Chūō-ku (中央区) recorded a 34.67% price increase over the three years to April 2026, the strongest appreciation of any central Tokyo ward over that period. Ginza sits at the core of that run. The official posted land price for Ginza 5-chōme on Chūō-dōri reached ¥33,200,000 per square metre in the 2025 国土交通省 (Ministry of Land, Infrastructure, Transport and Tourism) 地価公示 (chika kōji, the annual official land price survey), a figure that sets the context for every residential transaction in the district. For foreign buyers considering a purchase, the numbers are specific, the costs are layered, and the exit mechanics are frequently misunderstood. This article covers all three.

What Ginza Apartments Actually Cost in 2026

The Ginza residential market divides cleanly into two tiers: older mid-size マンション (manshon, Japanese usage meaning freehold condominium, not ‘mansion’ in the English sense) built in the early 2000s, and newer boutique completions on the district’s fringe.

In the resale market, CentralGinza (中央区銀座1丁目), a 22-year-old building, illustrates the current floor. Compact 1K units of 23 to 27 m² are currently valued at ¥31.21 million to ¥33.26 million, implying a unit price of roughly ¥1.35 million per m². Larger 1K and 1LDK units approaching 40 m² reach up to ¥66.42 million, at approximately ¥1.65 million per m². Both figures sit 21% below the surrounding Ginza submarket average of ¥1.70 million per m², confirming that older, smaller-format stock trades at a discount relative to newer and larger units in the same postal district.

On the new-build fringe, MODIER GINZA EAST (中央区新富1丁目, completed January 2026) is a 10-storey, 18-unit boutique reinforced-concrete building completed three minutes on foot from Shintomicho Station. Its rental pricing implies purchase valuations consistent with the broader Ginza fringe range: a 1LDK of 36.64 m² leases at ¥245,000 per month plus ¥10,000 管理費 (kanri-hi, monthly building management fee), while a 2LDK of 50.04 m² reaches ¥300,000 to ¥320,000 per month. Ginza-adjacent completions in Shintomicho, Tsukiji (築地), and Hatchobori (八丁堀) typically price 15 to 25% below core Ginza on a per-m² basis while drawing equivalent rental demand.

For a broader view of how Ginza prices compare across Tokyo’s central wards, the 2026 overview of Tokyo apartments for sale provides ward-by-ward context.

Rental Yields and the Rent Growth Story

Gross rental yields in Ginza currently sit at approximately 3.0 to 3.5%, thin by any international comparison. A buyer paying ¥66 million for a 40 m² unit and collecting ¥190,000 to ¥203,000 per month in rent is working with a gross yield of roughly 3.5% before management fees, fixed-asset tax, and vacancy. That number will not satisfy investors benchmarking against London or Sydney.

The more relevant data point for long-term holders is rent trajectory. LIFULL HOME’S rental transaction data across 347 transactions at CentralGinza from 2013 to 2026 shows the following progression for a standard 40 m² unit: ¥158,000 to ¥165,000 per month in 2013 to 2015, rising to ¥165,000 to ¥182,000 in 2017 to 2019, then ¥175,000 to ¥189,000 in 2022 to 2023, and ¥190,000 to ¥203,000 in 2025 to 2026. Compact 23 m² units followed a similar arc, from ¥91,000 to ¥113,000 a decade ago to ¥133,000 to ¥151,000 today. Rent for compact Ginza units has risen 40 to 50% over a decade, with the steepest acceleration after 2022.

The forward-looking picture is more cautious. The Chūō-ku age-curve depreciation model projects a 2.1% decline in unit values from current levels by year three, and 5.6% by year eight, for existing stock. Buyers acquiring older buildings at today’s prices should factor that trajectory into holding-period assumptions.

Ginza Station Apartments For Sale listings on realestate.co.jp currently show a range from ¥90 million for a 40.92 m² unit in an 11-storey building completed in 2004, up to ¥628 million for a 200.97 m² house in the same district, illustrating the breadth of what ‘Ginza’ covers as a search category.

Acquisition Costs Every Foreign Buyer Must Budget

The purchase price is only one line item. Foreign buyers consistently underestimate the cost stack that sits on top of it.

不動産取得税 (fudōsan shutoku-zei, real estate acquisition tax) is levied at 3% of the 固定資産税評価額 (kotei shisan-zei hyōka-gaku, the assessed value set by the municipality, typically 60 to 70% of market price) for residential property. On a ¥100 million purchase, the assessed value might be ¥65 million, producing an acquisition tax of approximately ¥1.95 million. 登録免許税 (tōroku menkyozei, registration and license tax) applies at 0.4% on the ownership transfer recorded at the 法務局 (hōmu-kyoku, the Legal Affairs Bureau), and at 2.0% if a mortgage is registered against the title. The 登記 (tōki, the transfer of legal title recorded at the Legal Affairs Bureau) step is non-negotiable and non-waivable. 仲介手数料 (chūkai tesūryō, the agency fee) is capped by statute at (sale price × 3% + ¥60,000) × 1.1 for 消費税 (shōhizei, consumption tax). On a ¥300 million transaction that produces a maximum fee of approximately ¥9.9 million. 印紙税 (inshi-zei, stamp duty) on the purchase contract ranges from ¥10,000 to ¥60,000 depending on contract value. The 軽減税率 (reduced rate under the 租税特別措置法, Special Taxation Measures Act) applies through March 2027, so buyers transacting before that date benefit from the lower schedule.

Ongoing holding costs include 固定資産税 (kotei shisan-zei, fixed-asset tax) at 1.4% of assessed value annually, plus 都市計画税 (toshi keikaku-zei, city planning tax) at 0.3% of assessed value. Ginza sits within the 市街化区域 (shigaika kuiki, urbanisation promotion zone), so both taxes apply. Add ¥10,000 to ¥20,000 per month in 管理費・修繕積立金 (kanri-hi and shūzen tsumitate-kin, the monthly management fee and long-term repair reserve) for a residential unit in this tier.

The Non-Resident Tax Trap at Exit

The acquisition cost stack is well-documented. The exit mechanics are less so, and this is where foreign buyers most frequently encounter surprises.

When a non-resident seller disposes of Japanese real estate, 譲渡所得税 (jōto shotoku-zei, capital gains tax) applies at 20.315% for properties held more than five years, and at 39.63% for properties held five years or less. Those rates apply to the net gain after deducting acquisition cost and improvement expenditure.

The more operationally significant rule is 源泉徴収 (gensen chōshū, withholding at source). Under Article 212 of the 所得税法 (Shotoku-zei-hō, the Income Tax Act), if a non-resident seller disposes of Japanese real estate at a price exceeding ¥100 million, the buyer is legally required to withhold 10.21% of the total purchase price at closing and remit it directly to the 国税庁 (Kokuzei-chō, the National Tax Agency). This is not a tax on the gain. It is a withholding on the gross sale price. On a ¥300 million transaction, the buyer retains ¥30.63 million and forwards it to the NTA. The seller then files a Japanese tax return to recover the portion that exceeds the actual tax liability.

For a foreign buyer who later becomes a foreign seller, this mechanism requires advance planning: maintaining a Japanese tax representative, retaining acquisition records for cost-basis documentation, and understanding that closing proceeds will not be received in full on the day of signing.

Buyers at the ¥300 million level benefit from having a licensed 宅建士 (takken-shi, Japan’s licensed real-estate transaction specialist) who understands this withholding obligation from the buyer’s side as well, since the buyer bears the legal duty to withhold and remit. At Koukyuu, a licensed takken-shi personally manages every stage of the transaction, from the initial brief through the 重要事項説明 (jūyō-jikou-setsumei, the statutory pre-contract disclosure meeting) to the final 登記 transfer, which is the model that provides continuity on precisely these kinds of cross-border compliance points.

Ginza vs. the Broader Luxury Market: A Calibration

Ginza’s appeal to foreign buyers rests on a specific set of attributes: name recognition, central location, and liquidity relative to more residential neighborhoods. What it does not offer is the residential depth of Azabu (麻布), Hiroo (広尾), or Shirokane (白金), where larger floor plates, proximity to international schools, and lower commercial density make for a different ownership experience.

The practical implication for buyers at the ¥300 million threshold is that Ginza’s inventory at that level is thin. The district skews toward compact units and commercial mixed-use. A 3LDK of 90 m² or above in Ginza proper is uncommon in the resale market. The Tokyo Twin Parks Left Wing in the Shiodome (汐留) adjacency, listed at ¥298 million for an 89.77 m² 3LDK, sits at the upper edge of what the immediate area produces in residential scale.

Buyers seeking comparable prestige addresses with larger residential floor plates and more consistent supply at ¥300 million and above tend to look at Minami-Aoyama (南青山), Nishi-Azabu (西麻布), or the Roppongi Hills (六本木ヒルズ) and Azabudai Hills (麻布台ヒルズ) complexes. For reference, a 2LDK at Park Court Jingu Kita-Sando The Tower is currently listed at ¥490 million, and a 3LDK at Brillia Ichibancho at ¥399.9 million, both illustrating the price range and floor-plate scale available in the broader central Tokyo luxury tier.

Mortgage Access and Visa Considerations for Foreign Buyers

Foreign nationals can purchase real estate in Japan without restriction regardless of visa status. Ownership rights are identical to those of Japanese citizens. The practical constraint is financing.

Japanese banks extend mortgage products to non-residents and non-citizens, but the terms narrow considerably outside of 永住権 (eijūken, Japanese permanent residency) or a long-term spousal visa. Most major banks require either permanent residency or a minimum of three to five years of Japanese tax residency for standard mortgage products. Non-resident buyers without those qualifications typically finance through overseas lenders using the Japanese property as collateral, or purchase without leverage.

For buyers in the ¥300 million range who are financing from overseas, the currency exposure is a material consideration. The yen’s trajectory since 2022 has added a layer of complexity to dollar- or euro-denominated buyers calculating their effective cost basis and eventual repatriation proceeds. That calculation belongs in any serious acquisition brief alongside the tax and yield analysis.

Visa holders on engineer/specialist, intra-company transfer, or business manager categories are not restricted from buying, but their mortgage access depends on the individual bank’s underwriting criteria. The 手付金 (tetsuke-kin, the earnest-money deposit, typically 10% of the purchase price) is due at contract signing and is non-refundable if the buyer withdraws without cause, so financing confirmation should precede contract execution.

Koukyuu is a private buyer’s advisory for distinguished Tokyo residences in Roppongi Hills, Azabudai Hills, and Nishi-Azabu, focused exclusively on transactions of ¥300 million and above, with a licensed 宅建士 personally handling every stage of the engagement from the first consultation to the signing. Book a private consultation) to begin a confidential conversation about your acquisition brief.