May and first-quarter releases postponed
The Ministry of Land, Infrastructure, Transport and Tourism announced on August 27 that it would postpone the Property Price Index for May 2026 and the first quarter, which had been scheduled for release on August 31. The ministry cited a problem in the index-calculation program and said additional time was needed to investigate the cause, calculate the index and verify the results. Releases for January through April 2026 and the fourth quarter of 2025 have also been delayed for the same reason. A new publication date will be announced once determined.
The index is based on roughly 300,000 transactions a year
Japan's Property Price Index is an important official measure because it uses approximately 300,000 real estate transaction-price records annually to track residential and commercial property values across national, regional and metropolitan categories. Unlike portal-site asking prices, the index is constructed from transaction information. It is therefore widely useful for analyzing medium- and long-term changes in Japanese property values and for comparing market conditions across regions and property types.
Investors should supplement the missing recent data
The delay reflects a statistical-production issue rather than evidence of disruption in the property market itself. Nevertheless, users should avoid treating an older index level as if it represented current prices. Other sources—including MLIT's Existing Home Sales Volume Index, housing-start statistics, transaction-price information in the Real Estate Information Library, Land Price LOOK reports and private transaction or listing datasets—can help fill the information gap. Foreign investors should pay particular attention to the observation period and publication date of any dataset used in valuation work.