Kagawa Housing Market 2025: Japan's Cheapest Market Relative to Rent
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥11.0M
- ¥172k/m²
- Median house price (land + building)
- ¥13.0M
- -5.0% vs 2024
- Residential land per m² (sales)
- ¥24k/m²
- -11.1% over 5 years
- Transactions in 2025
- 1,734
- #46 of 47 areas in Japan by price per m²
Prices are low relative to rents
A median condo in Kagawa costs only about 19 years of the local median rent, the second-lowest ratio in Japan and half the national figure. For investors that signals high yields; for residents it means buying can be cheaper than renting over time.
Prices have stalled
Condo price growth slowed to about 1.7% a year over the last five years, from 4.5% before, and Takamatsu's condo prices per m² are up only about 8% in five years. On the government's fixed benchmark sites, residential land fell about 2% over five years and is almost two-thirds below its 1991 level. The Takamatsu Station and Marugamemachi area is a government urban renewal zone.
Population and vacancy
Kagawa's population fell 4.5% between 2020 and 2025. 9.7% of homes are abandoned, and transactions fell about 12% in three years.
Houses bottom out late
Kagawa houses keep losing value until about 34 years old, by which point they have lost about 80% of their per-m² value from new.
Earthquake risk
Kagawa has relatively high earthquake risk (about 62% chance of 6-lower shaking in 30 years) due to the Nankai Trough, but no tsunami exposure at benchmark sites thanks to the sheltered Seto Inland Sea. Water shortages have historically been an issue in this dry prefecture.
Living in Kagawa: people, homes and risks
- Population 2025
- 907,725
- -4.5% since 2020
- Japan: -2.5%
- Net moves in 2025
- -2,238
- -2.47 per 1,000 residents
- Vacant homes (2023)
- 18.6%
- 9.7% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥47k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 61.8%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Official land price 2026
- ¥32k/m²
- -0.1% in a year · -1.7% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 49.1%
- of 165 benchmark sites in a worst-case flood zone (1.2% 3 m or deeper)
- Japan: 42.6%
- Landslide exposure
- 3.0%
- of 165 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.
- Takamatsu Station and Marugamemachi · 51 ha · designated 2002
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 Kagawa
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
¥5.2M
¥149k/m²
- Ritsurincho, Takamatsu City
- Ritsurin Koen · 6 min walk
- 1LDK · 35 m²
- Built 1989 (36 yrs) · RC
¥16.0M
¥246k/m²
- Otakamimachi, Takamatsu City
- Ota(Takamatsu) · 18 min walk
- 3LDK · 65 m²
- Built 1994 (32 yrs) · RC
¥26.0M
¥400k/m²
- Fuseishicho, Takamatsu City
- Sanjo(Takamatsu) · 2 min walk
- 2LDK · 65 m²
- Built 2018 (8 yrs) · RC
House
¥3.1M
¥27k/m²
- Kawanabecho, Takamatsu City
- Enza
- Land 400 m² · floor 115 m²
- Built 1980 (45 yrs) · Wood
¥12.0M
¥89k/m²
- Ikushimacho, Takamatsu City
- Kozai
- Land 195 m² · floor 135 m²
- Built 1988 (38 yrs) · Wood
¥28.0M
¥431k/m²
- Sanjocho, Takamatsu City
- Fuseishi · 5 min walk
- Land 660 m² · floor 65 m²
- Built 1971 (55 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥8.8M | ¥15.0M |
| 2008 | ¥7.9M | ¥13.0M |
| 2009 | ¥9.2M | ¥14.0M |
| 2010 | ¥9.2M | ¥14.0M |
| 2011 | ¥10.0M | ¥14.0M |
| 2012 | ¥9.7M | ¥13.0M |
| 2013 | ¥7.8M | ¥14.0M |
| 2014 | ¥9.0M | ¥12.0M |
| 2015 | ¥9.0M | ¥13.0M |
| 2016 | ¥9.2M | ¥13.0M |
| 2017 | ¥9.2M | ¥14.0M |
| 2018 | ¥10.0M | ¥12.0M |
| 2019 | ¥13.0M | ¥14.0M |
| 2020 | ¥10.0M | ¥15.5M |
| 2021 | ¥11.0M | ¥14.0M |
| 2022 | ¥10.0M | ¥10.0M |
| 2023 | ¥14.0M | ¥12.0M |
| 2024 | ¥13.0M | ¥12.0M |
| 2025 | ¥11.0M | ¥13.0M |
| 2026 (partial) | ¥14.0M | ¥10.5M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥142k/m² | ¥107k/m² | ¥30k/m² |
| 2008 | ¥120k/m² | ¥96k/m² | ¥30k/m² |
| 2009 | ¥140k/m² | ¥100k/m² | ¥28k/m² |
| 2010 | ¥132k/m² | ¥103k/m² | ¥27k/m² |
| 2011 | ¥150k/m² | ¥95k/m² | ¥25k/m² |
| 2012 | ¥138k/m² | ¥89k/m² | ¥25k/m² |
| 2013 | ¥121k/m² | ¥89k/m² | ¥24k/m² |
| 2014 | ¥127k/m² | ¥82k/m² | ¥22k/m² |
| 2015 | ¥138k/m² | ¥81k/m² | ¥23k/m² |
| 2016 | ¥132k/m² | ¥88k/m² | ¥24k/m² |
| 2017 | ¥131k/m² | ¥89k/m² | ¥26k/m² |
| 2018 | ¥150k/m² | ¥86k/m² | ¥24k/m² |
| 2019 | ¥174k/m² | ¥96k/m² | ¥22k/m² |
| 2020 | ¥157k/m² | ¥97k/m² | ¥27k/m² |
| 2021 | ¥154k/m² | ¥86k/m² | ¥26k/m² |
| 2022 | ¥150k/m² | ¥71k/m² | ¥25k/m² |
| 2023 | ¥200k/m² | ¥86k/m² | ¥27k/m² |
| 2024 | ¥187k/m² | ¥84k/m² | ¥26k/m² |
| 2025 | ¥172k/m² | ¥80k/m² | ¥24k/m² |
| 2026 (partial) | ¥215k/m² | ¥76k/m² | ¥30k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥265k/m² |
| 1 | – | ¥263k/m² |
| 2 | – | ¥271k/m² |
| 3 | – | ¥229k/m² |
| 4 | – | ¥199k/m² |
| 5 | ¥341k/m² | ¥208k/m² |
| 6 | ¥400k/m² | – |
| 7 | ¥350k/m² | ¥185k/m² |
| 8 | – | ¥191k/m² |
| 9 | – | ¥205k/m² |
| 10 | – | ¥167k/m² |
| 11 | ¥366k/m² | ¥160k/m² |
| 12 | ¥340k/m² | ¥163k/m² |
| 13 | ¥349k/m² | ¥188k/m² |
| 14 | ¥357k/m² | ¥131k/m² |
| 15 | ¥308k/m² | ¥162k/m² |
| 16 | ¥289k/m² | ¥120k/m² |
| 17 | ¥250k/m² | ¥121k/m² |
| 18 | ¥249k/m² | ¥143k/m² |
| 19 | ¥246k/m² | ¥112k/m² |
| 20 | ¥227k/m² | ¥131k/m² |
| 21 | ¥214k/m² | ¥125k/m² |
| 22 | ¥188k/m² | ¥109k/m² |
| 23 | ¥187k/m² | ¥98k/m² |
| 24 | ¥193k/m² | ¥92k/m² |
| 25 | ¥187k/m² | ¥90k/m² |
| 26 | ¥102k/m² | ¥83k/m² |
| 27 | ¥131k/m² | ¥84k/m² |
| 28 | ¥147k/m² | ¥80k/m² |
| 29 | ¥112k/m² | ¥69k/m² |
| 30 | ¥112k/m² | ¥72k/m² |
| 31 | ¥142k/m² | ¥67k/m² |
| 32 | ¥96k/m² | ¥67k/m² |
| 33 | ¥110k/m² | ¥59k/m² |
| 34 | ¥114k/m² | ¥52k/m² |
| 35 | ¥93k/m² | ¥53k/m² |
| 36 | ¥127k/m² | ¥41k/m² |
| 37 | – | ¥61k/m² |
| 38 | – | ¥60k/m² |
| 39 | – | ¥59k/m² |
| 40 | – | ¥56k/m² |
| 41 | – | ¥43k/m² |
| 42 | – | ¥57k/m² |
| 43 | – | ¥52k/m² |
| 44 | – | ¥37k/m² |
| 45 | – | ¥40k/m² |
| 46 | ¥55k/m² | ¥49k/m² |
| 47 | ¥71k/m² | ¥42k/m² |
| 48 | – | ¥43k/m² |
| 49 | – | ¥39k/m² |
| 50 | – | ¥33k/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 |
|---|---|---|---|---|
| 2007 | – | ¥137k/m² | ¥243k/m² | – |
| 2008 | ¥81k/m² | ¥121k/m² | ¥248k/m² | – |
| 2009 | – | ¥121k/m² | ¥240k/m² | – |
| 2010 | ¥67k/m² | ¥120k/m² | ¥262k/m² | – |
| 2011 | – | ¥116k/m² | ¥246k/m² | – |
| 2012 | – | ¥113k/m² | ¥230k/m² | – |
| 2013 | – | ¥110k/m² | ¥227k/m² | – |
| 2014 | – | ¥109k/m² | ¥252k/m² | – |
| 2015 | ¥58k/m² | ¥121k/m² | ¥237k/m² | – |
| 2016 | ¥67k/m² | ¥117k/m² | ¥238k/m² | – |
| 2017 | ¥64k/m² | ¥120k/m² | ¥289k/m² | – |
| 2018 | – | ¥125k/m² | ¥257k/m² | – |
| 2019 | – | ¥114k/m² | ¥253k/m² | – |
| 2020 | – | ¥125k/m² | ¥253k/m² | ¥366k/m² |
| 2021 | – | ¥120k/m² | ¥262k/m² | – |
| 2022 | – | ¥138k/m² | ¥282k/m² | – |
| 2023 | – | ¥108k/m² | ¥271k/m² | – |
| 2024 | – | ¥127k/m² | ¥267k/m² | – |
| 2025 | – | ¥126k/m² | ¥267k/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 |
|---|---|---|---|---|
| 2007 | ¥80k/m² | ¥100k/m² | ¥216k/m² | – |
| 2008 | ¥69k/m² | ¥87k/m² | ¥210k/m² | – |
| 2009 | ¥66k/m² | ¥86k/m² | ¥208k/m² | – |
| 2010 | ¥64k/m² | ¥90k/m² | ¥200k/m² | ¥226k/m² |
| 2011 | ¥65k/m² | ¥83k/m² | ¥155k/m² | ¥217k/m² |
| 2012 | ¥66k/m² | ¥81k/m² | ¥154k/m² | ¥218k/m² |
| 2013 | ¥59k/m² | ¥76k/m² | ¥144k/m² | ¥220k/m² |
| 2014 | ¥54k/m² | ¥78k/m² | ¥145k/m² | ¥229k/m² |
| 2015 | ¥55k/m² | ¥79k/m² | ¥152k/m² | ¥236k/m² |
| 2016 | ¥50k/m² | ¥81k/m² | ¥150k/m² | ¥239k/m² |
| 2017 | ¥54k/m² | ¥69k/m² | ¥133k/m² | ¥233k/m² |
| 2018 | ¥44k/m² | ¥74k/m² | ¥140k/m² | ¥235k/m² |
| 2019 | ¥48k/m² | ¥78k/m² | ¥125k/m² | ¥240k/m² |
| 2020 | ¥50k/m² | ¥75k/m² | ¥124k/m² | ¥248k/m² |
| 2021 | ¥40k/m² | ¥64k/m² | ¥127k/m² | ¥214k/m² |
| 2022 | ¥43k/m² | ¥65k/m² | ¥138k/m² | ¥195k/m² |
| 2023 | ¥40k/m² | ¥70k/m² | ¥119k/m² | ¥214k/m² |
| 2024 | ¥39k/m² | ¥63k/m² | ¥120k/m² | ¥179k/m² |
| 2025 | ¥35k/m² | ¥66k/m² | ¥127k/m² | ¥182k/m² |
| 2026 (partial) | ¥27k/m² | ¥58k/m² | ¥148k/m² | – |
Prices by area in Kagawa
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 |
|---|---|---|---|---|---|
| Takamatsu City | ¥169k/m² | ¥11.0M | ¥17.0M | ¥36k/m² | +7.7% |
| Marugame City | – | – | ¥17.0M | ¥29k/m² | – |
| Miki Town, Kita County | – | – | ¥18.5M | ¥15k/m² | – |
| Zentsuji City | – | – | ¥16.5M | ¥20k/m² | – |
| Ayagawa Town, Ayauta County | – | – | ¥10.5M | – | – |
| Tadotsu Town, Nakatado County | – | – | ¥9.6M | – | – |
| Sakaide City | – | – | ¥9.3M | ¥28k/m² | – |
| Kan-onji City | – | – | ¥7.3M | ¥8k/m² | – |
| Sanuki City | – | – | ¥4.5M | ¥9k/m² | – |
| Higashikagawa City | – | – | ¥4.8M | – | – |
| Mitoyo City | – | – | ¥7.0M | ¥9k/m² | – |
Prices near train stations in Kagawa
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 |
|---|---|---|---|---|---|
| Marugame (丸亀) | ¥14.0M | ¥170k/m² | ¥17.0M | 18 | 252 |
| Kan onji(Kagawa) (観音寺(香川)) | – | – | ¥8.0M | 16 | 108 |
| Ota(Takamatsu) (太田(高松)) | ¥15.0M | ¥213k/m² | ¥33.0M | 14 | 103 |
| Sakaide (坂出) | – | – | ¥13.0M | 15 | 100 |
| Busshozan (仏生山) | – | – | ¥27.5M | 16 | 95 |
| Takamatsu(Kagawa) (高松(香川)) | ¥19.0M | ¥245k/m² | ¥18.0M | 10 | 73 |
| Kukodori (空港通り) | – | – | ¥9.3M | 11 | 72 |
| Sanjo(Takamatsu) (三条(高松)) | ¥21.5M | ¥275k/m² | ¥20.0M | 10 | 68 |
| Showacho(Kagawa) (昭和町(香川)) | ¥8.3M | ¥129k/m² | ¥28.0M | 9 | 65 |
| Enza (円座) | – | – | ¥20.0M | 14 | 64 |
| Kawaramachi(Kagawa) (瓦町) | ¥19.0M | ¥273k/m² | ¥25.0M | 6 | 63 |
| Mizuta (水田) | – | – | ¥20.0M | 11 | 59 |
| Fuseishi (伏石) | ¥15.0M | ¥231k/m² | ¥25.5M | 13 | 57 |
| Katamoto (潟元) | ¥7.5M | ¥108k/m² | ¥15.5M | 13 | 56 |
| Kozai (香西) | – | – | ¥6.2M | 16 | 52 |
Used condo prices by layout in Kagawa
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥15.0M | 70 m² | 216 |
| 2LDK | ¥15.5M | 65 m² | 72 |
| 4LDK | ¥22.0M | 85 m² | 49 |
| 1K | ¥1.9M | 20 m² | 28 |
| 1LDK | ¥7.2M | 50 m² | 14 |
| 1DK | ¥2.8M | 30 m² | 10 |
How much does an apartment cost in Kagawa?
The median used condo (mansion) in Kagawa sold for ¥11.0M in 2025, about ¥172k/m², based on 122 recorded sales.
How much does a house cost in Kagawa?
The median house sale, including the land, was ¥13.0M in 2025 across 835 sales.
Are property prices in Kagawa going up?
Over the five years to 2025, condo prices per m² changed +9.5% and residential land prices changed -11.1%.
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.