Shinagawa Ward Housing Market 2025: Two Renewal Areas and Steady Demand
Data updated 2026-11-10 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2
Key figures for 2025
- Median used condo price
- ¥40.0M
- ¥1.4M/m² · +7.7% vs 2024
- Median house price (land + building)
- ¥110M
- +6.1% vs 2024
- Residential land per m² (sales)
- ¥1.1M/m²
- +41.0% over 5 years
- Transactions in 2025
- 1,251
- #7 of 50 areas in Tokyo by price per m²
Strong inflow
Shinagawa's population rose only 0.9% between 2020 and 2025, but in 2025 more people moved in from the rest of Japan than left, about 6 per 1,000 residents, seventh among the 23 wards. Households grew faster (+3.7%), so many newcomers live alone.
Prices
Condos cost about ¥1.4M per m², 1.3 times the Tokyo average and seventh among the wards. Prices per m² have risen about 5% a year for the past five years, slightly faster than before. The median condo sold for about ¥40M. Benchmark residential land rose 13% in the past year and 75% over ten years, and is only about 12% below its 1991 peak.
North versus south
Osaki and Gotanda in the north, near the Yamanote line, are the priciest at about ¥1.5–1.6M per m². Omori in the south sells at about ¥0.9M. Condos within 5 minutes of a station sell for about 17% more per m² than those 11–15 minutes away.
Small flats dominate
Almost half of condo sales are studios and 1K units. 2LDK and 3LDK are also common, especially along the Keikyu and Oimachi lines.
Renewal and risks
Two Urgent Urban Renewal Areas, Shinagawa–Tamachi and Osaki, are in the ward. The Shinagawa area will also gain the maglev Chuo Shinkansen terminal. About 40% of benchmark sites are in a flood zone, all of them shallow. A median condo costs about 36 years of median rent, a little better than the Tokyo average.
Living in Shinagawa Ward: people, homes and risks
- Population 2025
- 426,403
- +0.9% since 2020
- Tokyo: +1.4%
- Net moves in 2025
- +2,693
- +6.32 per 1,000 residents
- Tokyo: +4.58
- Vacant homes (2023)
- 10.1%
- 2.1% empty and not for rent or sale
- Tokyo: 10.9%
- Median rent (2023)
- ¥92k
- per month, all rented homes
- Tokyo: ¥78k
- Strong earthquake risk
- 53.1%
- chance of shaking of intensity 6-lower or more within 30 years
- Tokyo: 52.8%
- Official land price 2026
- ¥1.1M/m²
- +13.4% in a year · +44.3% in 5 years
- Tokyo: ¥407k/m²
- Flood exposure
- 39.7%
- of 58 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Tokyo: 42.5%
- Landslide exposure
- 0.0%
- of 58 benchmark sites in a landslide warning area
- Tokyo: 0.8%
Urban renewal zones
Areas designated by the national government for priority redevelopment, with relaxed planning rules and financial support for large projects.
- Shinagawa and Tamachi Station area · 184 ha · designated 2012 · Specified zone (highest priority)
- Osaki Station area · 61 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 Shinagawa Ward
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
¥25.0M
¥1.3M/m²
- Togoshi
- Togoshi · 3 min walk
- 1K · 20 m²
- Built 2005 (21 yrs) · RC
¥34.0M
¥1.7M/m²
- Higashioi
- Samezu · 3 min walk
- 1K · 20 m²
- Built 2021 (5 yrs) · RC
¥95.0M
¥1.7M/m²
- Futaba
- Shimo Shimmei · 2 min walk
- 2LDK · 55 m²
- Built 2005 (20 yrs) · RC
House
¥58.0M
¥1.1M/m²
- Oi
- Oimachi · 9 min walk
- Land 55 m² · floor 55 m²
- Built 2018 (7 yrs) · Wood
¥120M
¥1.1M/m²
- Hatanodai
- Hatanodai · 6 min walk
- Land 80 m² · floor 110 m²
- Built 2026 (0 yrs) · Wood
¥280M
¥1.1M/m²
- Higashioi
- Tachiaigawa · 6 min walk
- Land 175 m² · floor 260 m²
- Built 2017 (9 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2005 | ¥20.0M | ¥60.0M |
| 2006 | ¥23.0M | ¥60.0M |
| 2007 | ¥27.0M | ¥67.0M |
| 2008 | ¥24.0M | ¥60.0M |
| 2009 | ¥31.0M | ¥53.0M |
| 2010 | ¥36.0M | ¥57.0M |
| 2011 | ¥26.0M | ¥51.0M |
| 2012 | ¥27.0M | ¥53.0M |
| 2013 | ¥26.0M | ¥54.0M |
| 2014 | ¥25.0M | ¥53.0M |
| 2015 | ¥29.5M | ¥61.0M |
| 2016 | ¥26.0M | ¥61.0M |
| 2017 | ¥27.0M | ¥63.0M |
| 2018 | ¥28.0M | ¥68.5M |
| 2019 | ¥30.0M | ¥68.0M |
| 2020 | ¥33.0M | ¥66.0M |
| 2021 | ¥33.0M | ¥80.0M |
| 2022 | ¥35.0M | ¥90.0M |
| 2023 | ¥32.0M | ¥84.0M |
| 2024 | ¥40.0M | ¥94.0M |
| 2025 | ¥40.0M | ¥110M |
| 2026 (partial) | ¥33.0M | ¥130M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2005 | ¥640k/m² | ¥587k/m² | ¥580k/m² |
| 2006 | ¥740k/m² | ¥617k/m² | ¥650k/m² |
| 2007 | ¥750k/m² | ¥591k/m² | ¥680k/m² |
| 2008 | ¥727k/m² | ¥600k/m² | ¥620k/m² |
| 2009 | ¥750k/m² | ¥576k/m² | ¥570k/m² |
| 2010 | ¥867k/m² | ¥576k/m² | ¥590k/m² |
| 2011 | ¥700k/m² | ¥537k/m² | ¥570k/m² |
| 2012 | ¥667k/m² | ¥537k/m² | ¥570k/m² |
| 2013 | ¥673k/m² | ¥555k/m² | ¥600k/m² |
| 2014 | ¥800k/m² | ¥573k/m² | ¥660k/m² |
| 2015 | ¥854k/m² | ¥588k/m² | ¥620k/m² |
| 2016 | ¥900k/m² | ¥640k/m² | ¥685k/m² |
| 2017 | ¥933k/m² | ¥664k/m² | ¥820k/m² |
| 2018 | ¥1.0M/m² | ¥709k/m² | ¥710k/m² |
| 2019 | ¥1.0M/m² | ¥711k/m² | ¥770k/m² |
| 2020 | ¥1.1M/m² | ¥737k/m² | ¥780k/m² |
| 2021 | ¥1.1M/m² | ¥776k/m² | ¥900k/m² |
| 2022 | ¥1.1M/m² | ¥861k/m² | ¥910k/m² |
| 2023 | ¥1.1M/m² | ¥864k/m² | ¥1.0M/m² |
| 2024 | ¥1.3M/m² | ¥943k/m² | ¥970k/m² |
| 2025 | ¥1.4M/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2026 (partial) | ¥1.4M/m² | ¥1.1M/m² | ¥1.2M/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | ¥1.7M/m² | ¥1.0M/m² |
| 1 | ¥1.7M/m² | ¥1.1M/m² |
| 2 | ¥1.3M/m² | ¥1.0M/m² |
| 3 | ¥1.4M/m² | ¥1.0M/m² |
| 4 | ¥1.4M/m² | ¥1.0M/m² |
| 5 | ¥1.4M/m² | ¥987k/m² |
| 6 | ¥1.5M/m² | ¥1.0M/m² |
| 7 | ¥1.4M/m² | ¥962k/m² |
| 8 | ¥1.4M/m² | ¥1.0M/m² |
| 9 | ¥1.3M/m² | ¥856k/m² |
| 10 | ¥1.3M/m² | – |
| 11 | ¥1.4M/m² | – |
| 12 | ¥1.3M/m² | ¥939k/m² |
| 13 | ¥1.3M/m² | ¥850k/m² |
| 14 | ¥1.3M/m² | – |
| 15 | ¥1.3M/m² | ¥960k/m² |
| 16 | ¥1.3M/m² | – |
| 17 | ¥1.2M/m² | ¥875k/m² |
| 18 | ¥1.2M/m² | – |
| 19 | ¥1.2M/m² | ¥929k/m² |
| 20 | ¥1.3M/m² | ¥880k/m² |
| 21 | ¥1.2M/m² | – |
| 22 | ¥1.2M/m² | ¥800k/m² |
| 23 | ¥1.2M/m² | – |
| 24 | ¥1.1M/m² | – |
| 25 | ¥1.1M/m² | ¥680k/m² |
| 26 | ¥1.1M/m² | ¥861k/m² |
| 27 | ¥1.1M/m² | ¥775k/m² |
| 28 | ¥1.0M/m² | ¥613k/m² |
| 29 | ¥1.1M/m² | ¥627k/m² |
| 30 | ¥1.0M/m² | ¥675k/m² |
| 31 | ¥1.0M/m² | ¥439k/m² |
| 32 | ¥1.0M/m² | ¥695k/m² |
| 33 | ¥933k/m² | ¥528k/m² |
| 34 | ¥750k/m² | ¥645k/m² |
| 35 | ¥844k/m² | ¥740k/m² |
| 36 | ¥800k/m² | ¥769k/m² |
| 37 | ¥834k/m² | ¥671k/m² |
| 38 | ¥739k/m² | ¥756k/m² |
| 39 | ¥845k/m² | ¥676k/m² |
| 40 | ¥910k/m² | ¥667k/m² |
| 41 | ¥800k/m² | ¥1.0M/m² |
| 42 | ¥833k/m² | ¥544k/m² |
| 43 | ¥800k/m² | ¥588k/m² |
| 44 | ¥810k/m² | ¥701k/m² |
| 45 | ¥743k/m² | ¥619k/m² |
| 46 | ¥889k/m² | ¥615k/m² |
| 47 | ¥800k/m² | – |
| 48 | ¥700k/m² | – |
| 49 | ¥800k/m² | ¥652k/m² |
| 50 | ¥750k/m² | ¥664k/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 |
|---|---|---|---|---|
| 2005 | ¥375k/m² | ¥578k/m² | ¥1.0M/m² | – |
| 2006 | ¥400k/m² | ¥600k/m² | ¥1.1M/m² | – |
| 2007 | ¥526k/m² | ¥625k/m² | ¥989k/m² | – |
| 2008 | ¥483k/m² | ¥633k/m² | ¥1.0M/m² | – |
| 2009 | ¥450k/m² | ¥600k/m² | ¥1.0M/m² | – |
| 2010 | ¥500k/m² | ¥657k/m² | ¥1.1M/m² | – |
| 2011 | ¥428k/m² | ¥636k/m² | ¥800k/m² | ¥1.1M/m² |
| 2012 | ¥460k/m² | ¥600k/m² | ¥800k/m² | ¥964k/m² |
| 2013 | ¥475k/m² | ¥600k/m² | ¥829k/m² | ¥1.1M/m² |
| 2014 | ¥491k/m² | ¥653k/m² | ¥900k/m² | ¥1.2M/m² |
| 2015 | ¥545k/m² | ¥692k/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2016 | ¥575k/m² | ¥753k/m² | ¥1.0M/m² | ¥1.1M/m² |
| 2017 | ¥594k/m² | ¥800k/m² | ¥1.0M/m² | ¥1.2M/m² |
| 2018 | ¥617k/m² | ¥800k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2019 | ¥640k/m² | ¥818k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2020 | ¥700k/m² | ¥867k/m² | ¥1.1M/m² | ¥1.2M/m² |
| 2021 | ¥800k/m² | ¥942k/m² | ¥1.1M/m² | ¥1.3M/m² |
| 2022 | ¥720k/m² | ¥960k/m² | ¥1.2M/m² | ¥1.3M/m² |
| 2023 | ¥800k/m² | ¥950k/m² | ¥1.2M/m² | ¥1.4M/m² |
| 2024 | ¥776k/m² | ¥1.1M/m² | ¥1.3M/m² | ¥1.4M/m² |
| 2025 | ¥818k/m² | ¥1.1M/m² | ¥1.4M/m² | ¥1.6M/m² |
| 2026 (partial) | – | ¥1.1M/m² | ¥1.5M/m² | ¥1.7M/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 |
|---|---|---|---|---|
| 2005 | – | ¥475k/m² | ¥645k/m² | – |
| 2006 | ¥432k/m² | ¥500k/m² | ¥671k/m² | – |
| 2007 | ¥427k/m² | ¥498k/m² | ¥706k/m² | – |
| 2008 | – | ¥467k/m² | ¥689k/m² | – |
| 2009 | – | ¥400k/m² | ¥611k/m² | – |
| 2010 | – | ¥500k/m² | ¥644k/m² | – |
| 2011 | – | ¥417k/m² | – | ¥632k/m² |
| 2012 | – | ¥400k/m² | – | ¥611k/m² |
| 2013 | ¥346k/m² | ¥400k/m² | – | ¥622k/m² |
| 2014 | ¥446k/m² | ¥462k/m² | ¥622k/m² | ¥653k/m² |
| 2015 | – | ¥480k/m² | – | ¥737k/m² |
| 2016 | – | ¥530k/m² | ¥627k/m² | ¥732k/m² |
| 2017 | ¥467k/m² | ¥553k/m² | – | ¥733k/m² |
| 2018 | ¥550k/m² | ¥522k/m² | – | ¥831k/m² |
| 2019 | – | ¥563k/m² | – | ¥814k/m² |
| 2020 | ¥680k/m² | ¥611k/m² | ¥701k/m² | ¥800k/m² |
| 2021 | ¥538k/m² | ¥616k/m² | – | ¥862k/m² |
| 2022 | ¥800k/m² | ¥667k/m² | – | ¥1.1M/m² |
| 2023 | ¥552k/m² | ¥721k/m² | ¥867k/m² | ¥975k/m² |
| 2024 | ¥618k/m² | ¥657k/m² | ¥812k/m² | ¥1.0M/m² |
| 2025 | ¥690k/m² | ¥730k/m² | – | ¥1.1M/m² |
Prices near train stations in Shinagawa Ward
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 |
|---|---|---|---|---|---|
| Osaki (大崎) | ¥75.0M | ¥1.6M/m² | ¥130M | 6 | 244 |
| Gotanda (五反田) | ¥35.0M | ¥1.5M/m² | ¥340M | 6 | 242 |
| Oimachi (大井町) | ¥41.5M | ¥1.3M/m² | ¥82.5M | 6 | 238 |
| Tachiaigawa (立会川) | ¥34.0M | ¥1.1M/m² | ¥83.0M | 6 | 185 |
| Omorikaigan (大森海岸) | ¥28.0M | ¥1.2M/m² | – | 6 | 178 |
| Fudo Mae (不動前) | ¥49.5M | ¥1.4M/m² | ¥175M | 5 | 162 |
| Togoshi (戸越) | ¥29.0M | ¥1.3M/m² | ¥91.0M | 6 | 158 |
| Nishi Oi (西大井) | ¥31.0M | ¥1.3M/m² | ¥82.0M | 7 | 156 |
| Musashi Koyama (武蔵小山) | ¥43.0M | ¥1.3M/m² | ¥110M | 6 | 150 |
| Omori(Tokyo) (大森(東京)) | ¥35.0M | ¥933k/m² | ¥130M | 8 | 148 |
| Shimbamba (新馬場) | ¥32.5M | ¥1.2M/m² | ¥90.0M | 5 | 137 |
| Ebara Nakanobu (荏原中延) | ¥26.0M | ¥1.1M/m² | ¥75.0M | 5 | 117 |
| Togoshi Ginza (戸越銀座) | ¥24.0M | ¥1.1M/m² | ¥95.0M | 5 | 103 |
| Hatanodai (旗の台) | ¥22.0M | ¥1.0M/m² | ¥88.5M | 5 | 94 |
| Meguro (目黒) | ¥81.0M | ¥1.6M/m² | ¥260M | 7 | 83 |
Used condo prices by layout in Shinagawa Ward
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 1K | ¥25.0M | 20 m² | 894 |
| 2LDK | ¥75.0M | 55 m² | 443 |
| 3LDK | ¥87.0M | 70 m² | 384 |
| 1LDK | ¥52.0M | 40 m² | 278 |
| 1DK | ¥28.0M | 25 m² | 129 |
| 2DK | ¥36.0M | 42.5 m² | 70 |
| 1R | ¥15.0M | 15 m² | 32 |
| Open floor | ¥66.0M | 60 m² | 13 |
How much does an apartment cost in Shinagawa Ward?
The median used condo (mansion) in Shinagawa Ward sold for ¥40.0M in 2025, about ¥1.4M/m², based on 843 recorded sales.
How much does a house cost in Shinagawa Ward?
The median house sale, including the land, was ¥110M in 2025 across 260 sales.
Are property prices in Shinagawa Ward going up?
Over the five years to 2025, condo prices per m² changed +29.9% and residential land prices changed +41.0%.
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.