Wakayama City Housing Market Report 2026
Data updated 2026-11-11 · Source: MLIT transaction price survey, 2005 Q3–2026 Q2 · Transactions in 2025: 757
In short
- 1Price growth is speeding up
Condo values per m² have risen about 5.8% a year over the past five years, faster than the 2.7% a year of the five years before.
- 2Moving with Wakayama
Per m², condos here are priced close to the Wakayama average.
- 3Being near a station is worth a lot
Condos within a 5-minute walk of a station sell for about 32% more per m² than those 11–15 minutes away.
- 4A family market
57% of recent condo sales have three or more bedrooms.
The answers, compared
What does a home cost?
¥18.0M
median used condo · ¥267k/m²
0% above the Wakayama median
Are prices rising?
+58.7%
over 5 years
In line with Wakayama (+58.7%)
3 of 12 areas in Wakayama, highest first
Can local earners afford it?
4.8× income
median price ÷ average taxable income
Easier than Wakayama (5.3×)
2 of 10 areas in Wakayama, highest first
Rent or buy?
32years of rent
median price ÷ a year of median rent
Shorter than Wakayama (34)
1 of 9 areas in Wakayama, highest first
Are people moving in?
-4.1%
population, 2020–25
Shrinking slower than Wakayama (-6.3%)
3 of 14 areas in Wakayama, highest first
How risky is it?
71%
chance of strong shaking (6-lower+) in 30 years
Higher than Wakayama (59%)
7 of 14 areas in Wakayama, highest first
Rent in Wakayama City
The average private rental costs ¥52k a month (2023), +0.8% since 2018. Wakayama: ¥49k
| Floor area | Typical layout | Average rent / month | Wakayama CityWakayama |
|---|---|---|---|
| under 30 m² studio / 1K | studio / 1K | ¥37k vs 2018 -5.3% · Wakayama: ¥37k | |
| 30–49 m² 1LDK / 2DK | 1LDK / 2DK | ¥47k vs 2018 -6.5% · Wakayama: ¥45k | |
| 50–69 m² 2LDK / 3DK | 2LDK / 3DK | ¥61k vs 2018 +2.5% · Wakayama: ¥55k | |
| 70–99 m² 3LDK / family | 3LDK / family | ¥76k vs 2018 +9.7% · Wakayama: ¥64k | |
| 100–149 m² mostly houses | mostly houses | ¥57k vs 2018 -4.5% · Wakayama: ¥52k | |
| 150 m² + mostly houses | mostly houses | ¥60k vs 2018 +4.0% · Wakayama: ¥53k |
- Rent per m²
- ¥1,215
- median, per month · Wakayama: ¥1,131
- The median used condo (¥18.0M, 65 m²) costs about 25 years of average rent for a similar-sized home (¥61k 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. 36,070 rented homes.
What the data says
Price growth is speeding up
Condo values per m² have risen about 5.8% a year over the past five years, faster than the 2.7% a year of the five years before. Buyers waiting for a dip have so far been paying more each year, and that has not yet changed.
Moving with Wakayama
Per m², condos here are priced close to the Wakayama average. That position has barely changed in ten years, so it moves with the wider market.
Being near a station is worth a lot
Condos within a 5-minute walk of a station sell for about 32% more per m² than those 11–15 minutes away. If budget is tight, a longer walk is the quickest way to cut the price.
A family market
57% of recent condo sales have three or more bedrooms. Demand comes mainly from owner-occupier families, which tends to make prices steadier but rental yields lower.
Sales are thinning out
Transactions are down about 15% on the previous three years. Fewer sales mean less choice and slower resale, so allow more time to sell later.
What a typical purchase costs
Half of all condo sales last year were between ¥6.5M and ¥24.0M. Listings outside that range are either unusual properties or worth a closer look.
A shrinking population
The population fell 4.1% between 2020 and 2025 (−6.3% for the wider area). Moves in and out roughly balanced in 2025.
Many abandoned homes
19.9% of homes were empty in 2023 (21.3% for the wider area), and 9% were empty without being for rent, for sale or used as second homes. That is a high share of truly abandoned homes (akiya), a sign of weak demand. Cheap houses are easy to find, but resale can be slow.
Buying vs renting
A median used condo costs about 31.8 years of the area's median rent (¥47k a month), compared with 34.3 years for the wider area. Prices are high relative to rents, so rental yields are thin and buyers are paying for expected growth. Rents here cover all rented homes, so treat this as a rough guide.
High earthquake risk
The government's seismic model gives a 71% chance of shaking of intensity 6-lower or stronger in the next 30 years (59% for the wider area). Check the building's earthquake standard (post-1981, ideally post-2000 for wooden houses) and consider earthquake insurance.
A typical condo costs 4.8 years of local income
Taxpayers here reported an average taxable income of ¥3.7m in 2023 (¥3.4m for the wider area). That is +16% since 2014. The median resale condo sold for about 4.8 times that, against 5.3 times for the wider area. A higher multiple means prices lean more on buyers from outside the area or on two incomes. Averages are pulled up by a few very high earners, so a typical household earns less than this.
Official land prices are still falling
On the government's fixed benchmark sites, which are valued the same way every year, residential land prices changed 0% in the year to January 2026 and -2% over five years. They are still 69% below their 1991 bubble-era level. Because these sites don't change, this is the cleanest measure of land value trends.
Significant flood risk
Of the official land-price benchmark sites here, which sit in typical neighbourhoods, 74% are inside the worst-case flood zone, 29% are in a tsunami inundation zone. Most worst-case flood zones are shallow (under 0.5 m) at the edges, so depth matters as much as the share. Check the hazard map for any specific address before buying.
Living in Wakayama City: people, homes and risks
- Population 2025
- 341,947
- -4.1% since 2020
- Wakayama: -6.3%
- Net moves in 2025
- -577
- -1.69 per 1,000 residents
- Wakayama: -3.25
- Vacant homes (2023)
- 19.9%
- 9.0% empty and not for rent or sale
- Wakayama: 21.3%
- Median rent (2023)
- ¥47k
- per month, all rented homes
- Wakayama: ¥44k
- Strong earthquake risk
- 70.8%
- chance of shaking of intensity 6-lower or more within 30 years
- Wakayama: 58.6%
- Average income per taxpayer
- ¥3.7M
- taxable income in 2023
- Wakayama: ¥3.4M
- Daytime population
- 104
- people here by day per 100 residents (2020 census)
- Foreign residents
- 1.3%
- 4,571 registered residents in 2024
- Wakayama: 1.1%
- Clinics
- 12.5
- per 10,000 residents; 37 hospitals, 228 dental clinics (2020)
- Wakayama: 11.9
- Official land price 2026
- ¥49k/m²
- -0.1% in a year · -1.6% in 5 years
- Wakayama: ¥32k/m²
- Flood exposure
- 74.3%
- of 70 benchmark sites in a worst-case flood zone (0.0% 3 m or deeper)
- Wakayama: 54.7%
- Tsunami exposure
- 28.6%
- of 70 benchmark sites in a tsunami inundation zone
- Wakayama: 33.7%
- Landslide exposure
- 1.4%
- of 70 benchmark sites in a landslide warning area
- Wakayama: 11.6%
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 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
¥5.0M
¥77k/m²
- Minatogoten
- Wakayamako · 19 min walk
- 3LDK · 65 m²
- Built 1990 (35 yrs) · RC
¥11.0M
¥183k/m²
- Minatohommachi
- Wakayamashi · 6 min walk
- 3LDK · 60 m²
- Built 1985 (41 yrs) · SRC
¥25.0M
¥417k/m²
- Mikimachi
- Wakayama · 19 min walk
- 2LDK · 60 m²
- Built 2020 (6 yrs) · RC
House
¥3.0M
¥32k/m²
- Musota
- Musota · 21 min walk
- Land 155 m² · floor 95 m²
- Built 1990 (36 yrs) · Wood
¥9.3M
¥64k/m²
- Kinomoto
- Hachimammae(Wakayama) · 29 min walk
- Land 410 m² · floor 145 m²
- Built 1986 (39 yrs) · Steel
¥31.0M
¥310k/m²
- Kitsunejima
- Higashi Matsue(Wakayama) · 18 min walk
- Land 145 m² · floor 100 m²
- Built 2026 (0 yrs) · Wood
Show data table
| Year | Condo | House |
|---|---|---|
| 2007 | ¥8.5M | ¥21.0M |
| 2008 | ¥10.5M | ¥20.0M |
| 2009 | ¥14.0M | ¥18.0M |
| 2010 | ¥13.0M | ¥20.0M |
| 2011 | ¥14.0M | ¥20.0M |
| 2012 | ¥8.9M | ¥20.0M |
| 2013 | ¥8.4M | ¥18.0M |
| 2014 | ¥9.0M | ¥18.0M |
| 2015 | ¥8.8M | ¥15.0M |
| 2016 | ¥7.0M | ¥16.0M |
| 2017 | ¥13.0M | ¥16.0M |
| 2018 | ¥14.0M | ¥18.0M |
| 2019 | ¥11.0M | ¥18.0M |
| 2020 | ¥8.8M | ¥18.0M |
| 2021 | ¥13.0M | ¥16.0M |
| 2022 | ¥10.0M | ¥14.0M |
| 2023 | ¥12.0M | ¥13.0M |
| 2024 | ¥12.0M | ¥10.0M |
| 2025 | ¥18.0M | ¥10.0M |
| 2026 (partial) | – | ¥10.0M |
Show data table
| Year | Condo | House | Land |
|---|---|---|---|
| 2007 | ¥149k/m² | ¥181k/m² | ¥60k/m² |
| 2008 | ¥167k/m² | ¥152k/m² | ¥60k/m² |
| 2009 | ¥213k/m² | ¥140k/m² | ¥57k/m² |
| 2010 | ¥200k/m² | ¥164k/m² | ¥60k/m² |
| 2011 | ¥200k/m² | ¥168k/m² | ¥50k/m² |
| 2012 | ¥137k/m² | ¥155k/m² | ¥51k/m² |
| 2013 | ¥153k/m² | ¥154k/m² | ¥53k/m² |
| 2014 | ¥155k/m² | ¥133k/m² | ¥51k/m² |
| 2015 | ¥153k/m² | ¥127k/m² | ¥50k/m² |
| 2016 | ¥126k/m² | ¥122k/m² | ¥47k/m² |
| 2017 | ¥200k/m² | ¥130k/m² | ¥42k/m² |
| 2018 | ¥236k/m² | ¥144k/m² | ¥50k/m² |
| 2019 | ¥183k/m² | ¥136k/m² | ¥53k/m² |
| 2020 | ¥168k/m² | ¥132k/m² | ¥55k/m² |
| 2021 | ¥209k/m² | ¥116k/m² | ¥50k/m² |
| 2022 | ¥168k/m² | ¥102k/m² | ¥47k/m² |
| 2023 | ¥200k/m² | ¥94k/m² | ¥46k/m² |
| 2024 | ¥200k/m² | ¥76k/m² | ¥51k/m² |
| 2025 | ¥267k/m² | ¥71k/m² | ¥53k/m² |
| 2026 (partial) | – | ¥71k/m² | ¥56k/m² |
Show data table
| Building age (years) | Condo | House |
|---|---|---|
| 0 | – | ¥277k/m² |
| 1 | – | ¥263k/m² |
| 4 | – | ¥257k/m² |
| 5 | – | ¥221k/m² |
| 7 | – | ¥224k/m² |
| 9 | – | ¥168k/m² |
| 14 | ¥289k/m² | ¥167k/m² |
| 15 | – | ¥150k/m² |
| 16 | ¥300k/m² | ¥156k/m² |
| 17 | ¥344k/m² | ¥152k/m² |
| 18 | – | ¥146k/m² |
| 19 | ¥294k/m² | ¥117k/m² |
| 20 | ¥251k/m² | ¥107k/m² |
| 21 | ¥255k/m² | ¥137k/m² |
| 22 | ¥200k/m² | ¥145k/m² |
| 23 | ¥213k/m² | ¥123k/m² |
| 24 | – | ¥92k/m² |
| 25 | – | ¥71k/m² |
| 26 | – | ¥96k/m² |
| 27 | – | ¥81k/m² |
| 28 | – | ¥65k/m² |
| 29 | – | ¥80k/m² |
| 30 | ¥83k/m² | ¥101k/m² |
| 31 | ¥103k/m² | ¥81k/m² |
| 32 | ¥118k/m² | ¥90k/m² |
| 33 | ¥104k/m² | ¥75k/m² |
| 34 | ¥104k/m² | ¥70k/m² |
| 35 | ¥108k/m² | ¥75k/m² |
| 36 | – | ¥49k/m² |
| 37 | – | ¥53k/m² |
| 38 | – | ¥58k/m² |
| 39 | – | ¥50k/m² |
| 40 | – | ¥54k/m² |
| 41 | – | ¥47k/m² |
| 42 | – | ¥42k/m² |
| 43 | – | ¥42k/m² |
| 44 | – | ¥40k/m² |
| 45 | – | ¥43k/m² |
| 46 | – | ¥41k/m² |
| 47 | – | ¥44k/m² |
| 48 | – | ¥41k/m² |
| 49 | – | ¥36k/m² |
| 50 | – | ¥42k/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 | ¥97k/m² | ¥121k/m² | ¥229k/m² | – |
| 2008 | ¥73k/m² | ¥99k/m² | ¥236k/m² | – |
| 2009 | ¥84k/m² | ¥97k/m² | ¥231k/m² | – |
| 2010 | ¥65k/m² | ¥100k/m² | ¥229k/m² | ¥246k/m² |
| 2011 | ¥75k/m² | ¥81k/m² | ¥181k/m² | ¥238k/m² |
| 2012 | ¥57k/m² | ¥94k/m² | ¥170k/m² | ¥240k/m² |
| 2013 | ¥63k/m² | ¥96k/m² | ¥165k/m² | ¥235k/m² |
| 2014 | ¥60k/m² | ¥89k/m² | ¥158k/m² | ¥239k/m² |
| 2015 | ¥51k/m² | ¥76k/m² | – | ¥240k/m² |
| 2016 | ¥69k/m² | ¥80k/m² | – | ¥252k/m² |
| 2017 | ¥53k/m² | ¥77k/m² | ¥166k/m² | ¥242k/m² |
| 2018 | ¥62k/m² | ¥76k/m² | – | ¥232k/m² |
| 2019 | ¥47k/m² | ¥71k/m² | ¥139k/m² | ¥241k/m² |
| 2020 | ¥52k/m² | ¥74k/m² | ¥142k/m² | ¥240k/m² |
| 2021 | ¥43k/m² | ¥72k/m² | ¥137k/m² | ¥235k/m² |
| 2022 | ¥45k/m² | ¥84k/m² | ¥146k/m² | – |
| 2023 | ¥41k/m² | ¥68k/m² | ¥154k/m² | – |
| 2024 | ¥39k/m² | ¥66k/m² | ¥145k/m² | – |
| 2025 | ¥38k/m² | ¥62k/m² | ¥139k/m² | – |
| 2026 (partial) | ¥48k/m² | ¥52k/m² | – | – |
Prices near train stations in Wakayama 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) |
|---|---|---|---|---|---|---|
| Miyamae (宮前) | ¥17.5M | ¥244k/m² | ¥13.0M | 18 | 126 | 3,190-4% vs 2019 |
| Wakayamashi (和歌山市) | ¥19.5M | ¥264k/m² | ¥13.0M | 16 | 124 | 19,710-5% vs 2019 |
| Wakayama (和歌山) | ¥19.0M | ¥280k/m² | ¥20.0M | 11 | 121 | 34,845-15% vs 2019 |
| Kimiidera (紀三井寺) | – | – | ¥9.7M | 18 | 105 | 3,690-13% vs 2019 |
| Kinokawa (紀ノ川) | ¥5.2M | ¥97k/m² | ¥9.0M | 15 | 99 | 2,548-9% vs 2019 |
| Musota (六十谷) | – | – | ¥5.0M | 21 | 63 | 6,340-8% vs 2019 |
| Kii Nakanoshima (紀伊中ノ島) | – | – | ¥11.0M | 13 | 60 | 1,022+10% vs 2019 |
| Wakayamako (和歌山港) | – | – | ¥9.0M | 20 | 55 | 445-7% vs 2019 |
| Higashi Matsue(Wakayama) (東松江(和歌山)) | – | – | ¥7.8M | 15 | 52 | 858-9% vs 2019 |
| Nichizengu (日前宮) | – | – | ¥12.0M | 12 | 51 | 490-27% vs 2019 |
| Hachimammae(Wakayama) (八幡前(和歌山)) | – | – | ¥8.9M | 11 | 46 | 1,293-13% vs 2019 |
| Wakayamadaigakumae (和歌山大学前) | – | – | ¥35.0M | 24 | 43 | 9,174-5% vs 2019 |
| Kii (紀伊) | – | – | ¥14.5M | 14 | 37 | 6,720-13% vs 2019 |
| Tanakaguchi (田中口) | – | – | ¥9.8M | 6 | 36 | 156-2% vs 2019 |
| Nishinosho (西ノ庄) | – | – | ¥6.4M | 8 | 33 | 639-4% vs 2019 |
Used condo prices by layout in Wakayama City
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 City?
The median used condo (mansion) in Wakayama City sold for ¥18.0M in 2025, about ¥267k/m², based on 73 recorded sales.
How much does a house cost in Wakayama City?
The median house sale, including the land, was ¥10.0M in 2025 across 379 sales.
Are property prices in Wakayama City going up?
Over the five years to 2025, condo prices per m² changed +58.7% and residential land prices changed -3.6%.
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.