Niigata City tops gross yield residential property rankings in 1st half 2025 says Kenbiya

Earlier in July, Kenbiya, a real estate investment and income property information website focusing on income earning real estate, compiled newly listed properties registered on the site between January and June 2025.

The average prices and yields displayed below are averages meant to illustrate trends and in no way guarantees pricing or yield performance.  Real estate is a hyper-local venture so always consult a licensed realtor for your property specific needs.

The survey analyzed the average yields of residential income properties - strata-title condominiums, wood-frame apartment buildings, and reinforced concrete multifamily buildings - across Japan’s “cities designated by government ordinance of Japan”

These designated cities are large municipalities granted special administrative authority by the national government under Japan’s Local Autonomy Act. To qualify, a city must have a population of at least 500,000 and is delegated many prefectural-level functions, such as urban planning and public health administration.

There are currently 20 such cities nationwide.

Kenbiya 2025 First Half Residential Income-Earning Gross Yield Rankings

1st half 2025 designated city residential real estate average gross yield rankings. Table provided by Kenbiya, translated by Patience Realty.

Why Tokyo isn’t on the list?

Tokyo is not counted among the “designated cities” because it has a unique legal status as a metropolitan prefecture.

Unlike other prefectures, Tokyo combines the functions of a prefectural government with those of 23 special wards (ku), each of which operates like an individual city.

This special structure means Tokyo doesn’t need to be classified as a designated city under the Local Autonomy Act.

Source: 

Kenbiya (Japanese only)