JREI Home Price indices are released by Japan Real Estate Institute (JREI) and based on the transaction history of second-hand condos in Tokyo metropolitan (The Capital Region). Tokyo metropolitan includes Tokyo, Saitama prefecture, Kanagawa prefecture, and Chiba prefecture.
After the asset bubble burst in the 90s, real estate market had rock bottomed in Japan. Recovery was nowhere to be seen when the population began aging and birth rate was low. Although home prices went up in 2006, the increase wiped out later in 2008 during which Financial Crisis occurred.
Japanese real estate market has attracted a mass of foreign investors, especially Chinese, since 2013, because houses are relatively cheaper when interest rates and Yen are both very low. Foreigner purchasing has driven home prices up.
JREI Home Price Index (L)2020-1295.70
JREI Home Price Index (YoY, R)2020-123.08%