Shared Residence Construction Cost in Japan 2021

What is the construction cost of shared residences in Japan in terms of unit price per square meter?

In this issue of the “Special Report on Construction Costs per Square Meter,” we will introduce the construction costs of shared residences in Japan in 2020 by focusing on the unit price per square meter.

In general, the construction cost of a shared residence varies depending on the structure of the building and the region, so we will look at construction costs by prefecture and recent trends from the following perspectives.

1. Shared residence construction costs by structure
2. Construction costs of shared residences (wooden) by prefecture
3. Construction cost trends of shared residences (wooden)
4. Construction costs of shared residences (steel structure/prefabricated construction method) by prefecture
5. Construction cost trends of shared residences (steel structure/prefabricated construction method)

1. Shared residence construction costs by structure

First, a look at the construction cost of shared residences nationwide in 2020 by structure shows that for steel structures (prefabricated construction method), the cost was JPY 223,000 per square meter. On the other hand, the construction cost of wooden shared residences was JPY 164,000 per square meter, which is around JPY 59,000 per square meter lower compared to steel structures (prefabricated construction method). (See figure below)

2. Construction costs of shared residences (wooden)

Looking at the construction cost of shared residences (wooden) by prefecture shows that the highest was JPY 198,000 per square meter in Tokyo, followed by JPY 190,000 per square meter in Okinawa, JPY 188,000 per square meter in Kanagawa, and JPY 183,000 per square meter in Nara. On the other hand, the lowest unit price was JPY 137,000 per square meter in Nagasaki, Kagoshima and Miyazaki, followed by JPY 141,000 per square meter in Saga. (See figure below)

Characteristics of shared residences (wooden) include construction costs in Tokyo, Okinawa, Kanagawa, and Nara exceeding JPY 180,000 per square meter and regions excluding Tokyo having construction costs within JPY 30,000 of the national average of JPY 164,000 per square meter.

3. Construction cost trends of shared residences (wooden)

(1) The unit price per square meter has risen around 12% in the past 9 years.
Looking at the level of construction costs for shared residences (wooden) nationwide from 2011 to 2020 shows that costs have generally stayed flat between 2011, when the cost was JPY 146,000 per square meter, to 2012, when the cost was JPY 147,000 per square meter. Afterwards, the cost has been on a continuous upward trend until 2020. By 2020, the cost had reached JPY 164,000 per square meter, which is an increase of around 12.2% since 2011. (See figure below)

(2) Unit price per square meter in Tokyo continues its upward trend.
Looking at the level of construction costs for shared residences (wooden) in Tokyo shows that although prices rose from JPY 183,000 per square meter in 2012, when prices bottomed out, to JPY 192,000 per square meter in 2014, they fell for 3 consecutive years until 2017. Afterwards, they rose for 3 consecutive years to JPY 191,000 per square meter, JPY 195,000 per square meter, and JPY 198,000 per square meter in 2018, 2019, and 2020, respectively. (See figure below)

4. Construction costs of shared residences (steel structure/prefabricated construction method)

Looking at the construction costs of shared residences (steel structure/prefabricated construction method) by prefecture in 2020 shows the highest was JPY 306,000 per square meter in Okinawa, followed by JPY 268,000 per square meter in Tokyo, JPY 258,000 per square meter in Ishikawa, and JPY 245,000 per square meter in Kyoto. On the other hand, Kagawa had the lowest unit price per square meter at JPY 168,000 per square meter, followed by JPY 172,000 per square meter in Miyazaki and JPY 178,000 per square meter in Kagoshima. (See figure below)

Characteristics of shared residences (steel structure/prefabricated construction method) include construction costs in Okinawa, Tokyo, and Ishikawa being very high compared to those of other regions and exceeding JPY 250,000 per square meter. Also, unlike wooden shared residences, there are large regional differences in construction costs.

5. Construction cost trends of shared residences (steel structure/prefabricated construction method)

(1) The unit price per square meter has increased around 30% in the last 9 years.
Looking at the construction cost of shared residences (steel structure/prefabricated construction method) nationwide from 2011 to 2020 shows a continuous upward trend from JPY 172,000 per square meter in 2011 to JPY 223,000 per square meter in 2020, which is a significant increase of around 29.6% in 9 years since 2011. (See figure below)

(2) Unit price per square meter in Tokyo has increased around 27% in 8 years.
Looking at the construction cost of shared residences (steel structure/prefabricated construction method) in Tokyo shows a continuous upward trend form 2012, when the cost bottomed out at JPY 212,000 per square meter, to 2020, when the cost was JPY 268,000 per square meter. Similar to nationwide trends, construction costs have jumped significantly in the past 8 years, with an increase rate of around 26.6% since 2012. (See figure below)

This article introduced construction costs and trends per square meter for shared residences.

It is worth mentioning that acquiring construction costs using statistical data introduced in this column is suitable for grasping construction cost trends in a large market covering cities or the entire country, but is not as suitable for projects that are highly individualized or require high accuracy.

For more construction cost information, please click below.

• Construction cost for Apartment Complexes
• Construction cost for Detached Residences
• Construction cost for Rental Apartments
• Construction cost for Shared Residences
• Construction cost for Residences
• Construction cost for Office Buildings
• Construction cost for Factories
• Construction cost for Warehouses
• Construction cost for Commercial Stores
• Construction cost for Hotels
• Construction cost for Hospitals
• Construction cost for Welfare and Nursing Care Facilities
• Construction cost for Schools

Reference｜Data List

Construction Costs Per Square Meter in Japan｜Steel Structure Factories

Prefectures in Japan	Construction Costs (Unit : Thousand yen per square meter)
Tokyo	195
Okinawa	193
Fukushima	180
Kanagawa	179
Kyoto	177
Aichi	177
Yamanashi	174
Saitama	173
Mie	172
Nara	172
Tochigi	171
Iwate	170
Tottori	169
Hiroshima	168
Nagano	167
Chiba	167
Osaka	166
Yamaguchi	165
Ibaraki	164
Wakayama	163
Shizuoka	161
Gunma	161
Niigata	161
Miyagi	161
Hyogo	160
Aomori	159
Tokushima	159
Shiga	158
Fukui	157
Ehime	156
Akita	155
Okayama	153
Kochi	153
Yamagata	153
Kagawa	151
Ishikawa	149
Hokkaido	148
Shimane	146
Oita	146
Gifu	145
Fukuoka	144
Toyama	142
Kumamoto	142
Saga	141
Nagasaki	136
Kagoshima	133
Miyazaki	133
Nationwide	163

Source: Compiled based on the Statistical Survey of Building Starts (Ministry of Land, Infrastructure, Transport and Tourism) (as of 2020)