High-end Realty Specialist

Japan’s land prices have risen for the fourth consecutive year, with momentum now spreading beyond major cities into regional areas. In Tokyo’s 23 wards, residential land increased by 7.9% and commercial land surged by 11.8%, hitting record highs. Redevelopment projects, sustained low interest rates, and ongoing infrastructure upgrades continue to drive growth in the real estate market.

Meanwhile, regional core cities like Sapporo, Sendai, and Fukuoka are also showing solid growth, with residential land prices rising by 4.9% and commercial land by 7.4%. In resort destinations like Hakuba, Kinosaki Onsen, and Chitose in Hokkaido, foreign investors are driving up land prices through purchases of vacation homes and hotels.

Now, the recovery of inbound tourism is drawing global attention. Eased visa requirements and expanded LCC routes have increased visitor numbers, leading to the rapid development of tourism infrastructure. Real estate investment is expanding beyond residential properties into hospitality and commercial assets. Keywords such as REITs, ESG investments, and crowdfunding are shaping the next phase of the market.

The officially announced land price is not only a benchmark for transactions and public projects—it also serves as a mirror of Japan’s economic future. What we see in this year’s data is more than numbers—it’s a signal of what’s to come.

This spring, where is Japan’s land market heading? A must-read report that decodes the forces behind this shift begins now.

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