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Official Average Roadside Land Prices of Japan and Tokyo 2014

Post: Friday July 11, 2014

On July 1 the National Tax Agency released the average roadside land price in 2014 (as of January 1) and all the areas around Tokyo rose. The price average in Tokyo rose 1.8%; it was the first increase in prices since 2008.

 

路線価


Though the Tokyo land prices showed signs of recovery, the national average price has continued its 6 years consecutive downward trend. Experts analyze that the increase in Tokyo results from the economy’s recovery by Abenomics effect and an increase of purchases of condominiums for investment.

 

The highest roadside value nationwide is 23,630,000Yen per square meter in front of the store “ Kyukyodo” in Chuo ward in Tokyo. This has been the highest priced space in Tokyo for 29 consecutive years.

 

Ginza Kyu Kyodo

Ginza Kyukyodo

 

 

Land prices also went up in the neighboring Kachidoki in Chuo ward where many new high rise condominiums are being developed. The Kachidoki area is close to where the athlete's village and facilities of Tokyo Olympics in 2020 will be, and is drawing attention due to the hopes for an improvement of the infrastructure in that area.

 

The highest rise in roadside value in Tokyo marked 9.8% along the “Shinjuku-Dori (Street)” in 3-Chome, Shinjuku, Shinjuku Ward. This resulted mostly from the opening of the direct link of Tokyu Toyoko Line and Fukutoshin Line and new link to Shinjuku 3-chome station.

 

 

Highest Roadside Value in major Tokyo tax offices in 2014

 

(Per square meter per 1000Yen, the rate rise in % shown in parentheses, in order by tax office) 

 

 Local tax office 

 

 Roadside Name

 Roadside Value

 1.

 Kyobashi

 5-Chome, Ginza, Chuo-Ward

 Ginza Chuo-Dori Street

 23,600

 (9.7)

 2.

 Kojimachi

 2-Chome, Marunouchi, Chiyoda- Ward  Daimyoukouji Street

 19,690

 (6.3)

 3.

 Shinjuku

 3-Chome, Shinjuku, Shinjuku-Ward

 Shinjuku-Dori Street

 17,040

 (9.8)

 4.

 Yotsuya

 3-Chome, Shinjuku, Shinjuku-Ward

 Shinjuku-Dori Street

 15,200

 (9.8)

 5.

 Shibuya

 Udagawa-cho, Shibuya-Ward  

 Shibuya Station Side Dori Steet

 14,560

 (7.1)

 6.

 Nihonbashi

 1-Chome, Yaesu, Chuo-Ward

 Sotobori-Dori Street

 14,080

 (6.0)

 7.

 Shiba

 2-Chome, Shimbashi, Minato-Ward

 Shimbashi Station West-exit  Square Dori Street

 7,970

 (5.7)

 8.

 Azabu

 3-Chome, Kita-Aoyama, Minato-Ward

 Aoyama-Dori Street

 7,480

 (8.1)

 9.

 Toshima

 1-Chome, Higashi-Ikebukuro,  Toshima-Ward

 Green-Odori Steet

 6,900

 (5.7)

 10.

 Ueno

 4-Chome, Ueno, Taito-Ward,

 Chuo-Dori Street

 5,760

 (3.4)

(July 2, 2014 Nikkei News Paper)

 

 


What is Average roadside land price?

Standard price as of January 1 per square meter facing major streets - released by the National Tax Agency. The price is used as a standard for calculating inheritance taxes and gift taxes. The number of locations priced for the Average roadside land price is much more than for the standard land price that is announced by Ministry of Land, Infrastructure, Transport and Tourism, and so the average roadside land price provides a more detailed picture of the real market land prices. It is at around an 80% price level of the standard land price in general and actual business transactions are calculated in the average roadside land price.

 

> Real estate pricing in Japan - 6 different land prices

 

 

Article Official Land Prices Edited 1のコピー  Lease Office Market Trends in Tokyo the first half of 2014 

 

 

 

 

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This entry was posted in Real Estate News, Market Info.

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