – | – | ¥24.0M | ¥45k/m² | – |
| Kita Ward, Kobe City | ¥130k/m² | ¥8.9M | ¥16.0M | ¥63k/m² | +14.1% |
| Kato City | – | – | ¥15.5M | ¥22k/m² | – |
| Inagawa Town, Kawabe County | – | – | ¥13.0M | – | – |
| Ono City | – | – | ¥11.0M | ¥68k/m² | – |
| Takasago City | – | – | ¥9.8M | ¥54k/m² | – |
| Miki City | – | – | ¥11.0M | ¥11k/m² | – |
| Awaji City | – | – | ¥12.0M | ¥32k/m² | – |
| Ako City | – | – | ¥9.5M | ¥24k/m² | – |
| Tatsuno City | – | – | ¥7.7M | ¥27k/m² | – |
| Minamiawaji City | – | – | ¥14.0M | ¥17k/m² | – |
| Sumoto City | – | – | ¥5.0M | ¥15k/m² | – |
| Nishiwaki City | – | – | ¥6.7M | ¥9k/m² | – |
| Kamigori Town, Ako County | – | – | ¥4.5M | – | – |
| Kasai City | – | – | ¥4.0M | ¥10k/m² | – |
| Aioi City | – | – | ¥4.0M | ¥32k/m² | – |
| Toyooka City | – | – | ¥6.7M | ¥27k/m² | – |
| Tamba Sasayama City | – | – | ¥4.8M | ¥16k/m² | – |
| Tanba City | – | – | ¥6.0M | ¥6k/m² | – |
| Shiso City | – | – | ¥3.0M | ¥5k/m² | – |
| Asago City | – | – | ¥2.5M | ¥5k/m² | – |
| Yabu City | – | – | ¥1.5M | – | – |
Prices near train stations in Hyogo
Sales from 2023–2025, grouped by nearest station.
| Station | Median used condo price | Condo price per m² | Median house price (land + building) | Walk (min) | Sales |
|---|---|---|---|---|---|
| Himeji (姫路) | ¥13.0M | ¥215k/m² | ¥23.0M | 16 | 742 |
| Itami(Hankyu) (伊丹(阪急)) | ¥20.0M | ¥300k/m² | ¥38.0M | 12 | 493 |
| Sannomiya(JR) (三ノ宮(ＪＲ)) | ¥25.0M | ¥818k/m² | ¥140M | 9 | 469 |
| Tarumi(Hyogo) (垂水) | ¥20.0M | ¥285k/m² | ¥28.0M | 15 | 425 |
| Mukonoso (武庫之荘) | ¥21.0M | ¥345k/m² | ¥43.0M | 14 | 408 |
| Tachibana (立花) | ¥18.5M | ¥339k/m² | ¥33.0M | 12 | 343 |
| Akashi (明石) | ¥20.5M | ¥336k/m² | ¥27.0M | 10 | 318 |
| Myodani (名谷) | ¥10.5M | ¥145k/m² | ¥29.0M | 16 | 294 |
| Seishin Chuo (西神中央) | ¥24.0M | ¥315k/m² | ¥34.0M | 10 | 279 |
| Okubo(Hyogo) (大久保(兵庫)) | ¥25.0M | ¥323k/m² | ¥32.0M | 13 | 275 |
| Kakogawa (加古川) | ¥10.5M | ¥163k/m² | ¥24.0M | 15 | 259 |
| Nishi Akashi (西明石) | ¥22.0M | ¥331k/m² | ¥35.0M | 11 | 258 |
| Asagiri(Hyogo) (朝霧) | ¥6.0M | ¥100k/m² | ¥32.0M | 15 | 256 |
| Rokko (六甲) | ¥18.0M | ¥275k/m² | ¥46.5M | 12 | 247 |
| Sakasegawa (逆瀬川) | ¥19.0M | ¥243k/m² | ¥36.0M | 14 | 238 |
Used condo prices by layout in Hyogo
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥25.0M | 70 m² | 4334 |
| 2LDK | ¥24.0M | 60 m² | 1468 |
| 1K | ¥17.0M | 20 m² | 969 |
| 4LDK | ¥26.0M | 85 m² | 821 |
| 1LDK | ¥25.0M | 50 m² | 385 |
| 2DK | ¥14.0M | 50 m² | 180 |
| 1DK | ¥19.0M | 30 m² | 167 |
| 3DK | ¥6.7M | 55 m² | 90 |
How much does an apartment cost in Hyogo?
The median used condo (mansion) in Hyogo sold for ¥22.0M in 2025, about ¥400k/m², based on 3412 recorded sales.
How much does a house cost in Hyogo?
The median house sale, including the land, was ¥23.0M in 2025 across 5110 sales.
Are property prices in Hyogo going up?
Over the five years to 2025, condo prices per m² changed +30.0% and residential land prices changed +27.9%.
About this data
Figures are medians of real transactions reported to Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT) through its quarterly price survey. House prices per m² divide the total price (land and building) by the floor area. Medians based on fewer than 20 sales are not shown. The latest quarters are preliminary and are revised as more survey responses arrive.
Information only, not investment advice.