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Real estate pricing in Japan - 6 different land prices Japanese of this page

Post: Thursday October 9, 2014

The land price in Japan has 6 different variations depending on the evaluation purpose and the research conductor.

The reason why so many different price names are used is because the land price is decided by multiple factors such as land condition, purpose of usage, who wants the land, and so on. Hence this has resulted in the following different prices depending on purpose and evaluation methods.

Price namesDetails

Market Price

  • Quoted market price based on actual land transaction.
  • Quoted and evaluated from recent actual transaction prices, asking prices, and opinions of realtors for the intended area of land.

Official Land Price

Research Conductor :

Ministry of Land, Infrastructure, Transport and Tourism

Reference Date (Announcement Date) :

January 1st every year (Around March 20th every year)

  • Public price index for land transaction (Spring Price).
  • Evaluated by 2 licensed real estate appraisers separately on each selected point of land mostly within the designated zone of called the 'city planning areas.'

Standard Land Price

Research Conductor :

Local Prefectural Governments

Reference Date (Announcement Date) :

July 1st every year (Around September 20th every year)

  • Public price index for land transaction (Autumn Price).
  • Same as the Official Land Price but the selected points of land include various land zones outside of the 'city planning areas.'

Roadside Land Price

Research Conductor :

National Tax Agency

Reference Date (Announcement Date) :

January 1st every year (early August every year)

  • Used for evaluating inheritance taxes and gift taxes.
  • Decided by referencing the Official Land Price, actual transactions, and evaluations by licensed real estate appraisers. A rough indication is 80% of Official Land Price.

Assessed value of fixed assets

Research Conductor :

Municipal Governments

Reference Date (Announcement Date) :

January 1st every 3 years (early April every year)

  • Used for calculation of Property tax, City planning tax, Real estate acquisition tax, and Registration and License tax.
  • Decided by Property Tax Evaluation Standard made by the Japanese government. A rough indication is 70% of Official Land Price.

Appraised value

  • Individual land price evaluated by a licensed real estate appraiser upon specific request. Price range tends to vary widely depending on the time of evaluation.

When we classify the above, the 4 prices of Official Land Price, Standard Land Price, Roadside Land Price, and Assessed value of fixed assets can be catalogued in the public price index. Among these, the Roadside Land Price and Assessed value of fixed assets are for tax purposes. Property tax is imposed on assets and is calculated by a valuation based on the Evaluation Standard. Inheritance tax and Gift tax is imposed on the transfer of assets and is evaluated by the Roadside Land Price.

For actual transactions, the Market Price is used. The market price is a competitive price usually decided by a realtor based on evaluating recent actual transactions within the vicinity, the shape of the land, accessibility to a road, location, and other positive and negative factors.

Televised Real Estate Investments By Foreigners

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This entry was posted in Real Estate News


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