Kikuyo Housing Market 2026: The TSMC Town
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 111
In short
- 1A chip plant changed the market
Kikuyo, a town next to Kumamoto city, is home to the TSMC (JASM) semiconductor plant that opened in 2024, with a second plant planned.
- 2Houses and land
Most sales are houses and land.
- 3A growing town
Population grew 2.8% between 2020 and 2025 while Kumamoto Prefecture shrank 3.5%, and households grew almost 10%.
The answers, compared
What does a home cost?
¥37.0M
median house · ¥297k/m²
2.1× the Kumamoto median
1 of 17 areas in Kumamoto, highest first
Are prices rising?
-55.3%
over 5 years
Slower than Kumamoto (+29.5%)
19 of 19 areas in Kumamoto, highest first
Can local earners afford it?
9.6× income
median price ÷ average taxable income
Harder than Kumamoto (5.7×)
1 of 19 areas in Kumamoto, highest first
Rent or buy?
57years of rent
median price ÷ a year of median rent
Longer than Kumamoto (34)
2 of 19 areas in Kumamoto, highest first
Are people moving in?
+2.8%
population, 2020–25
Growing while Kumamoto shrinks (-3.5%)
4 of 21 areas in Kumamoto, highest first
How risky is it?
9%
chance of strong shaking (6-lower+) in 30 years
Lower than Kumamoto (15%)
15 of 21 areas in Kumamoto, highest first
A chip plant changed the market
Kikuyo, a town next to Kumamoto city, is home to the TSMC (JASM) semiconductor plant that opened in 2024, with a second plant planned. Benchmark residential land rose 47% over the past five years and about 6% in the past year. Houses now cost about 2.2 times the Kumamoto average per m², up from 1.8 times ten years ago.
Houses and land
Most sales are houses and land. The median house sold for about ¥37M in 2025, against about ¥24M in 2015. Prices per m² have risen about 3% a year over the past five years, slower than land. Sales rose about 9% in 2025.
A growing town
Population grew 2.8% between 2020 and 2025 while Kumamoto Prefecture shrank 3.5%, and households grew almost 10%. Vacancy is low (about 7%), and the median rent of about ¥54,000 is high for the area, as plant workers and engineers look for homes.
Stations
Most homes are near Haramizu and Hikari-no-Mori on the JR Hohi line, but most residents drive. Station distance has little effect on price.
Risks
The 30-year probability of 6-lower shaking is about 9%, but the town is close to the Futagawa fault, which caused the 2016 Kumamoto earthquakes in neighbouring Mashiki. About a third of benchmark sites are in a shallow flood zone along the Shirakawa river.
Living in Kikuyo Town, Kikuchi County: people, homes and risks
- Population 2025
- 44,548
- +2.8% since 2020
- Kumamoto: -3.5%
- Net moves in 2025
- +103
- +2.31 per 1,000 residents
- Kumamoto: -1.39
- Vacant homes (2023)
- 6.7%
- 0.9% empty and not for rent or sale
- Kumamoto: 14.9%
- Median rent (2023)
- ¥54k
- per month, all rented homes
- Kumamoto: ¥47k
- Strong earthquake risk
- 9.0%
- chance of shaking of intensity 6-lower or more within 30 years
- Kumamoto: 14.9%
- Average income per taxpayer
- ¥3.9M
- taxable income in 2023
- Kumamoto: ¥3.3M
- Daytime population
- 98
- people here by day per 100 residents (2020 census)
- Foreign residents
- 2.4%
- 1,032 registered residents in 2024
- Kumamoto: 1.7%
- Clinics
- 7.2
- per 10,000 residents; 4 hospitals, 21 dental clinics (2020)
- Kumamoto: 8.9
- Official land price 2026
- ¥80k/m²
- +6.3% in a year · +46.6% in 5 years
- Kumamoto: ¥54k/m²
- Flood exposure
- 33.3%
- of 9 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Kumamoto: 51.3%
- Landslide exposure
- 0.0%
- of 9 benchmark sites in a landslide warning area
- Kumamoto: 0.8%
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); incomes: Ministry of Internal Affairs taxation survey via the Statistics Bureau's municipal indicators; foreign residents: Basic Resident Register; medical facilities and station passengers: MLIT National Land Numerical Information. Earthquake probability is measured at the municipal center.
Example sales in Kikuyo Town, Kikuchi County
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.
House
¥28.0M
¥255k/m²
- Oaza Haramizu
- Haramizu · 25 min walk
- Land 280 m² · floor 110 m²
- Built 2025 (0 yrs) · Wood
¥37.0M
¥308k/m²
- Oaza Haramizu
- Haramizu · 10 min walk
- Land 210 m² · floor 120 m²
- Built 2025 (0 yrs) · Wood
¥74.0M
¥322k/m²
- Oaza Haramizu
- Haramizu · 11 min walk
- Land 420 m² · floor 230 m²
- Built 2025 (0 yrs) · Wood
Show data table
| Year | House |
|---|---|
| 2007 | – |
| 2008 | ¥34.0M |
| 2009 | ¥25.0M |
| 2010 | ¥29.0M |
| 2011 | ¥30.0M |
| 2012 | ¥29.0M |
| 2013 | ¥26.0M |
| 2014 | ¥29.0M |
| 2015 | ¥23.5M |
| 2016 | – |
| 2017 | ¥28.0M |
| 2018 | ¥28.0M |
| 2019 | ¥34.0M |
| 2020 | ¥33.0M |
| 2021 | ¥29.5M |
| 2022 | ¥36.0M |
| 2023 | ¥39.0M |
| 2024 | ¥41.0M |
| 2025 | ¥37.0M |
Show data table
| Year | House | Land |
|---|---|---|
| 2007 | – | ¥50k/m² |
| 2008 | ¥263k/m² | ¥50k/m² |
| 2009 | ¥200k/m² | ¥53k/m² |
| 2010 | ¥243k/m² | ¥47k/m² |
| 2011 | ¥218k/m² | ¥45k/m² |
| 2012 | ¥238k/m² | ¥42k/m² |
| 2013 | ¥182k/m² | ¥40k/m² |
| 2014 | ¥231k/m² | ¥42k/m² |
| 2015 | ¥208k/m² | ¥25k/m² |
| 2016 | – | ¥30k/m² |
| 2017 | ¥226k/m² | ¥35k/m² |
| 2018 | ¥250k/m² | ¥48k/m² |
| 2019 | ¥273k/m² | ¥50k/m² |
| 2020 | ¥263k/m² | ¥47k/m² |
| 2021 | ¥244k/m² | ¥48k/m² |
| 2022 | ¥296k/m² | ¥52k/m² |
| 2023 | ¥314k/m² | ¥59k/m² |
| 2024 | ¥324k/m² | ¥76k/m² |
| 2025 | ¥297k/m² | ¥21k/m² |
Show data table
| Building age (years) | House |
|---|---|
| 0 | ¥330k/m² |
| 1 | ¥296k/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 | 2001-2010 | 2011-2020 |
|---|---|---|
| 2010 | ¥255k/m² | – |
| 2012 | – | ¥265k/m² |
| 2018 | – | ¥290k/m² |
| 2020 | – | ¥313k/m² |
Prices near train stations in Kikuyo Town, Kikuchi County
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 | Daily passengers (2023) |
|---|---|---|---|---|---|---|
| Haramizu (原水) | – | – | ¥44.0M | 15 | 76 | 2,890+45% vs 2019 |
| Sanrigi (三里木) | – | – | ¥35.5M | 9 | 26 | 1,388+20% vs 2019 |
| Hikari no Mori (光の森) | – | – | ¥36.5M | 12 | 20 | 4,998-8% vs 2019 |
| Musashizuka (武蔵塚) | – | – | ¥36.5M | 20 | 14 | 4,332-4% vs 2019 |
How much does a house cost in Kikuyo Town, Kikuchi County?
The median house sale, including the land, was ¥37.0M in 2025 across 46 sales.
Are property prices in Kikuyo Town, Kikuchi County going up?
Over the five years to 2025, residential land prices changed -55.3%.
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.