Kyoto sellers simply do not move their prices. July 2026
A market that sits still
Of the 4,951 Kyoto sale listings we could follow through July, 8.9% changed price. Fewer than one in nine.
That is the lowest of the nine cities in this month's figures. Kawasaki runs at 19.5%, Fukuoka 19.0%, Tokyo 21.4%. Kyoto's sellers touch their prices at less than half the rate of any of them.
When they do move, the direction is ordinary enough: 94.3% of the 457 revisions were cuts, with a median cut of -4.32%. What distinguishes Kyoto is not a reluctance to discount but a reluctance to act at all.
The matched-listing change of -0.58% is likewise the smallest of the nine. Of 4 observations, the most recent 1 were declines, which is a different shape from the unbroken runs seen elsewhere.
A property that sells leaves the listings and drops out of the matched set, so what remains leans toward listings that did not sell.
Only two wards clear the bar
| Ward | Listings tracked | Share that moved | Of those, cuts | Median cut |
|---|---|---|---|---|
| Fushimi | 813 | 10.6% | 94.4% | -4.78% |
| Nishikyo | 460 | 13.3% | 93.4% | -3.7% |
Because so few listings move, only Fushimi and Nishikyo carry enough revisions for a ward-level percentage to mean anything. The other wards have listings but too few price changes in July to report. That is the same finding from another angle.
An old housing stock
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 299 | 6.2% | ¥1,034,565 |
| 6-10 | 296 | 6.1% | ¥739,300 |
| 11-20 | 481 | 9.9% | ¥595,776 |
| 21-30 | 925 | 19.1% | ¥485,668 |
| 31-40 | 1,015 | 21% | ¥309,557 |
| 41+ | 1,825 | 37.7% | ¥292,035 |
Buildings over forty years old are 37.7% of Kyoto's sale listings, the highest share of the nine cities. Median price per square metre falls by about 70% from the newest band to the oldest.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 2,505 | 7.2% | ¥2,739 |
| 6-10 | 1,848 | 5.3% | ¥2,545 |
| 11-20 | 4,902 | 14% | ¥2,462 |
| 21-30 | 6,252 | 17.8% | ¥2,251 |
| 31-40 | 10,301 | 29.4% | ¥1,882 |
| 41+ | 9,218 | 26.3% | ¥1,667 |
Rents fall by under 40% across the same range. The yield case for buying older stock and letting it is correspondingly strong here; you can calculate the yield for a specific property.
A 1K city
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 1K | 21,320 | 54.6% | ¥2,227 |
| Studio | 3,574 | 9.2% | ¥2,101 |
| 1LDK | 3,536 | 9.1% | ¥2,315 |
| 1DK | 3,074 | 7.9% | ¥2,210 |
| 2LDK | 1,974 | 5.1% | ¥1,867 |
| 2DK | 1,744 | 4.5% | ¥1,450 |
| 2K | 1,563 | 4% | ¥1,680 |
| 3LDK | 796 | 2% | ¥1,743 |
| 3DK | 595 | 1.5% | ¥1,205 |
| 3K | 229 | 0.6% | ¥1,234 |
| 4K | 140 | 0.4% | ¥1,154 |
| 1SLDK | 108 | 0.3% | ¥2,735 |
| 4DK | 98 | 0.3% | ¥1,091 |
| 4LDK | 88 | 0.2% | ¥1,459 |
Of 39,053 rentals, 1K units are 54.6%, the highest share of the nine cities. A student city's housing stock, showing up directly in the composition.
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 3LDK | 1,412 | 29.1% | ¥418,841 |
| 2LDK | 748 | 15.4% | ¥526,121 |
| 4LDK | 484 | 10% | ¥316,580 |
| 3DK | 229 | 4.7% | ¥229,954 |
| 1LDK | 199 | 4.1% | ¥636,364 |
| 4DK | 196 | 4% | ¥200,627 |
| 2LDK+S | 141 | 2.9% | ¥556,497 |
| 4K | 112 | 2.3% | ¥242,645 |
| 5LDK | 107 | 2.2% | ¥279,383 |
| 3LDK+S | 101 | 2.1% | ¥424,152 |
| 3K | 94 | 1.9% | ¥202,932 |
| 5DK | 91 | 1.9% | ¥260,870 |
| Studio | 69 | 1.4% | ¥404,959 |
| 2DK | 69 | 1.4% | ¥338,636 |
| 1LDK+S | 66 | 1.4% | ¥1,034,158 |
| 1K | 65 | 1.3% | ¥466,667 |
| 4LDK+S | 62 | 1.3% | ¥394,841 |
| 5K | 54 | 1.1% | ¥298,532 |
| 6LDK | 51 | 1.1% | ¥360,724 |
| 5LDK+S | 51 | 1.1% | ¥344,359 |
Levels
The median advertised sale price was 2,980 man-yen, or 38.2 man-yen per square metre. Read it as a level rather than a trend.
About this data
We observed the market on 5 days during July, recording 24,063 sale listing observations. These are asking prices, not transaction prices.
This report carries no rental price movement. Rental collection runs newest-first and stops once it is into listings already held, so the depth reached varies day to day. The age and layout composition comes from the deepest collection day in the period. Building age is recorded on 89.7% of rentals.