Real estate pricing in Japan - 6 different land prices

Poste date: Wednesday, June 7, 2017

The price of land in Japan can be broken into 6 different types depending on the purpose for the land evaluation and the type of research being conducted.

There are different types of pricing because the price of land is decided by taking multiple factors into account such as land condition, purpose of usage, who wants the land, and so on. This has resulted in the following price types that have been divided by purpose and evaluation methods.

Price Type Details

Market Price

  • Quoted market price based on an actual land transaction.
  • Quoted and evaluated from actual recent 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 plots 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 estimate 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 estimate 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.

Of the above price types, the Official Land Price, Standard Land Price, Roadside Land Price, and Assessed value of fixed assets can be catalogued in the public price index. From those 4, the Roadside Land Price and Assessed value of fixed assets are used for tax purposes. Property tax is imposed on assets and is calculated by from the appraised value depending on the Evaluation Standard used.

During an actual transaction, the market price will be used. The market price is a competitive price that is usually decided by a realtor based on evaluating recent land transactions within the vicinity, the shape of the land, accessibility to roads, its location, as well as other positive and negative factors.


Sale Property tag

The property is a condominium apartment on a hilltop very close to "the Iikura-Katamachi intersection"; which is in a four min. walk from the Roppongi intersection. It is located higher than Tokyo Midtown and Izumi Garden so that it gets outstanding open view including Tokyo Tower. It offers flexible floor plans that can be adapted to changes of life stage from single persons' use to family use. The interior design is simple and elegant. It offers high quality living space where anyone can live comfortably.

JPY 105,000,000

Sale Property tag

It stands in a quiet environment one block away from Iikura Katamachi Crossing. Izumi Garden and ARK Hills are within walking distance. It is one of the OPEN RESIDENCIA branded condominium apartments with high quality construction. It comes with full range of the latest room equipment such as a bathroom mist sauna and a dishwasher. All the dwelling units are facing south having plenty of sunlight.

JPY 54,800,000

Exterior of Clover Roppongi
Sale Property tag

JPY 40,800,000 - 255,000,000

Exterior of Open Residencia Roppongi Museum Front
Sale Property tag

7-story high grade condominium which rises in the open location overlooking The National Art Center Tokyo. It is located in quiet residential area one block away from downtown Roppongi; it is in the central Roppongi area and Tokyo Midtown and Hinokicho Park with full of green are in the neighborhood. 5 min walk to the nearest Roppongi Station, and Nogizaka Station is within walking distance. Dwelling units are mostly one room type to 2LDK desirable for single and DINKS. Security equipments are fully provided including self-locking door, security camera, and 24 hours monitoring system. Various latest equipments are enabled for safe and comfortable urban life.

JPY 64,800,000

Exterior of Century Akasaka
Sale Property tag

JPY 128,000,000

Exterior of CONCIERIA Minamiaoyama
Sale Property tag

JPY 65,800,000