Shimane Housing Market 2025: A Buyer's Market of Old Houses
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥18.5M
- ¥233k/m²
- Median house price (land + building)
- ¥9.0M
- -3.2% vs 2024
- Residential land per m² (sales)
- ¥20k/m²
- -23.1% over 5 years
- Transactions in 2025
- 1,107
- #32 of 47 areas in Japan by price per m²
Very few condos
Shimane is a house market: condo sales are rare outside Matsue, and the median house sold is more than 40 years old. House prices per m² have been falling over the last five years.
High vacancy
Shimane's population fell 6.2% between 2020 and 2025, and households fell too. 11.3% of homes are abandoned, about twice the national rate. That means very low prices and room to negotiate, but limited resale demand.
Land: closer to its 1991 level than most
On the government's fixed benchmark sites, residential land fell slightly over five years, but it is only 22% below its 1991 level, compared with 46% nationally, because Shimane never had much of a bubble.
Houses vs condos
Across the prefecture, a m² of house costs only about a quarter of a m² of condo. Older houses (pre-1981) sell at a 46% discount to 1980s and 90s ones.
Hazards
Shimane has one of the lowest earthquake probabilities on the national model (about 6% for 6-lower shaking in 30 years). About 5% of benchmark sites are in landslide warning areas, and around half are in worst-case flood zones, mostly shallow, around Lake Shinji and the Hii River.
Living in Shimane: people, homes and risks
- Population 2025
- 629,460
- -6.2% since 2020
- Japan: -2.5%
- Net moves in 2025
- -1,721
- -2.73 per 1,000 residents
- Vacant homes (2023)
- 17.1%
- 11.3% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥45k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 6.1%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Official land price 2026
- ¥28k/m²
- -0.4% in a year · -1.5% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 51.5%
- of 132 benchmark sites in a worst-case flood zone (6.8% 3 m or deeper)
- Japan: 42.6%
- Tsunami exposure
- 0.8%
- of 132 benchmark sites in a tsunami inundation zone
- Japan: 7.8%
- Landslide exposure
- 4.5%
- of 132 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). Earthquake probability is measured at the municipal center.
Example sales in Shimane
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
¥14.0M
¥187k/m²
- Nishikawatsucho, Matsue City
- Matsue
- 3LDK · 75 m²
- Built 2001 (25 yrs) · RC
¥19.0M
¥292k/m²
- Nishikawatsucho, Matsue City
- Matsue · 21 min walk
- 3LDK · 65 m²
- Built 2000 (26 yrs) · RC
¥26.0M
¥325k/m²
- Higashiasahimachi, Matsue City
- Matsue · 6 min walk
- 2LDK · 80 m²
- Built 2002 (24 yrs) · SRC
House
¥2.6M
¥24k/m²
- Oaza Minami, Ama Town, Oki County
- Land 300 m² · floor 110 m²
- Built 1966 (60 yrs) · Wood
¥8.8M
¥59k/m²
- Kasagaracho, Hamada City
- Nishi Hamada · 25 min walk
- Land 250 m² · floor 150 m²
- Built 1992 (34 yrs) · Wood
¥30.0M
¥58k/m²
- Kashimachosadamiyauchi, Matsue City
- Matsue
- Land 1500 m² · floor 520 m²
- Built 2001 (24 yrs) · Steel
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | – | ¥13.0M |
| 2008 | ¥14.0M | ¥12.0M |
| 2009 | ¥14.5M | ¥11.0M |
| 2010 | ¥16.0M | ¥10.0M |
| 2011 | – | ¥12.0M |
| 2012 | – | ¥8.5M |
| 2013 | ¥16.5M | ¥10.0M |
| 2014 | ¥15.0M | ¥9.6M |
| 2015 | ¥16.0M | ¥9.8M |
| 2016 | – | ¥9.2M |
| 2017 | ¥19.0M | ¥8.1M |
| 2018 | ¥16.0M | ¥9.9M |
| 2019 | – | ¥8.5M |
| 2020 | ¥17.5M | ¥11.0M |
| 2021 | ¥20.0M | ¥11.0M |
| 2022 | ¥18.0M | ¥9.0M |
| 2023 | ¥22.0M | ¥10.0M |
| 2024 | ¥20.5M | ¥9.9M |
| 2025 | ¥18.5M | ¥9.0M |
| 2026 (partial) | – | ¥8.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | – | ¥94k/m² | ¥30k/m² |
| 2008 | ¥200k/m² | ¥86k/m² | ¥27k/m² |
| 2009 | ¥200k/m² | ¥78k/m² | ¥25k/m² |
| 2010 | ¥230k/m² | ¥77k/m² | ¥25k/m² |
| 2011 | – | ¥79k/m² | ¥24k/m² |
| 2012 | – | ¥70k/m² | ¥25k/m² |
| 2013 | ¥227k/m² | ¥81k/m² | ¥24k/m² |
| 2014 | ¥214k/m² | ¥70k/m² | ¥22k/m² |
| 2015 | ¥227k/m² | ¥72k/m² | ¥23k/m² |
| 2016 | – | ¥62k/m² | ¥22k/m² |
| 2017 | ¥247k/m² | ¥63k/m² | ¥24k/m² |
| 2018 | ¥243k/m² | ¥73k/m² | ¥24k/m² |
| 2019 | – | ¥71k/m² | ¥24k/m² |
| 2020 | ¥232k/m² | ¥75k/m² | ¥26k/m² |
| 2021 | ¥267k/m² | ¥70k/m² | ¥22k/m² |
| 2022 | ¥252k/m² | ¥67k/m² | ¥24k/m² |
| 2023 | ¥293k/m² | ¥71k/m² | ¥23k/m² |
| 2024 | ¥269k/m² | ¥66k/m² | ¥22k/m² |
| 2025 | ¥233k/m² | ¥64k/m² | ¥20k/m² |
| 2026 (partial) | – | ¥65k/m² | ¥21k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥308k/m² |
| 1 | – | ¥320k/m² |
| 2 | – | ¥283k/m² |
| 4 | – | ¥231k/m² |
| 7 | – | ¥214k/m² |
| 8 | – | ¥220k/m² |
| 12 | – | ¥179k/m² |
| 15 | – | ¥140k/m² |
| 16 | – | ¥147k/m² |
| 17 | – | ¥129k/m² |
| 18 | – | ¥140k/m² |
| 19 | – | ¥135k/m² |
| 20 | ¥240k/m² | ¥109k/m² |
| 21 | ¥229k/m² | ¥89k/m² |
| 22 | – | ¥96k/m² |
| 23 | – | ¥128k/m² |
| 24 | – | ¥109k/m² |
| 25 | – | ¥80k/m² |
| 26 | – | ¥81k/m² |
| 27 | – | ¥103k/m² |
| 28 | – | ¥89k/m² |
| 29 | – | ¥97k/m² |
| 30 | – | ¥85k/m² |
| 31 | – | ¥100k/m² |
| 32 | – | ¥45k/m² |
| 33 | – | ¥67k/m² |
| 34 | – | ¥85k/m² |
| 35 | – | ¥63k/m² |
| 36 | – | ¥73k/m² |
| 37 | – | ¥77k/m² |
| 38 | – | ¥63k/m² |
| 39 | – | ¥39k/m² |
| 40 | – | ¥63k/m² |
| 41 | – | ¥50k/m² |
| 42 | – | ¥53k/m² |
| 43 | – | ¥51k/m² |
| 44 | – | ¥50k/m² |
| 45 | – | ¥45k/m² |
| 46 | – | ¥48k/m² |
| 47 | – | ¥33k/m² |
| 48 | – | ¥41k/m² |
| 49 | – | ¥44k/m² |
| 50 | – | ¥32k/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 | ¥71k/m² | ¥95k/m² | ¥215k/m² | – |
| 2008 | ¥64k/m² | ¥93k/m² | ¥224k/m² | – |
| 2009 | ¥48k/m² | ¥86k/m² | ¥204k/m² | – |
| 2010 | ¥71k/m² | ¥85k/m² | ¥183k/m² | – |
| 2011 | ¥54k/m² | ¥95k/m² | ¥169k/m² | ¥233k/m² |
| 2012 | ¥61k/m² | ¥88k/m² | – | ¥235k/m² |
| 2013 | ¥47k/m² | ¥85k/m² | ¥144k/m² | ¥256k/m² |
| 2014 | ¥55k/m² | ¥77k/m² | ¥151k/m² | ¥245k/m² |
| 2015 | ¥59k/m² | ¥84k/m² | ¥133k/m² | ¥236k/m² |
| 2016 | ¥53k/m² | ¥89k/m² | – | ¥238k/m² |
| 2017 | ¥44k/m² | ¥76k/m² | ¥103k/m² | ¥242k/m² |
| 2018 | ¥63k/m² | ¥71k/m² | ¥107k/m² | ¥270k/m² |
| 2019 | ¥45k/m² | ¥84k/m² | ¥148k/m² | ¥262k/m² |
| 2020 | ¥38k/m² | ¥77k/m² | ¥107k/m² | ¥256k/m² |
| 2021 | ¥41k/m² | ¥73k/m² | ¥125k/m² | ¥249k/m² |
| 2022 | ¥37k/m² | ¥66k/m² | ¥147k/m² | ¥187k/m² |
| 2023 | ¥37k/m² | ¥73k/m² | ¥120k/m² | – |
| 2024 | ¥53k/m² | ¥67k/m² | ¥124k/m² | – |
| 2025 | ¥41k/m² | ¥75k/m² | ¥118k/m² | – |
| 2026 (partial) | ¥24k/m² | ¥51k/m² | – | – |
Prices by area in Shimane
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 |
|---|---|---|---|---|---|
| Matsue City | ¥233k/m² | ¥18.5M | ¥12.0M | ¥41k/m² | +2.0% |
| Izumo City | – | – | ¥17.0M | ¥24k/m² | – |
| Unnan City | – | – | ¥6.0M | – | – |
| Masuda City | – | – | ¥4.0M | ¥17k/m² | – |
| Gotsu City | – | – | ¥8.0M | ¥8k/m² | – |
| Hamada City | – | – | ¥6.3M | ¥22k/m² | – |
| Oda City | – | – | – | ¥16k/m² | – |
Prices near train stations in Shimane
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 |
|---|---|---|---|---|---|
| Matsue (松江) | ¥18.0M | ¥231k/m² | ¥13.0M | 18 | 407 |
| Izumoshi (出雲市) | ¥28.0M | ¥415k/m² | ¥20.0M | 16 | 197 |
| Hamada (浜田) | – | – | ¥10.0M | 17 | 83 |
| Masuda (益田) | – | – | ¥5.0M | 18 | 75 |
| Nogi(Shimane) (乃木) | ¥24.5M | ¥279k/m² | ¥15.5M | 10 | 50 |
| Naoe (直江) | – | – | ¥25.0M | 19 | 42 |
| Iya (揖屋) | – | – | ¥14.5M | 15 | 40 |
| Odashi (大田市) | – | – | ¥5.9M | 12 | 34 |
| Gotsu (江津) | – | – | ¥8.0M | 15 | 28 |
| Matsue Shinjiko Onsen (松江しんじ湖温泉) | – | – | ¥12.0M | 12 | 27 |
| Yasugi (安来) | – | – | ¥5.5M | 17 | 27 |
| Unsyu Hirata (雲州平田) | – | – | ¥6.0M | 11 | 26 |
| Izumotaisya Mae (出雲大社前) | – | – | ¥9.1M | 10 | 22 |
| Kisuki (木次) | – | – | ¥4.5M | 10 | 21 |
| Higashi Matsue(Shimane) (東松江(島根)) | – | – | ¥11.5M | 18 | 20 |
Used condo prices by layout in Shimane
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥18.5M | 70 m² | 52 |
| 4LDK | ¥21.0M | 85 m² | 17 |
| 2LDK | ¥20.0M | 65 m² | 17 |
How much does an apartment cost in Shimane?
The median used condo (mansion) in Shimane sold for ¥18.5M in 2025, about ¥233k/m², based on 26 recorded sales.
How much does a house cost in Shimane?
The median house sale, including the land, was ¥9.0M in 2025 across 493 sales.
Are property prices in Shimane going up?
Over the five years to 2025, condo prices per m² changed +0.5% and residential land prices changed -23.1%.
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.