Naha Housing Market 2025: Expensive Compared With Rents, and Cooling
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥30.0M
- ¥441k/m²
- Median house price (land + building)
- ¥60.0M
- Residential land per m² (sales)
- ¥170k/m²
- +13.3% over 5 years
- Transactions in 2025
- 309
- #2 of 13 areas in Okinawa by price per m²
A boom that is slowing
Naha is the capital of Okinawa. Condo prices per m² rose about 8% a year in the late 2010s, but only about 3.9% a year over the past five years. The median condo sold for about ¥30M in 2025, down from ¥33.5M in 2024. Condos cost about ¥0.44M per m², about the Okinawa average.
Homes cost a lot compared with rents
A median condo costs about 47 years of median rent, very high for a regional city. Okinawa as a whole is even higher at about 49 years. Demand from buyers outside Okinawa, including second-home buyers, has pushed prices above what local rents support.
A family market
The most traded home is a 70 m² 3LDK at about ¥34M, and about 60% of condo sales are family-sized. Studios are rare. Omoromachi, the new town north of the centre, is the priciest busy area at about ¥0.74M per m²; Asato and the Prefectural Office area are much cheaper.
People are moving out
Naha's population fell 2.1% between 2020 and 2025, while Okinawa Prefecture grew slightly. In 2025 more people moved out to the rest of Japan than moved in. Many families are likely moving to cheaper towns nearby.
Land and risks
Benchmark residential land rose 5.2% in the past year and 61% over ten years, and is only about 2% below its 1991 level. About 30% of benchmark sites are in a shallow flood zone, the most of Okinawa's cities, and about 15% in a tsunami zone. Earthquake probability is moderate (about 21%). Typhoons are the more common natural hazard.
Living in Naha City: people, homes and risks
- Population 2025
- 311,073
- -2.1% since 2020
- Okinawa: +0.1%
- Net moves in 2025
- -1,096
- -3.52 per 1,000 residents
- Okinawa: -0.38
- Vacant homes (2023)
- 9.7%
- 2.3% empty and not for rent or sale
- Okinawa: 9.3%
- Median rent (2023)
- ¥53k
- per month, all rented homes
- Okinawa: ¥51k
- Strong earthquake risk
- 20.8%
- chance of shaking of intensity 6-lower or more within 30 years
- Okinawa: 22.2%
- Official land price 2026
- ¥189k/m²
- +5.1% in a year · +20.0% in 5 years
- Okinawa: ¥120k/m²
- Flood exposure
- 29.2%
- of 48 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Okinawa: 7.7%
- Tsunami exposure
- 14.6%
- of 48 benchmark sites in a tsunami inundation zone
- Okinawa: 19.8%
- Landslide exposure
- 0.0%
- of 48 benchmark sites in a landslide warning area
- Okinawa: 0.5%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Asahibashi Station East, Naha · 11 ha · designated 2003
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 Naha City
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
¥17.0M
¥283k/m²
- Tomari
- Miebashi · 6 min walk
- 3DK · 60 m²
- Built 1984 (41 yrs) · RC
¥33.0M
¥440k/m²
- Aza Kokuba
- 3LDK · 75 m²
- Built 2002 (23 yrs) · RC
¥56.0M
¥622k/m²
- Omoromachi
- Omoromachi · 9 min walk
- 4LDK · 90 m²
- Built 2003 (22 yrs) · RC
House
¥33.0M
¥660k/m²
- Shuritonokuracho
- Land 195 m² · floor 50 m²
- Built 1966 (59 yrs)
¥56.0M
¥533k/m²
- Yogi
- Land 95 m² · floor 105 m²
- Built 2025 (0 yrs) · RC
¥130M
¥520k/m²
- Ameku
- Land 230 m² · floor 250 m²
- Built 2014 (11 yrs) · RC
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥10.5M | ¥34.5M |
| 2008 | ¥11.5M | ¥35.0M |
| 2009 | ¥17.5M | ¥33.5M |
| 2010 | ¥17.0M | ¥35.0M |
| 2011 | ¥15.0M | ¥33.0M |
| 2012 | ¥13.0M | ¥33.5M |
| 2013 | ¥16.0M | ¥38.0M |
| 2014 | ¥15.5M | ¥35.0M |
| 2015 | ¥16.5M | ¥37.0M |
| 2016 | ¥20.0M | ¥45.5M |
| 2017 | ¥23.0M | ¥41.5M |
| 2018 | ¥26.0M | ¥55.0M |
| 2019 | ¥24.0M | ¥48.0M |
| 2020 | ¥30.0M | ¥41.5M |
| 2021 | ¥29.0M | ¥44.0M |
| 2022 | ¥30.0M | ¥45.0M |
| 2023 | ¥29.0M | ¥55.0M |
| 2024 | ¥33.5M | ¥56.5M |
| 2025 | ¥30.0M | ¥60.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥166k/m² | ¥228k/m² | ¥130k/m² |
| 2008 | ¥169k/m² | ¥207k/m² | ¥120k/m² |
| 2009 | ¥273k/m² | ¥205k/m² | ¥120k/m² |
| 2010 | ¥246k/m² | ¥184k/m² | ¥120k/m² |
| 2011 | ¥221k/m² | ¥181k/m² | ¥110k/m² |
| 2012 | ¥213k/m² | ¥212k/m² | ¥120k/m² |
| 2013 | ¥229k/m² | ¥224k/m² | ¥130k/m² |
| 2014 | ¥249k/m² | ¥203k/m² | ¥130k/m² |
| 2015 | ¥272k/m² | ¥210k/m² | ¥130k/m² |
| 2016 | ¥300k/m² | ¥228k/m² | ¥170k/m² |
| 2017 | ¥343k/m² | ¥250k/m² | ¥180k/m² |
| 2018 | ¥385k/m² | ¥256k/m² | ¥140k/m² |
| 2019 | ¥356k/m² | ¥282k/m² | ¥160k/m² |
| 2020 | ¥418k/m² | ¥284k/m² | ¥150k/m² |
| 2021 | ¥400k/m² | ¥333k/m² | ¥170k/m² |
| 2022 | ¥417k/m² | ¥311k/m² | ¥160k/m² |
| 2023 | ¥446k/m² | ¥353k/m² | ¥200k/m² |
| 2024 | ¥497k/m² | ¥320k/m² | ¥205k/m² |
| 2025 | ¥441k/m² | ¥333k/m² | ¥170k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥463k/m² |
| 1 | ¥614k/m² | ¥451k/m² |
| 2 | ¥695k/m² | – |
| 3 | ¥769k/m² | – |
| 4 | ¥717k/m² | – |
| 5 | ¥631k/m² | – |
| 6 | ¥600k/m² | – |
| 7 | ¥559k/m² | – |
| 8 | ¥607k/m² | – |
| 9 | ¥677k/m² | – |
| 10 | ¥580k/m² | – |
| 11 | ¥654k/m² | – |
| 14 | ¥475k/m² | – |
| 15 | ¥486k/m² | – |
| 16 | ¥450k/m² | – |
| 18 | ¥500k/m² | – |
| 20 | ¥448k/m² | – |
| 21 | ¥387k/m² | – |
| 22 | ¥411k/m² | – |
| 23 | ¥443k/m² | – |
| 24 | ¥440k/m² | – |
| 25 | ¥408k/m² | ¥309k/m² |
| 27 | ¥371k/m² | – |
| 28 | ¥323k/m² | – |
| 30 | ¥340k/m² | – |
| 31 | ¥312k/m² | – |
| 32 | ¥300k/m² | – |
| 33 | ¥300k/m² | – |
| 34 | ¥334k/m² | – |
| 35 | ¥333k/m² | – |
| 36 | – | ¥209k/m² |
| 37 | ¥252k/m² | – |
| 38 | ¥257k/m² | – |
| 40 | ¥310k/m² | – |
| 48 | – | ¥168k/m² |
| 49 | – | ¥208k/m² |
| 50 | – | ¥185k/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 | 1981-2000 | 2001-2010 | 2011-2020 |
|---|---|---|---|
| 2007 | ¥161k/m² | – | – |
| 2008 | ¥154k/m² | – | – |
| 2009 | ¥171k/m² | ¥393k/m² | – |
| 2010 | ¥168k/m² | ¥400k/m² | – |
| 2011 | ¥200k/m² | ¥400k/m² | – |
| 2012 | ¥188k/m² | – | – |
| 2013 | ¥200k/m² | ¥329k/m² | – |
| 2014 | ¥219k/m² | ¥371k/m² | – |
| 2015 | ¥228k/m² | ¥369k/m² | – |
| 2016 | ¥246k/m² | ¥450k/m² | – |
| 2017 | ¥271k/m² | ¥421k/m² | ¥515k/m² |
| 2018 | ¥286k/m² | ¥429k/m² | ¥550k/m² |
| 2019 | ¥285k/m² | ¥462k/m² | ¥600k/m² |
| 2020 | ¥300k/m² | ¥431k/m² | ¥559k/m² |
| 2021 | ¥307k/m² | ¥462k/m² | ¥600k/m² |
| 2022 | ¥310k/m² | ¥478k/m² | ¥617k/m² |
| 2023 | ¥334k/m² | ¥538k/m² | ¥573k/m² |
| 2024 | ¥343k/m² | ¥507k/m² | ¥631k/m² |
| 2025 | ¥352k/m² | ¥462k/m² | ¥662k/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 | 2011-2020 |
|---|---|---|---|
| 2007 | – | ¥228k/m² | – |
| 2008 | ¥131k/m² | ¥229k/m² | – |
| 2009 | ¥179k/m² | ¥200k/m² | – |
| 2010 | ¥176k/m² | ¥187k/m² | – |
| 2011 | – | ¥181k/m² | – |
| 2012 | ¥201k/m² | ¥213k/m² | – |
| 2013 | – | ¥180k/m² | – |
| 2014 | – | ¥213k/m² | – |
| 2015 | ¥169k/m² | ¥225k/m² | – |
| 2016 | ¥144k/m² | ¥228k/m² | – |
| 2017 | ¥200k/m² | ¥223k/m² | – |
| 2018 | ¥211k/m² | ¥277k/m² | – |
| 2019 | ¥247k/m² | ¥200k/m² | – |
| 2020 | – | – | ¥451k/m² |
| 2021 | – | ¥294k/m² | – |
| 2022 | – | ¥249k/m² | – |
| 2024 | – | ¥271k/m² | – |
| 2025 | – | ¥267k/m² | – |
Prices near train stations in Naha City
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 |
|---|---|---|---|---|---|
| Asato (安里) | ¥18.0M | ¥308k/m² | ¥46.0M | 11 | 64 |
| Miebashi (美栄橋) | ¥29.0M | ¥443k/m² | ¥88.0M | 7 | 63 |
| Omoromachi (おもろまち) | ¥51.5M | ¥735k/m² | – | 8 | 54 |
| Asahibashi (旭橋) | ¥32.0M | ¥480k/m² | ¥290M | 9 | 43 |
| Tsubogawa (壺川) | ¥37.0M | ¥601k/m² | ¥51.5M | 8 | 40 |
| Akamine (赤嶺) | ¥27.0M | ¥418k/m² | – | 10 | 34 |
| Makishi (牧志) | ¥37.5M | ¥522k/m² | ¥170M | 4 | 34 |
| Shuri (首里) | ¥32.0M | ¥422k/m² | ¥35.0M | 9 | 27 |
| Oroku (小禄) | ¥24.0M | ¥1.0M/m² | – | 6 | 25 |
| Prefectural Office(Okinawa) (県庁前(沖縄)) | ¥24.5M | ¥361k/m² | ¥68.5M | 8 | 24 |
| Onoyama Park (奥武山公園) | ¥32.0M | ¥496k/m² | – | 14 | 23 |
| Furujima (古島) | – | – | ¥100M | 8 | 18 |
| Gibo (儀保) | ¥22.0M | ¥331k/m² | – | 5 | 18 |
| Kyozuka (経塚) | – | – | – | 10 | 10 |
| Naha City Hospital(Okinawa) (市立病院前(沖縄)) | – | – | – | 6 | 10 |
Used condo prices by layout in Naha City
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥34.0M | 70 m² | 166 |
| 2LDK | ¥33.5M | 65 m² | 80 |
| 4LDK | ¥35.0M | 80 m² | 36 |
| 1LDK | ¥23.0M | 45 m² | 17 |
| 2DK | ¥15.5M | 52.5 m² | 16 |
| 3DK | ¥17.0M | 55 m² | 12 |
How much does an apartment cost in Naha City?
The median used condo (mansion) in Naha City sold for ¥30.0M in 2025, about ¥441k/m², based on 122 recorded sales.
How much does a house cost in Naha City?
The median house sale, including the land, was ¥60.0M in 2025 across 103 sales.
Are property prices in Naha City going up?
Over the five years to 2025, condo prices per m² changed +5.6% and residential land prices changed +13.3%.
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.