Abstract
Differences of the housing market structure in Tokyo and suburbs of Tokyo are examined. Special attention is paid to the effects of property characteristics on the similarity between properties. In Tokyo, the walking time to the nearest railway station, the availability of garage space and the necessity of setback have considerable impacts on the similarity. On the contrary, in suburbs of Tokyo, the age of the property, the accessibility to the CBD, the designated floor area ratio and the land use are important to the similarity. The size of the property, the width of the road in front of the property, whether the property is newly built, the structure, the direction of connecting roads and the irregularity of the lot have comparable effects on the similarity in both areas.
