Kawasaki saw the biggest swing towards rent cuts of the seven cities (sale prices -0.89%)
A sudden turn towards rent cuts
In Kawasaki in September, sale asking prices moved -0.89% on a matched-listing basis and rents -0.25%.
Rents barely moved overall, but the revisions changed sharply. Of 5,713 rentals tracked, 4.8% changed their rent, and 71.6% of those changes were cuts. In August it was just over half, with cuts and rises roughly balanced. That one-month swing is the largest of the seven cities reported this month. The median cut was -3.03%. It is a single month, so read it with some caution.
At every step at least 2,939 sale listings and 2,318 rentals were matched. Units that sell or let drop out, so these figures describe listings that stayed on the market.
Sale prices: most revisions in Nakahara
Of 3,638 sale listings tracked, 18.2% changed price, the highest share of the seven cities outside Tokyo. 99.1% of the changes were cuts, with a median cut of -3.45%.
| Ward | Listings tracked | Share that moved | Of those, cuts | Median cut |
|---|---|---|---|---|
| Asao | 520 | 21.7% | 100% | -3.03% |
| Tama | 414 | 16.2% | 100% | -4.02% |
| Kawasaki | 529 | 17% | 99% | -3.45% |
| Takatsu | 500 | 18.2% | 98.9% | -3.71% |
| Nakahara | 584 | 24.8% | 98.6% | -3% |
| Miyamae | 774 | 15.2% | 98.3% | -3.7% |
In Nakahara, home of Musashi-Kosugi, nearly one listing in four moved, the highest share in the city.
Hardly any decline for 20 years
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 232 | 6.7% | ¥900k to ¥1M |
| 6-10 | 289 | 8.3% | ¥800k to ¥900k |
| 11-20 | 720 | 20.7% | ¥800k to ¥900k |
| 21-30 | 940 | 27% | ¥700k to ¥800k |
| 31-40 | 626 | 18% | ¥500k to ¥600k |
| 41+ | 676 | 19.4% | ¥400k to ¥500k |
Sale prices per m² are almost the same for buildings up to five years old, 6 to 10 years and 11 to 20 years. The decline only starts after 21 years. As in July, Kawasaki is the city where building age matters least to price.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 1,695 | 14.2% | ¥3,941 |
| 6-10 | 1,438 | 12% | ¥3,714 |
| 11-20 | 2,753 | 23% | ¥3,534 |
| 21-30 | 1,785 | 14.9% | ¥3,065 |
| 31-40 | 3,276 | 27.4% | ¥2,539 |
| 41+ | 1,014 | 8.5% | ¥2,193 |
Rents fall steadily with age. With sale prices holding up, buying an older unit cheaply to let out is harder in Kawasaki than elsewhere. You can calculate the yield for a property, or model long-term value.
What is on the market
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 3LDK | 1,681 | 48.3% | ¥700k to ¥800k |
| 2LDK | 473 | 13.6% | ¥600k to ¥700k |
| 4LDK | 420 | 12.1% | ¥500k to ¥600k |
| 2LDK+S | 296 | 8.5% | ¥600k to ¥700k |
| 3LDK+S | 178 | 5.1% | ¥600k to ¥700k |
| 1LDK | 96 | 2.8% | ¥700k to ¥800k |
| 3DK | 58 | 1.7% | ¥300k to ¥400k |
3LDKs make up nearly half of sale listings. More than half of rentals are 1Ks.
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 1K | 7,510 | 51.3% | ¥3,612 |
| Studio | 2,238 | 15.3% | ¥3,501 |
| 1LDK | 1,133 | 7.7% | ¥2,962 |
| 2LDK | 954 | 6.5% | ¥2,649 |
| 2DK | 760 | 5.2% | ¥2,019 |
| 1DK | 686 | 4.7% | ¥3,069 |
| 3LDK | 451 | 3.1% | ¥2,671 |
| 2K | 397 | 2.7% | ¥2,318 |
| 3DK | 183 | 1.2% | ¥1,828 |
| 2SLDK | 99 | 0.7% | ¥2,911 |
| 1SLDK | 72 | 0.5% | ¥3,224 |
| 4LDK | 53 | 0.4% | ¥2,122 |
Levels
In September the median sale listing asked 4,980 man-yen and the median rental 9.6 man-yen a month, or 3,570 yen per m². Medians move with the mix of listings; read them as a level.
About this data
We observed sale listings on 4 days and rentals on 4 days in September, recording 13,575 and 43,132 listings. These are asking prices, not closing prices.
Kawasaki's matched record starts on 2026-09-01, so this report shows September only. Rents are not broken down by ward because only one ward has enough listings. Building age is stated on 81.7% of rental listings.