Ishigaki Housing Market 2026: An Island Market Driven by Land
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 88
In short
- 1A small island market
Ishigaki is the main island of the Yaeyama Islands, closer to Taiwan than to Okinawa's main island.
- 2Land has risen fast
Benchmark residential land rose about 61% over five years and 90% over ten years, though only about 4% in the past year.
The answers, compared
What does a home cost?
¥39.0M
median house · ¥273k/m²
17% below the Okinawa median
10 of 11 areas in Okinawa, highest first
Are prices rising?
+62.5%
over 5 years
Faster than Okinawa (+13.3%)
2 of 13 areas in Okinawa, highest first
Can local earners afford it?
12.3× income
median price ÷ average taxable income
Harder than Okinawa (9.2×)
5 of 13 areas in Okinawa, highest first
Rent or buy?
61years of rent
median price ÷ a year of median rent
Longer than Okinawa (49)
6 of 13 areas in Okinawa, highest first
Are people moving in?
+0.2%
population, 2020–25
In line with Okinawa (+0.1%)
9 of 16 areas in Okinawa, highest first
How risky is it?
15%
chance of strong shaking (6-lower+) in 30 years
Lower than Okinawa (22%)
15 of 16 areas in Okinawa, highest first
Rent in Ishigaki City
The average private rental costs ¥56k a month (2023), +7.8% since 2018. Okinawa: ¥54k
| Floor area | Typical layout | Average rent / month | Ishigaki CityOkinawa |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥50k vs 2018 +18.1% · Okinawa: ¥44k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥56k vs 2018 +10.4% · Okinawa: ¥51k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥57k vs 2018 -2.4% · Okinawa: ¥60k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥65k vs 2018 +15.7% · Okinawa: ¥72k | |
| 100–149 m² mostly houses | mostly houses | ¥72k vs 2018 +27.3% · Okinawa: ¥63k |
- Rent per m²
- ¥1,390
- median, per month · Okinawa: ¥1,295
Source: Statistics Bureau of Japan, Housing and Land Survey 2023. Privately owned rentals (excluding rent-free homes), monthly rent without management fees. These averages include older homes, so they run below asking rents for newly listed units. 9,200 rented homes.
A small island market
Ishigaki is the main island of the Yaeyama Islands, closer to Taiwan than to Okinawa's main island. It has about 48,000 people and only about 90 recorded sales a year, mostly land and houses. Figures can swing from year to year.
Land has risen fast
Benchmark residential land rose about 61% over five years and 90% over ten years, though only about 4% in the past year. Land sold in transactions rose by a similar amount. Tourism, a new airport (2013) and mainland buyers looking for second homes and resort sites drove the rise.
Houses
The median house sold for about ¥39M in 2025, the same as in 2024, against about ¥25.5M in 2015. House prices per m² have risen about 4% a year over the past five years, slower than before. Houses cost about 0.9 times the Okinawa average per m².
Population
Population was flat between 2020 and 2025 (+0.2%), but households grew 7.7%. In 2025 more people moved out to the rest of Japan than moved in. Vacancy is low (about 7%).
Risks
Most of Ishigaki's benchmark sites (80%) are in a tsunami inundation zone. The island was hit by the giant Meiwa tsunami of 1771. Earthquake probability is about 15% for 6-lower in 30 years. Typhoons are frequent.
Living in Ishigaki City: people, homes and risks
- Population 2025
- 47,735
- +0.2% since 2020
- Okinawa: +0.1%
- Net moves in 2025
- -252
- -5.28 per 1,000 residents
- Okinawa: -0.38
- Vacant homes (2023)
- 7.4%
- 1.8% empty and not for rent or sale
- Okinawa: 9.3%
- Median rent (2023)
- ¥53k
- per month, all rented homes
- Okinawa: ¥51k
- Strong earthquake risk
- 14.8%
- chance of shaking of intensity 6-lower or more within 30 years
- Okinawa: 22.2%
- Average income per taxpayer
- ¥3.2M
- taxable income in 2023
- Okinawa: ¥3.2M
- Daytime population
- 100
- people here by day per 100 residents (2020 census)
- Foreign residents
- 2.0%
- 1,019 registered residents in 2024
- Okinawa: 1.9%
- Clinics
- 6.7
- per 10,000 residents; 3 hospitals, 20 dental clinics (2020)
- Okinawa: 6.3
- Official land price 2026
- ¥73k/m²
- +4.2% in a year · +61.4% in 5 years
- Okinawa: ¥120k/m²
- Flood exposure
- 0.0%
- of 5 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Okinawa: 7.7%
- Tsunami exposure
- 80.0%
- of 5 benchmark sites in a tsunami inundation zone
- Okinawa: 19.8%
- Landslide exposure
- 0.0%
- of 5 benchmark sites in a landslide warning area
- Okinawa: 0.5%
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 Ishigaki 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.
House
¥29.0M
¥387k/m²
- Aza Kabira
- Land 490 m² · floor 75 m²
- Built 2001 (25 yrs) · Steel
¥35.0M
¥333k/m²
- Aza Ishigaki
- Land 185 m² · floor 105 m²
- Built 2015 (11 yrs) · RC
¥74.0M
¥463k/m²
- Aza Tonoshiro
- Land 180 m² · floor 160 m²
- Built 2016 (9 yrs) · Wood
Show data table
| Year | House |
|---|---|
| 2007 | ¥20.0M |
| 2008 | – |
| 2009 | ¥18.0M |
| 2010 | ¥21.0M |
| 2011 | ¥24.0M |
| 2012 | ¥19.0M |
| 2013 | ¥22.0M |
| 2014 | ¥22.0M |
| 2015 | ¥25.5M |
| 2016 | ¥21.5M |
| 2017 | ¥24.0M |
| 2018 | ¥30.0M |
| 2019 | ¥25.0M |
| 2020 | ¥25.0M |
| 2021 | ¥30.5M |
| 2022 | ¥40.0M |
| 2023 | ¥40.0M |
| 2024 | ¥39.0M |
| 2025 | ¥39.0M |
Show data table
| Year | House | Land |
|---|---|---|
| 2007 | ¥136k/m² | ¥18k/m² |
| 2008 | – | ¥20k/m² |
| 2009 | ¥121k/m² | ¥23k/m² |
| 2010 | ¥155k/m² | ¥15k/m² |
| 2011 | ¥171k/m² | ¥21k/m² |
| 2012 | ¥127k/m² | ¥24k/m² |
| 2013 | ¥151k/m² | ¥27k/m² |
| 2014 | ¥196k/m² | ¥24k/m² |
| 2015 | ¥160k/m² | ¥22k/m² |
| 2016 | ¥137k/m² | ¥29k/m² |
| 2017 | ¥217k/m² | ¥30k/m² |
| 2018 | ¥231k/m² | ¥22k/m² |
| 2019 | ¥240k/m² | ¥21k/m² |
| 2020 | ¥243k/m² | ¥24k/m² |
| 2021 | ¥305k/m² | ¥25k/m² |
| 2022 | ¥316k/m² | ¥30k/m² |
| 2023 | ¥235k/m² | ¥28k/m² |
| 2024 | ¥309k/m² | ¥30k/m² |
| 2025 | ¥273k/m² | ¥39k/m² |
How much does a house cost in Ishigaki City?
The median house sale, including the land, was ¥39.0M in 2025 across 43 sales.
Are property prices in Ishigaki City going up?
Over the five years to 2025, residential land prices changed +62.5%.
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.