Wakayama Housing Market 2026: One in Eight Homes Abandoned
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 1,852
In short
- 1Among Japan's highest vacancy
Wakayama has the second-highest vacancy rate in Japan (21%), after Tokushima, and 12.1% of homes are empty without being for rent, sale or holiday use.
- 2Wakayama City condos are up, land is down
Condo prices per m² in Wakayama City rose about 59% in five years, but on only about 70 sales a year.
- 3Houses are very cheap
A m² of house costs only about a quarter of a m² of condo, one of the lowest ratios in Japan.
- 4Serious natural hazards
Wakayama faces some of Japan's highest combined risks.
The answers, compared
What does a home cost?
¥18.0M
median used condo · ¥267k/m²
52% below the Japan median
21 of 47 prefectures, highest first
Are prices rising?
+58.7%
over 5 years
Faster than Japan (+33.4%)
2 of 47 prefectures, highest first
Can local earners afford it?
5.3× income
median price ÷ average taxable income
Easier than Japan (6.6×)
24 of 47 prefectures, highest first
Rent or buy?
34years of rent
median price ÷ a year of median rent
Shorter than Japan (38)
11 of 47 prefectures, highest first
Are people moving in?
-6.3%
population, 2020–25
Shrinking faster than Japan (-2.5%)
41 of 47 prefectures, highest first
How risky is it?
59%
chance of strong shaking (6-lower+) in 30 years
Higher than Japan (38%)
7 of 47 prefectures, highest first
Rent in Wakayama
The average private rental costs ¥49k a month (2023), -0.5% since 2018. Japan: ¥65k
| Floor area | Typical layout | Average rent / month | WakayamaJapan |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥37k vs 2018 -2.1% · Japan: ¥53k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥45k vs 2018 -6.7% · Japan: ¥64k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥55k vs 2018 -0.5% · Japan: ¥75k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥64k vs 2018 +8.1% · Japan: ¥88k | |
| 100–149 m² mostly houses | mostly houses | ¥52k vs 2018 +0.9% · Japan: ¥84k | |
| 150 m² + mostly houses | mostly houses | ¥53k vs 2018 -3.8% · Japan: ¥91k |
- Rent per m²
- ¥1,131
- median, per month · Japan: ¥1,598
- The median used condo (¥18.0M, 65 m²) costs about 27 years of average rent for a similar-sized home (¥55k 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. 66,600 rented homes.
Among Japan's highest vacancy
Wakayama has the second-highest vacancy rate in Japan (21%), after Tokushima, and 12.1% of homes are empty without being for rent, sale or holiday use. Its population fell 6.3% between 2020 and 2025, and households fell too.
Wakayama City condos are up, land is down
Condo prices per m² in Wakayama City rose about 59% in five years, but on only about 70 sales a year. In 2023 to 2025 the median condo price rose 50% while the price per m² rose 33%, so newer and larger units selling explain part of the jump. On the government's fixed benchmark sites, residential land fell 4% over five years and is almost 70% below its 1991 level.
Houses are very cheap
A m² of house costs only about a quarter of a m² of condo, one of the lowest ratios in Japan. Many houses outside Wakayama City and Iwade sell for little more than the land.
Serious natural hazards
Wakayama faces some of Japan's highest combined risks. The average resident has a 59% chance of 6-lower shaking in 30 years. About 34% of benchmark sites are in tsunami inundation zones, and 12% are in landslide warning areas, more than four times the national rate. Coastal towns from Wakayama City to Kushimoto are directly exposed to a Nankai Trough tsunami. Check hazard maps carefully before buying anywhere outside the higher parts of Wakayama City.
Living in Wakayama: people, homes and risks
- Population 2025
- 864,262
- -6.3% since 2020
- Japan: -2.5%
- Net moves in 2025
- -2,813
- -3.25 per 1,000 residents
- Vacant homes (2023)
- 21.3%
- 12.1% empty and not for rent or sale
- Japan: 13.8%
- Median rent (2023)
- ¥44k
- per month, all rented homes
- Japan: ¥57k
- Strong earthquake risk
- 58.6%
- chance of shaking of intensity 6-lower or more within 30 years
- Japan: 38.4%
- Average income per taxpayer
- ¥3.4M
- taxable income in 2023
- Japan: ¥3.9M
- Foreign residents
- 1.1%
- 10,032 registered residents in 2024
- Japan: 3.0%
- Clinics
- 11.9
- per 10,000 residents; 83 hospitals, 532 dental clinics (2020)
- Japan: 8.5
- Official land price 2026
- ¥32k/m²
- -0.6% in a year · -4.3% in 5 years
- Japan: ¥74k/m²
- Flood exposure
- 54.7%
- of 172 benchmark sites in a worst-case flood zone (5.2% 3 m or deeper)
- Japan: 42.6%
- Tsunami exposure
- 33.7%
- of 172 benchmark sites in a tsunami inundation zone
- Japan: 7.8%
- Landslide exposure
- 11.6%
- of 172 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); 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 Wakayama
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
¥5.0M
¥77k/m²
- Minatogoten, Wakayama City
- Wakayamako · 19 min walk
- 3LDK · 65 m²
- Built 1990 (35 yrs) · RC
¥11.0M
¥183k/m²
- Minatohommachi, Wakayama City
- Wakayamashi · 6 min walk
- 3LDK · 60 m²
- Built 1985 (41 yrs) · SRC
¥25.0M
¥417k/m²
- Mikimachi, Wakayama City
- Wakayama · 19 min walk
- 2LDK · 60 m²
- Built 2020 (6 yrs) · RC
House
¥2.4M
¥13k/m²
- (No Address), Shirahama Town, Nishimuro County
- Shirahama
- Land 120 m² · floor 190 m²
- Built 1950 (76 yrs) · Wood
¥6.2M
¥103k/m²
- Shimomaro, Tanabe City
- Kii Tanabe
- Land 100 m² · floor 60 m²
- Built 1983 (43 yrs) · Wood
¥22.0M
¥200k/m²
- Kuinose, Wakayama City
- Miyamae · 8 min walk
- Land 185 m² · floor 110 m²
- Built 2026 (0 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥8.5M | ¥18.0M |
| 2008 | ¥10.5M | ¥14.0M |
| 2009 | ¥14.0M | ¥13.0M |
| 2010 | ¥13.0M | ¥14.0M |
| 2011 | ¥14.0M | ¥14.0M |
| 2012 | ¥8.9M | ¥13.0M |
| 2013 | ¥8.4M | ¥12.0M |
| 2014 | ¥9.0M | ¥12.0M |
| 2015 | ¥8.8M | ¥11.0M |
| 2016 | ¥7.0M | ¥11.0M |
| 2017 | ¥13.0M | ¥10.0M |
| 2018 | ¥14.0M | ¥11.0M |
| 2019 | ¥11.0M | ¥11.0M |
| 2020 | ¥8.8M | ¥11.0M |
| 2021 | ¥13.0M | ¥10.0M |
| 2022 | ¥10.0M | ¥9.2M |
| 2023 | ¥12.0M | ¥8.0M |
| 2024 | ¥12.0M | ¥7.5M |
| 2025 | ¥18.0M | ¥6.5M |
| 2026 (partial) | – | ¥6.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥149k/m² | ¥130k/m² | ¥42k/m² |
| 2008 | ¥167k/m² | ¥114k/m² | ¥36k/m² |
| 2009 | ¥213k/m² | ¥104k/m² | ¥32k/m² |
| 2010 | ¥200k/m² | ¥111k/m² | ¥37k/m² |
| 2011 | ¥200k/m² | ¥100k/m² | ¥33k/m² |
| 2012 | ¥137k/m² | ¥100k/m² | ¥30k/m² |
| 2013 | ¥153k/m² | ¥100k/m² | ¥29k/m² |
| 2014 | ¥155k/m² | ¥97k/m² | ¥29k/m² |
| 2015 | ¥153k/m² | ¥93k/m² | ¥28k/m² |
| 2016 | ¥126k/m² | ¥90k/m² | ¥29k/m² |
| 2017 | ¥200k/m² | ¥83k/m² | ¥26k/m² |
| 2018 | ¥236k/m² | ¥90k/m² | ¥24k/m² |
| 2019 | ¥183k/m² | ¥88k/m² | ¥28k/m² |
| 2020 | ¥168k/m² | ¥87k/m² | ¥25k/m² |
| 2021 | ¥209k/m² | ¥79k/m² | ¥24k/m² |
| 2022 | ¥168k/m² | ¥79k/m² | ¥27k/m² |
| 2023 | ¥200k/m² | ¥69k/m² | ¥27k/m² |
| 2024 | ¥200k/m² | ¥62k/m² | ¥25k/m² |
| 2025 | ¥267k/m² | ¥56k/m² | ¥24k/m² |
| 2026 (partial) | – | ¥58k/m² | ¥28k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥263k/m² |
| 1 | – | ¥249k/m² |
| 2 | – | ¥307k/m² |
| 3 | – | ¥300k/m² |
| 4 | – | ¥221k/m² |
| 5 | – | ¥221k/m² |
| 6 | – | ¥215k/m² |
| 7 | – | ¥200k/m² |
| 8 | – | ¥200k/m² |
| 9 | – | ¥159k/m² |
| 10 | – | ¥195k/m² |
| 11 | – | ¥169k/m² |
| 12 | – | ¥151k/m² |
| 13 | – | ¥145k/m² |
| 14 | ¥289k/m² | ¥147k/m² |
| 15 | – | ¥124k/m² |
| 16 | ¥300k/m² | ¥140k/m² |
| 17 | ¥344k/m² | ¥113k/m² |
| 18 | – | ¥123k/m² |
| 19 | ¥294k/m² | ¥110k/m² |
| 20 | ¥251k/m² | ¥96k/m² |
| 21 | ¥255k/m² | ¥100k/m² |
| 22 | ¥200k/m² | ¥95k/m² |
| 23 | ¥213k/m² | ¥95k/m² |
| 24 | – | ¥79k/m² |
| 25 | – | ¥68k/m² |
| 26 | – | ¥78k/m² |
| 27 | – | ¥66k/m² |
| 28 | – | ¥62k/m² |
| 29 | – | ¥63k/m² |
| 30 | ¥83k/m² | ¥69k/m² |
| 31 | ¥103k/m² | ¥58k/m² |
| 32 | ¥118k/m² | ¥61k/m² |
| 33 | ¥104k/m² | ¥55k/m² |
| 34 | ¥104k/m² | ¥62k/m² |
| 35 | ¥108k/m² | ¥60k/m² |
| 36 | – | ¥41k/m² |
| 37 | – | ¥43k/m² |
| 38 | – | ¥51k/m² |
| 39 | – | ¥48k/m² |
| 40 | – | ¥52k/m² |
| 41 | – | ¥46k/m² |
| 42 | – | ¥46k/m² |
| 43 | – | ¥40k/m² |
| 44 | – | ¥36k/m² |
| 45 | – | ¥43k/m² |
| 46 | – | ¥38k/m² |
| 47 | – | ¥37k/m² |
| 48 | – | ¥41k/m² |
| 49 | – | ¥35k/m² |
| 50 | – | ¥30k/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 |
|---|---|---|
| 2007 | ¥142k/m² | – |
| 2008 | ¥141k/m² | – |
| 2009 | ¥138k/m² | ¥264k/m² |
| 2010 | ¥133k/m² | ¥274k/m² |
| 2011 | ¥107k/m² | – |
| 2012 | ¥123k/m² | – |
| 2013 | ¥128k/m² | – |
| 2014 | ¥109k/m² | ¥300k/m² |
| 2015 | ¥130k/m² | ¥267k/m² |
| 2016 | ¥108k/m² | – |
| 2017 | ¥128k/m² | ¥311k/m² |
| 2018 | ¥102k/m² | ¥277k/m² |
| 2019 | ¥134k/m² | ¥308k/m² |
| 2020 | ¥110k/m² | – |
| 2021 | ¥122k/m² | ¥278k/m² |
| 2022 | ¥118k/m² | ¥255k/m² |
| 2023 | ¥115k/m² | ¥265k/m² |
| 2024 | ¥108k/m² | ¥308k/m² |
| 2025 | ¥103k/m² | ¥317k/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 | ¥84k/m² | ¥109k/m² | ¥221k/m² | – |
| 2008 | ¥71k/m² | ¥92k/m² | ¥222k/m² | – |
| 2009 | ¥69k/m² | ¥84k/m² | ¥227k/m² | – |
| 2010 | ¥59k/m² | ¥84k/m² | ¥210k/m² | ¥227k/m² |
| 2011 | ¥58k/m² | ¥79k/m² | ¥168k/m² | ¥232k/m² |
| 2012 | ¥56k/m² | ¥83k/m² | ¥157k/m² | ¥232k/m² |
| 2013 | ¥55k/m² | ¥76k/m² | ¥143k/m² | ¥229k/m² |
| 2014 | ¥54k/m² | ¥79k/m² | ¥153k/m² | ¥235k/m² |
| 2015 | ¥46k/m² | ¥75k/m² | ¥136k/m² | ¥232k/m² |
| 2016 | ¥54k/m² | ¥67k/m² | ¥136k/m² | ¥240k/m² |
| 2017 | ¥48k/m² | ¥62k/m² | ¥136k/m² | ¥237k/m² |
| 2018 | ¥38k/m² | ¥64k/m² | ¥122k/m² | ¥227k/m² |
| 2019 | ¥44k/m² | ¥59k/m² | ¥139k/m² | ¥235k/m² |
| 2020 | ¥41k/m² | ¥61k/m² | ¥136k/m² | ¥236k/m² |
| 2021 | ¥40k/m² | ¥56k/m² | ¥114k/m² | ¥209k/m² |
| 2022 | ¥42k/m² | ¥60k/m² | ¥124k/m² | ¥215k/m² |
| 2023 | ¥37k/m² | ¥63k/m² | ¥125k/m² | ¥227k/m² |
| 2024 | ¥37k/m² | ¥62k/m² | ¥127k/m² | ¥200k/m² |
| 2025 | ¥33k/m² | ¥49k/m² | ¥110k/m² | ¥181k/m² |
| 2026 (partial) | ¥38k/m² | ¥50k/m² | ¥107k/m² | – |
Prices by area in Wakayama
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 |
|---|---|---|---|---|---|
| Wakayama City | ¥267k/m² | ¥18.0M | ¥10.0M | ¥53k/m² | +58.7% |
| Iwade City | – | – | ¥16.5M | ¥36k/m² | – |
| Shirahama Town, Nishimuro County | – | – | ¥4.9M | ¥11k/m² | – |
| Hashimoto City | – | – | ¥5.6M | ¥13k/m² | – |
| Tanabe City | – | – | ¥5.4M | ¥16k/m² | – |
| Shingu City | – | – | ¥4.8M | ¥22k/m² | – |
| Kainan City | – | – | ¥9.4M | ¥37k/m² | – |
| Kinokawa City | – | – | ¥5.1M | ¥15k/m² | – |
| Kushimoto Town, Higashimuro County | – | – | ¥4.7M | ¥6k/m² | – |
| Gobo City | – | – | ¥3.0M | – | – |
| Arida City | – | – | – | ¥11k/m² | – |
| Aridagawa Town, Arida County | – | – | – | ¥11k/m² | – |
| Kamitonda Town, Nishimuro County | – | – | – | ¥47k/m² | – |
| Nachikatsuura Town, Higashimuro County | – | – | – | ¥10k/m² | – |
Prices near train stations in Wakayama
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 |
|---|---|---|---|---|---|
| Iwade (岩出) | – | – | ¥18.0M | 19 | 133 |
| Miyamae (宮前) | ¥17.5M | ¥244k/m² | ¥13.0M | 18 | 126 |
| Wakayamashi (和歌山市) | ¥19.5M | ¥264k/m² | ¥13.0M | 16 | 124 |
| Wakayama (和歌山) | ¥19.0M | ¥280k/m² | ¥20.0M | 11 | 121 |
| Kimiidera (紀三井寺) | – | – | ¥9.7M | 18 | 105 |
| Shingu (新宮) | – | – | ¥5.9M | 14 | 101 |
| Kinokawa (紀ノ川) | ¥5.2M | ¥97k/m² | ¥9.0M | 15 | 99 |
| Kii Tanabe (紀伊田辺) | – | – | ¥4.7M | 16 | 94 |
| Kainan (海南) | ¥15.0M | ¥260k/m² | ¥9.7M | 14 | 90 |
| Shirahama (白浜) | – | – | ¥8.8M | 15 | 68 |
| Musota (六十谷) | – | – | ¥5.0M | 21 | 63 |
| Asso (朝来) | – | – | ¥8.3M | 14 | 62 |
| Kii Nakanoshima (紀伊中ノ島) | – | – | ¥11.0M | 13 | 60 |
| Kishi(Wakayama) (貴志) | – | – | ¥3.1M | 12 | 55 |
| Wakayamako (和歌山港) | – | – | ¥9.0M | 20 | 55 |
Used condo prices by layout in Wakayama
Sales from 2023–2025.
| Layout | Median used condo price | Typical size | Sales |
|---|---|---|---|
| 3LDK | ¥16.0M | 70 m² | 93 |
| 2LDK | ¥16.5M | 65 m² | 54 |
| 4LDK | ¥23.0M | 82.5 m² | 14 |
| 1LDK | ¥13.0M | 50 m² | 13 |
How much does an apartment cost in Wakayama?
The median used condo (mansion) in Wakayama sold for ¥18.0M in 2025, about ¥267k/m², based on 73 recorded sales.
How much does a house cost in Wakayama?
The median house sale, including the land, was ¥6.5M in 2025 across 962 sales.
Are property prices in Wakayama going up?
Over the five years to 2025, condo prices per m² changed +58.7% and residential land prices changed -4.0%.
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.