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.


Exterior of Park Court Azabu Toriizaka
Sale Property tag

A stately looking low-rise apartment built on the hill top location along Toriizaka slope. It stands in a quiet residential area with lush greenery having a historic high class atmosphere as a place of Daimyo’s residences back in the Edo period. There are various foreign embassies, well-known private junior and senior high schools, and luxury residences for expats in the neighborhood. Redevelopment works in western Roppongi 5-chome and Azabudai District are currently in progress in the neighboring areas attracting more and more public attention as an international commercial district. Convenient for everyday life within approx. 6 min walk to Azabujuban Shopping Street and 11 min walk to Roppongi Hills.

JPY 99,800,000

Exterior of Park Court Nogizaka The Tower
Sale Property tag

A luxury tower apartment built on the hill-top location, in a quiet high class residential area away from busy Roppongi streets, within 5 min walk to Tokyo Midtown, and just behind The National Art Center, Tokyo. It is one of the Park Court branded luxury condominium apartments sold by Mitsui Fudosan Residential Co.,Ltd. Arrangement of lush greenery in the grounds, graceful and luxury looking design of building appearance and shared spaces. Unit room design to give an open feeling and expansive city views.

JPY 119,800,000 - 120,000,000

Sale Property tag

Built in the hill top location close to Tokyo Midtown, away from the hustle and bustle of Roppongi, blessed with lush greenery of neighboring Hinokicho Park. Symbolic looking building appearance created by fusing advanced and traditional design. Coming with 24 hours concierge service, various shared facilities with artistic atmosphere, well-considered unit room design and arrangement having functional beauty and practicality.

JPY 338,000,000

Sale Property tag

Hiroo, Aoyama, and Roppongi are within the living area. A luxury condominium apartment built on the hilltop in 4-chome, Nishi-azabu, along a tree-lined street. Sold by MORIMOTO Co.,Ltd. The building and unit rooms made of quality materials offer a full line of good designs. Room equipment is arranged for functionality and comfort.

JPY 350,000,000

Exterior of Domus Minamiaoyama
Sale Property tag

JPY 198,000,000