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Okinawa’s real estate market has been benefiting from a growing population and improving tourist market. As a result, government assessed land prices have increased for the past three years.

In 2013, an apartment priced at 140 million Yen in a brand new building in Naha City had six offers, with the developer picking the lucky buyer from a raffle-type system. In 2015, a 180 sqm block of residential land in Naha’s Shuri district went under contract within a day of being listed for sale. Residential land in the popular Shuri district has increased by approximately 10,000 ~ 15,000 Yen/sqm over the past year to around 100,000 ~ 150,000 Yen/sqm (85 ~ 130 USD/sq.ft).

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