Yokohama loses its value in the first five years, then stops. July 2026
The fall is concentrated in the first five years
Sorting everything advertised for sale in Yokohama on 10 July by building age shows a decline that is anything but even. Moving from the newest band to 6-10 years takes almost 30% off the median price per square metre. From there to thirty years, it hardly moves at all.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 636 | 6.6% | ¥872,266 |
| 6-10 | 491 | 5.1% | ¥625,551 |
| 11-20 | 1,257 | 13.1% | ¥573,034 |
| 21-30 | 2,773 | 28.9% | ¥556,382 |
| 31-40 | 2,138 | 22.3% | ¥414,619 |
| 41+ | 2,293 | 23.9% | ¥381,974 |
The 6-10, 11-20 and 21-30 bands sit close together. Twenty years of ageing costs less than the first five did.
One reading is that whatever premium attached to being new is gone within a few years, and what remains is priced on location rather than on the building. Worth saying plainly, though: this is a cross-section of one month's listings, not the same properties followed as they aged.
Rents behave differently, declining gently and steadily across every band. You can explore price against building age in more detail, or calculate the yield for a specific property.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 5,701 | 16.6% | ¥3,745 |
| 6-10 | 4,685 | 13.7% | ¥3,558 |
| 11-20 | 7,114 | 20.8% | ¥3,224 |
| 21-30 | 5,280 | 15.4% | ¥2,755 |
| 31-40 | 8,290 | 24.2% | ¥2,308 |
| 41+ | 3,188 | 9.3% | ¥2,000 |
Unlike Tokyo, the wards disagree
Of the 9,994 sale listings we could follow through July, 15.7% changed price. Among those 1,623 revisions, 90.3% were cuts.
The interesting part is how much that varies by ward. In Nishi, 97.7% of revisions were cuts. In Asahi, 68.7%. That is a 29 point spread.
Across Tokyo's 23 wards the same figure sits between 87% and 100%, with every ward pointing the same way. Yokohama does not behave like that. Sellers in the centre and sellers on the edge of the city are evidently in different positions.
| Ward | Listings tracked | Share that moved | Of those, cuts | Median cut |
|---|---|---|---|---|
| Nishi | 457 | 18.4% | 97.7% | -3% |
| Aoba | 842 | 17.7% | 96.8% | -3.71% |
| Kanagawa | 695 | 17% | 96.7% | -3.23% |
| Naka | 744 | 16.7% | 95.3% | -3.41% |
| Tsurumi | 751 | 15.8% | 94.3% | -3.42% |
| 保土ケ谷区 | 526 | 12.9% | 94.1% | -3.86% |
| Minami | 614 | 17.3% | 93.6% | -3.88% |
| Kanazawa | 547 | 12.2% | 93.1% | -5.62% |
| Isogo | 572 | 14.7% | 90.3% | -4.35% |
| Kohoku | 884 | 14% | 89.6% | -3.03% |
| Konan | 603 | 14.8% | 88% | -4.59% |
| Midori | 420 | 22.4% | 85.4% | -3.71% |
| Totsuka | 743 | 14.5% | 79.1% | -3.73% |
| Asahi | 524 | 12.2% | 68.7% | -4.91% |
Asking prices are falling
Sale asking prices moved -0.82% during July on a matched-listing basis, and rents -0.55%.
Matched-listing means taking only the properties advertised in both observations and comparing each against its own previous price. The comparison never rests on fewer than 6,955 matched sale listings or 4,472 rentals.
A property that sells or lets leaves the listings and drops out of the matched set. What remains leans toward listings that did not move, which are the ones under most pressure to reduce.
What is for sale is family housing
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 3LDK | 4,054 | 42.3% | ¥495,530 |
| 4LDK | 1,604 | 16.7% | ¥432,742 |
| 2LDK | 1,423 | 14.8% | ¥541,818 |
| 2LDK+S | 503 | 5.2% | ¥580,945 |
| 3LDK+S | 280 | 2.9% | ¥476,608 |
| 1LDK | 266 | 2.8% | ¥900,452 |
| 3DK | 261 | 2.7% | ¥339,122 |
| 4LDK+S | 161 | 1.7% | ¥434,637 |
| 1LDK+S | 147 | 1.5% | ¥830,556 |
| 2DK | 136 | 1.4% | ¥432,605 |
| 5LDK | 116 | 1.2% | ¥409,182 |
| 4DK | 114 | 1.2% | ¥358,365 |
| 5LDK+S | 58 | 0.6% | ¥495,376 |
| Studio | 56 | 0.6% | ¥514,457 |
| 1DK | 52 | 0.5% | ¥469,388 |
Of 9,589 sale listings, 3LDK and 4LDK together are close to 60%. Even against Tokyo, where 2LDK and 3LDK lead, Yokohama's sale stock skews notably larger.
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 1K | 15,283 | 37.2% | ¥3,448 |
| Studio | 6,939 | 16.9% | ¥3,352 |
| 1LDK | 5,181 | 12.6% | ¥3,039 |
| 2LDK | 3,951 | 9.6% | ¥2,505 |
| 3LDK | 2,321 | 5.7% | ¥2,241 |
| 1DK | 2,093 | 5.1% | ¥3,652 |
| 2DK | 1,986 | 4.8% | ¥1,879 |
| 3DK | 867 | 2.1% | ¥1,660 |
| 2K | 824 | 2% | ¥2,108 |
| 4LDK | 334 | 0.8% | ¥2,077 |
| 1SLDK | 331 | 0.8% | ¥3,333 |
| 2SLDK | 306 | 0.7% | ¥2,567 |
| 3SLDK | 198 | 0.5% | ¥2,051 |
| 3K | 68 | 0.2% | ¥1,558 |
| 4DK | 61 | 0.1% | ¥1,634 |
| 4SLDK | 56 | 0.1% | ¥1,766 |
Of 41,049 rentals, 1K and studios are more than half. The two markets sell different products here as they do in Tokyo, but Yokohama's sale side leans further toward families.
Levels
As at 10 July the median advertised sale price was 3,580 man-yen, or 47 man-yen per square metre. The median advertised rent was 9 man-yen a month, or 3,265 yen per square metre. A median moves with the mix of what is listed, so read it as a level rather than a trend.
About this data
We observed the market on 4 days for sale listings and 4 for rentals during July, recording 36,861 and 102,426 listing observations respectively.
These are asking prices, not transaction prices.
The ward breakdown covers sale listings only. Rental collection runs newest-first and stops once it is into listings already held, so the depth reached varies day to day: enough for a city aggregate, uneven for a ward split. Composition and age bands come from the deepest collection day in the period. Building age is recorded on 83.5% of rental listings.