Naha Housing Market 2026: Expensive Compared With Rents, and Cooling
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 309
In short
- 1A boom that is slowing
Naha is the capital of Okinawa.
- 2Homes cost a lot compared with rents
A median condo costs about 47 years of median rent, very high for a regional city.
- 3A family market
The most traded home is a 70 m² 3LDK at about ¥34M, and about 60% of condo sales are family-sized.
- 4People are moving out
Naha's population fell 2.1% between 2020 and 2025, while Okinawa Prefecture grew slightly.
- 5Land 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.
The answers, compared
What does a home cost?
¥30.0M
median used condo · ¥441k/m²
3% below the Okinawa median
Are prices rising?
+5.6%
over 5 years
Slower than Okinawa (+13.3%)
9 of 13 areas in Okinawa, highest first
Can local earners afford it?
8.3× income
median price ÷ average taxable income
Easier than Okinawa (9.2×)
13 of 13 areas in Okinawa, highest first
Rent or buy?
47years of rent
median price ÷ a year of median rent
Shorter than Okinawa (49)
12 of 13 areas in Okinawa, highest first
Are people moving in?
-2.1%
population, 2020–25
Slower than Okinawa (+0.1%)
15 of 16 areas in Okinawa, highest first
How risky is it?
21%
chance of strong shaking (6-lower+) in 30 years
In line with Okinawa (22%)
10 of 16 areas in Okinawa, highest first
Rent in Naha City
The average private rental costs ¥57k a month (2023), +9.1% since 2018. Okinawa: ¥54k
| Floor area | Typical layout | Average rent / month | Naha CityOkinawa |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥46k vs 2018 +13.1% · Okinawa: ¥44k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥53k vs 2018 +7.5% · Okinawa: ¥51k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥66k vs 2018 +6.3% · Okinawa: ¥60k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥83k vs 2018 +18.1% · Okinawa: ¥72k | |
| 100–149 m² mostly houses | mostly houses | ¥60k vs 2018 -31.1% · Okinawa: ¥63k | |
| 150 m² + mostly houses | mostly houses | ¥92k vs 2018 +35.8% · Okinawa: ¥70k |
- Rent per m²
- ¥1,417
- median, per month · Okinawa: ¥1,295
- The median used condo (¥30.0M, 65 m²) costs about 38 years of average rent for a similar-sized home (¥66k a month).
- Excludes management fees, repair reserve, property tax and mortgage interest.
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. 77,570 rented homes.
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%
- Average income per taxpayer
- ¥3.6M
- taxable income in 2023
- Okinawa: ¥3.2M
- Daytime population
- 109
- people here by day per 100 residents (2020 census)
- Foreign residents
- 2.5%
- 7,888 registered residents in 2024
- Okinawa: 1.9%
- Clinics
- 9.0
- per 10,000 residents; 18 hospitals, 186 dental clinics (2020)
- Okinawa: 6.3
- 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); 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 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 | Daily passengers (2023) |
|---|---|---|---|---|---|---|
| Asato (安里) | ¥18.0M | ¥308k/m² | ¥46.0M | 11 | 64 | 4,813+3% vs 2019 |
| Miebashi (美栄橋) | ¥29.0M | ¥443k/m² | ¥88.0M | 7 | 63 | 6,662+4% vs 2019 |
| Omoromachi (おもろまち) | ¥51.5M | ¥735k/m² | – | 8 | 54 | 10,452-10% vs 2019 |
| Asahibashi (旭橋) | ¥32.0M | ¥480k/m² | ¥290M | 9 | 43 | 8,796+1% vs 2019 |
| Tsubogawa (壺川) | ¥37.0M | ¥601k/m² | ¥51.5M | 8 | 40 | 4,115-1% vs 2019 |
| Akamine (赤嶺) | ¥27.0M | ¥418k/m² | – | 10 | 34 | 4,773-1% vs 2019 |
| Makishi (牧志) | ¥37.5M | ¥522k/m² | ¥170M | 4 | 34 | 6,521-6% vs 2019 |
| Shuri (首里) | ¥32.0M | ¥422k/m² | ¥35.0M | 9 | 27 | 5,031-25% vs 2019 |
| Oroku (小禄) | ¥24.0M | ¥1.0M/m² | – | 6 | 25 | 7,381-4% vs 2019 |
| Prefectural Office(Okinawa) (県庁前(沖縄)) | ¥24.5M | ¥361k/m² | ¥68.5M | 8 | 24 | 13,489-5% vs 2019 |
| Onoyama Park (奥武山公園) | ¥32.0M | ¥496k/m² | – | 14 | 23 | 4,144-7% vs 2019 |
| Furujima (古島) | – | – | ¥100M | 8 | 18 | 4,903-5% vs 2019 |
| Gibo (儀保) | ¥22.0M | ¥331k/m² | – | 5 | 18 | 2,347-21% vs 2019 |
| Kyozuka (経塚) | – | – | – | 10 | 10 | 1,668+29% vs 2019 |
| Naha City Hospital(Okinawa) (市立病院前(沖縄)) | – | – | – | 6 | 10 | 1,861-2% vs 2019 |
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.