Nara Housing Market 2026: Osaka's Bedroom Towns Are Ageing
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥19.0M
- ¥262k/m² · +13.5% vs 2024
- Median house price (land + building)
- ¥19.0M
- +12.5% vs 2024
- Residential land per m² (sales)
- ¥61k/m²
- +13.0% over 5 years
- Transactions in 2025
- 2,415
- #22 of 47 areas in Japan by price per m²
Nara City is rising, the suburbs are not
Nara's condo prices per m² accelerated to about 5% a year over the last five years. Nara City is up about 50% and Yamatotakada has roughly doubled on small numbers of sales, while Ikoma and Kashihara have barely moved. On the government's fixed benchmark sites, residential land has slipped slightly over five years and is about two-thirds below its 1991 peak.
Ageing new towns
Much of northern Nara was built as hilltop "new towns" for Osaka commuters in the 1970s to 1990s. Those residents are ageing: Nara's population fell 4.2% between 2020 and 2025 and, unusually, households did not grow at all. 7.7% of homes are abandoned. Older condos in these areas trade at a 54% discount to 1980s and 90s buildings, one of the biggest gaps in Japan, and houses take about 40 years to bottom out in price.
A family market
About 80% of condo sales are three-bedroom family homes. A median condo costs about 30 years of the local median rent.
Hazards
Nara's earthquake risk is moderate to high (about 48% chance of 6-lower shaking in 30 years). Hillside suburbs bring landslide exposure: about 5% of benchmark sites are in landslide warning areas, roughly double the national rate. Historic districts in Nara City also have preservation rules that limit building.
Living in Nara: people, homes and risks
- Population 2025
- 1,269,180
- -4.2% since 2020
- Japan: -2.5%
- Net moves in 2025
- -1,070
- -0.84 per 1,000 residents
- Vacant homes (2023)
- 14.6%
- 7.7% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥53k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 47.5%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Official land price 2026
- ¥66k/m²
- -0.1% in a year · -1.5% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 32.5%
- of 385 benchmark sites in a worst-case flood zone (2.3% 3 m or deeper)
- Japan: 42.6%
- Landslide exposure
- 4.9%
- of 385 benchmark sites in a landslide warning area
- Japan: 2.6%
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); recorded crime: Tokyo Metropolitan Police Department (Tokyo only). Earthquake probability is measured at the municipal center.
Example sales in Nara
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
¥9.0M
¥86k/m²
- Tezukayama, Nara City
- Higashi Ikoma · 29 min walk
- 3LDK · 105 m²
- Built 1991 (35 yrs) · RC
¥18.0M
¥189k/m²
- Ayameikeminami, Nara City
- Ayameike · 10 min walk
- 4LDK · 95 m²
- Built 1992 (34 yrs) · RC
¥33.0M
¥440k/m²
- Naizencho, Kashihara City
- Yamato Yagi · 8 min walk
- 3LDK · 75 m²
- Built 2005 (21 yrs) · RC
House
¥4.5M
¥53k/m²
- Yanagimotocho, Tenri City
- Yanagimoto · 7 min walk
- Land 110 m² · floor 85 m²
- Built 1988 (38 yrs) · Wood
¥17.0M
¥155k/m²
- Nishitomigaoka, Nara City
- Gakuemmae(Nara)
- Land 240 m² · floor 110 m²
- Built 1970 (56 yrs) · Light steel
¥35.0M
¥47k/m²
- Oaza Minami, Koryo Town, Kitakatsuragi County
- Hashio · 7 min walk
- Land 750 m² · floor 740 m²
- Built 1976 (50 yrs) · Steel
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥11.0M | ¥26.0M |
| 2008 | ¥12.0M | ¥24.0M |
| 2009 | ¥11.0M | ¥23.0M |
| 2010 | ¥10.0M | ¥22.0M |
| 2011 | ¥11.0M | ¥20.0M |
| 2012 | ¥11.0M | ¥21.0M |
| 2013 | ¥12.0M | ¥21.0M |
| 2014 | ¥12.0M | ¥20.0M |
| 2015 | ¥12.0M | ¥20.0M |
| 2016 | ¥12.0M | ¥20.0M |
| 2017 | ¥14.0M | ¥20.0M |
| 2018 | ¥12.0M | ¥20.0M |
| 2019 | ¥12.0M | ¥20.0M |
| 2020 | ¥13.0M | ¥19.0M |
| 2021 | ¥15.0M | ¥18.0M |
| 2022 | ¥15.0M | ¥19.0M |
| 2023 | ¥16.0M | ¥19.0M |
| 2024 | ¥16.0M | ¥17.0M |
| 2025 | ¥19.0M | ¥19.0M |
| 2026 (partial) | ¥17.0M | ¥13.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥167k/m² | ¥216k/m² | ¥67k/m² |
| 2008 | ¥171k/m² | ¥200k/m² | ¥66k/m² |
| 2009 | ¥157k/m² | ¥190k/m² | ¥62k/m² |
| 2010 | ¥151k/m² | ¥188k/m² | ¥62k/m² |
| 2011 | ¥157k/m² | ¥178k/m² | ¥61k/m² |
| 2012 | ¥166k/m² | ¥180k/m² | ¥57k/m² |
| 2013 | ¥169k/m² | ¥174k/m² | ¥59k/m² |
| 2014 | ¥173k/m² | ¥173k/m² | ¥53k/m² |
| 2015 | ¥185k/m² | ¥157k/m² | ¥57k/m² |
| 2016 | ¥173k/m² | ¥167k/m² | ¥57k/m² |
| 2017 | ¥200k/m² | ¥162k/m² | ¥56k/m² |
| 2018 | ¥185k/m² | ¥150k/m² | ¥55k/m² |
| 2019 | ¥187k/m² | ¥160k/m² | ¥55k/m² |
| 2020 | ¥200k/m² | ¥156k/m² | ¥54k/m² |
| 2021 | ¥215k/m² | ¥140k/m² | ¥54k/m² |
| 2022 | ¥216k/m² | ¥150k/m² | ¥57k/m² |
| 2023 | ¥235k/m² | ¥153k/m² | ¥54k/m² |
| 2024 | ¥231k/m² | ¥133k/m² | ¥61k/m² |
| 2025 | ¥262k/m² | ¥150k/m² | ¥61k/m² |
| 2026 (partial) | ¥243k/m² | ¥104k/m² | ¥64k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥320k/m² |
| 1 | ¥557k/m² | ¥292k/m² |
| 2 | ¥540k/m² | ¥345k/m² |
| 3 | – | ¥290k/m² |
| 4 | ¥504k/m² | ¥292k/m² |
| 5 | ¥517k/m² | ¥276k/m² |
| 6 | ¥506k/m² | ¥277k/m² |
| 7 | ¥519k/m² | ¥248k/m² |
| 8 | ¥484k/m² | ¥271k/m² |
| 9 | ¥494k/m² | ¥257k/m² |
| 10 | ¥529k/m² | ¥213k/m² |
| 11 | ¥550k/m² | ¥238k/m² |
| 12 | ¥376k/m² | ¥250k/m² |
| 13 | ¥292k/m² | ¥200k/m² |
| 14 | ¥373k/m² | ¥227k/m² |
| 15 | ¥333k/m² | ¥205k/m² |
| 16 | ¥323k/m² | ¥191k/m² |
| 17 | ¥333k/m² | ¥190k/m² |
| 18 | ¥360k/m² | ¥194k/m² |
| 19 | ¥318k/m² | ¥171k/m² |
| 20 | ¥278k/m² | ¥153k/m² |
| 21 | ¥293k/m² | ¥170k/m² |
| 22 | ¥288k/m² | ¥165k/m² |
| 23 | ¥292k/m² | ¥152k/m² |
| 24 | ¥231k/m² | ¥138k/m² |
| 25 | ¥214k/m² | ¥124k/m² |
| 26 | ¥200k/m² | ¥135k/m² |
| 27 | ¥172k/m² | ¥108k/m² |
| 28 | ¥187k/m² | ¥120k/m² |
| 29 | ¥215k/m² | ¥98k/m² |
| 30 | ¥143k/m² | ¥104k/m² |
| 31 | ¥129k/m² | ¥105k/m² |
| 32 | ¥120k/m² | ¥108k/m² |
| 33 | ¥146k/m² | ¥100k/m² |
| 34 | ¥143k/m² | ¥102k/m² |
| 35 | ¥144k/m² | ¥105k/m² |
| 36 | ¥200k/m² | ¥91k/m² |
| 37 | ¥131k/m² | ¥96k/m² |
| 38 | ¥148k/m² | ¥90k/m² |
| 39 | ¥161k/m² | ¥78k/m² |
| 40 | ¥161k/m² | ¥91k/m² |
| 41 | ¥194k/m² | ¥71k/m² |
| 42 | ¥146k/m² | ¥57k/m² |
| 43 | ¥91k/m² | ¥73k/m² |
| 44 | ¥150k/m² | ¥64k/m² |
| 45 | ¥108k/m² | ¥68k/m² |
| 46 | ¥74k/m² | ¥62k/m² |
| 47 | ¥92k/m² | ¥66k/m² |
| 48 | – | ¥81k/m² |
| 49 | – | ¥76k/m² |
| 50 | ¥91k/m² | ¥63k/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 | – | ¥160k/m² | ¥288k/m² | – |
| 2008 | ¥95k/m² | ¥148k/m² | ¥294k/m² | – |
| 2009 | ¥85k/m² | ¥133k/m² | ¥271k/m² | – |
| 2010 | ¥89k/m² | ¥132k/m² | ¥288k/m² | – |
| 2011 | ¥78k/m² | ¥138k/m² | ¥291k/m² | – |
| 2012 | ¥77k/m² | ¥138k/m² | ¥272k/m² | – |
| 2013 | ¥75k/m² | ¥142k/m² | ¥267k/m² | – |
| 2014 | ¥67k/m² | ¥149k/m² | ¥271k/m² | ¥593k/m² |
| 2015 | ¥93k/m² | ¥141k/m² | ¥282k/m² | ¥456k/m² |
| 2016 | ¥89k/m² | ¥150k/m² | ¥280k/m² | – |
| 2017 | ¥74k/m² | ¥145k/m² | ¥278k/m² | ¥478k/m² |
| 2018 | ¥94k/m² | ¥141k/m² | ¥271k/m² | ¥433k/m² |
| 2019 | ¥91k/m² | ¥147k/m² | ¥278k/m² | ¥378k/m² |
| 2020 | ¥95k/m² | ¥160k/m² | ¥264k/m² | ¥453k/m² |
| 2021 | ¥98k/m² | ¥167k/m² | ¥292k/m² | ¥488k/m² |
| 2022 | ¥80k/m² | ¥185k/m² | ¥305k/m² | ¥514k/m² |
| 2023 | ¥106k/m² | ¥186k/m² | ¥339k/m² | ¥479k/m² |
| 2024 | ¥109k/m² | ¥183k/m² | ¥327k/m² | ¥576k/m² |
| 2025 | ¥92k/m² | ¥200k/m² | ¥333k/m² | ¥543k/m² |
| 2026 (partial) | – | ¥200k/m² | ¥370k/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 | ¥133k/m² | ¥153k/m² | ¥310k/m² | – |
| 2008 | ¥113k/m² | ¥137k/m² | ¥305k/m² | – |
| 2009 | ¥98k/m² | ¥131k/m² | ¥294k/m² | – |
| 2010 | ¥104k/m² | ¥130k/m² | ¥283k/m² | ¥340k/m² |
| 2011 | ¥116k/m² | ¥130k/m² | ¥229k/m² | ¥287k/m² |
| 2012 | ¥107k/m² | ¥119k/m² | ¥205k/m² | ¥289k/m² |
| 2013 | ¥88k/m² | ¥124k/m² | ¥208k/m² | ¥290k/m² |
| 2014 | ¥93k/m² | ¥110k/m² | ¥200k/m² | ¥269k/m² |
| 2015 | ¥86k/m² | ¥112k/m² | ¥183k/m² | ¥284k/m² |
| 2016 | ¥91k/m² | ¥99k/m² | ¥200k/m² | ¥286k/m² |
| 2017 | ¥77k/m² | ¥109k/m² | ¥183k/m² | ¥270k/m² |
| 2018 | ¥78k/m² | ¥93k/m² | ¥180k/m² | ¥276k/m² |
| 2019 | ¥73k/m² | ¥100k/m² | ¥187k/m² | ¥290k/m² |
| 2020 | ¥62k/m² | ¥91k/m² | ¥190k/m² | ¥270k/m² |
| 2021 | ¥66k/m² | ¥96k/m² | ¥171k/m² | ¥274k/m² |
| 2022 | ¥79k/m² | ¥109k/m² | ¥180k/m² | ¥259k/m² |
| 2023 | ¥68k/m² | ¥97k/m² | ¥185k/m² | ¥276k/m² |
| 2024 | ¥66k/m² | ¥103k/m² | ¥180k/m² | ¥248k/m² |
| 2025 | ¥63k/m² | ¥100k/m² | ¥200k/m² | ¥256k/m² |
| 2026 (partial) | ¥50k/m² | ¥83k/m² | ¥190k/m² | ¥259k/m² |
Prices by area in Nara
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 |
|---|---|---|---|---|---|
| Nara City | ¥300k/m² | ¥21.0M | ¥27.0M | ¥97k/m² | +50.0% |
| Ikoma City | ¥294k/m² | ¥19.0M | ¥27.0M | ¥84k/m² | +8.4% |
| Kashiba City | – | – | ¥34.0M | ¥100k/m² | – |
| Yamatotakada City | ¥200k/m² | ¥14.0M | ¥8.0M | ¥54k/m² | +105.3% |
| Kashihara City | ¥189k/m² | ¥14.5M | ¥24.0M | ¥84k/m² | -5.7% |
| Katsuragi City | – | – | ¥24.0M | ¥71k/m² | – |
| Tawaramoto Town, Shiki County | – | – | ¥18.0M | ¥60k/m² | – |
| Yamatokoriyama City | – | – | ¥16.0M | ¥62k/m² | – |
| Heguri Town, Ikoma County | – | – | ¥14.0M | – | – |
| Tenri City | – | – | ¥23.0M | ¥35k/m² | – |
| Ikaruga Town, Ikoma County | – | – | ¥15.0M | ¥64k/m² | – |
| Sango Town, Ikoma County | – | – | ¥10.0M | – | – |
| Sakurai City | – | – | ¥18.5M | ¥45k/m² | – |
| Kanmaki Town, Kitakatsuragi County | – | – | ¥8.3M | – | – |
| Koryo Town, Kitakatsuragi County | – | – | – | ¥57k/m² | – |
Prices near train stations in Nara
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 |
|---|---|---|---|---|---|
| Ikoma (生駒) | ¥17.0M | ¥255k/m² | ¥20.5M | 11 | 243 |
| Gakuemmae(Nara) (学園前(奈良)) | ¥18.0M | ¥230k/m² | ¥33.0M | 15 | 243 |
| Nara (奈良) | ¥19.0M | ¥320k/m² | ¥22.0M | 8 | 208 |
| Kintetsu Nara (近鉄奈良) | ¥21.0M | ¥296k/m² | ¥20.0M | 14 | 199 |
| Tomio (富雄) | ¥18.0M | ¥249k/m² | ¥27.0M | 11 | 167 |
| Shin Omiya (新大宮) | ¥14.0M | ¥231k/m² | ¥31.0M | 8 | 143 |
| Yamato Saidaiji (大和西大寺) | ¥30.5M | ¥454k/m² | ¥29.0M | 12 | 141 |
| Gakken Nara Tomigaoka (学研奈良登美ケ丘) | ¥35.0M | ¥431k/m² | ¥41.5M | 15 | 129 |
| Oji(Nara) (王寺) | ¥21.0M | ¥304k/m² | ¥12.0M | 13 | 116 |
| Ayameike (菖蒲池) | ¥26.0M | ¥312k/m² | ¥29.0M | 13 | 111 |
| Yamato Koizumi (大和小泉) | – | – | ¥12.5M | 15 | 111 |
| Higashi Ikoma (東生駒) | ¥17.0M | ¥246k/m² | ¥26.0M | 11 | 108 |
| Sakurai(Nara) (桜井(奈良)) | ¥9.2M | ¥141k/m² | ¥20.0M | 14 | 106 |
| Haibara (榛原) | – | – | ¥4.3M | 6 | 98 |
| Goido (五位堂) | ¥23.5M | ¥310k/m² | ¥29.0M | 15 | 97 |
Used condo prices by layout in Nara
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥17.0M | 70 m² | 696 |
| 2LDK | ¥15.0M | 60 m² | 162 |
| 4LDK | ¥22.0M | 85 m² | 158 |
| 1LDK | ¥15.5M | 47.5 m² | 22 |
| 2DK | ¥14.0M | 55 m² | 12 |
| 1DK | ¥11.0M | 35 m² | 10 |
How much does an apartment cost in Nara?
The median used condo (mansion) in Nara sold for ¥19.0M in 2025, about ¥262k/m², based on 364 recorded sales.
How much does a house cost in Nara?
The median house sale, including the land, was ¥19.0M in 2025 across 1261 sales.
Are property prices in Nara going up?
Over the five years to 2025, condo prices per m² changed +31.0% and residential land prices changed +13.0%.
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.