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Official Land Prices of Tokyo, Japan in 2015 Japanese of this page

Post: Tuesday March 31, 2015   Author : plazahomes

On March 18th the Ministry of Land, Infrastructure, Transport and Tourism announced the official land prices as of January 1st, 2015. The data points to an end to the 7 year consecutive nation-wide drop in commercial area prices, and also a decreased drop for all land areas. A brief overview shows that the three major cities of Tokyo, Osaka, and Nagoya have increased for 2 consecutive years while the price has continuously dropped in other regional areas. The trend shows that domestic money flow by monetary easing and an increase of overseas money due to the weak yen are concentrated into properties in the major cities.



In Tokyo, the rate of the rising prices has increased for 2 consecutive years in the residential, commercial, and industrial areas and the same result has been made also for the average of all areas. The commercial areas in Tokyo have shown the largest price increase by prefectural comparison, and prices of residential areas have continued a slow and steady increase.

The commercial areas in Tokyo had an increase of 2.9% which is the largest increase by prefectural comparison, and is higher by 0.6% from the 2.3% rise last year. In the 23 wards of Tokyo, the same areas have shown a 3.4% rise which is a 0.7% increase from 2.7% of last year. The highest increase from the last year within the 23 wards is a 7.4% (4.7% last year) increase in Chuo-ku, followed by 5.7% (4.2%) in Chiyoda-ku and 5.6% (4.4%) in Minato-ku. This year’s official land price ranking of commercial properties below shows that all of the 10 highest prices have resulted in properties in Tokyo.

The background of the trends are 1) the demand for store properties increased and the rent price went up due to the economic recovery and an increase of foreign tourists, 2) Office vacancy and rent price were improved by active relocation demand, 3) large scale redevelopment projects are active in the central Tokyo areas, and the land prices are going up in those areas.

In the residential areas, the price increase is slowing down a little from 1.4% last year to 1.3% this year, while Tokyo 23 wards average of 1.9%, is a 0.1% increase from the last year. The highest increase from the last year within the 23 wards has been marked as 6.4 % (8.4% last year) in Chuo-ku, followed by 6.3% (6.0%) in Chiyoda-ku and 6.0% (5.9%) in Minato-ku. This year’s official land price ranking of residential properties below shows that all of the 5 highest prices have resulted in properties in Tokyo.

The background of the trends are 1) steady demand due to continuous business confidence, low interest rate and expansion of tax reduction for home loans, house acquisition support policy and a system the Japanese government introduced, the “Sumai Kyufukin (literally means House Benefit)”, 2) strong demand for luxurious condominiums for wealthy class in central Tokyo, due to the recent economic recovery, weak yen, and high stock prices, 3) large scale condominiums selling well in the bay areas such as Chuo-ku and Koto-ku with expectation to infrastructure improvement towards the Olympic Games which will be held in 2020, and consequently the land prices going up in the area.




2015 Official Land Price Ranking by Property Nationwide

(Commercial Properties)


 Address (all of 10are in Tokyo)


 Fluctuation  (%from2014)


 4-5-6, Ginza, Chuo-ku

 (Main store of Yamano Music Co.)




 2-4-1, Marunouchi, Chiyoda-ku

 (Marunouchi Building)




 5-3-1, Ginza, Chuo-ku

 (Ginza Sony Building)




 7-9-19, Ginza, Chuo-ku





 2-6-7, Ginza, Chuo-ku

 (Meidi-ya Ginza Building)




 2-2-1, Otemachi, Chiyoda-ku

 (Shin Otemachi Building)




 3-24-1, Shinjuku, Shinjuku-ku

 (Mitsui Sumitomo Bank Shinjuku Building)




 3-30-11, Shinjuku, Shinjuku-ku

 (Shinjuku Takano Building No.2)




 3-3-1, Marunouchi, Chiyoda-ku

 (Shin-Tokyo Building)




 1-7-2, Otemachi, Chiyoda-ku

 (Tokyo Sankei Building)





(Residential Properties)


 Address (all 5 are in Tokyo)


Fluctuation (%from2014)


 6-1, Rokubancho, Chiyoda-ku




 1-14-11, Akasaka, Minato-ku




 6-25, Sanbancho, Chiyoda-ku




 2-3-25, Kudan-kita, Chiyoda-ku




 4-9-6, Minami-azabu, Minato-ku






What is Official Land Price?

Based on the Public Notice of Land Prices Act, the Land Appraisal Committee of the Ministry of Land, Infrastructure, Transport and Tourism selects the points of land, evaluates the price of each point of land as of January 1st every year, and announce it as a benchmark price for land transactions. The total selected points of land in Tokyo are 2,162 points in 2015 (the same as last year’s); the number of points per each purpose are 1,371 points for residential areas, 760 points for commercial areas, and 31 points for industrial areas respectively.


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

>>  6 Different Land Prices in Japan



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


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