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2017-11-17

Japan major cities land price

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Japan Major Cities Land Price

Land price is an interesting topic in real estate market. Land price is being used as the basis price on valuing the price of a property. Japan land prices may vary for each city from the total of 47 prefectures. Land price on Japan’s major cities can be more interesting to discuss. After the global crisis on 2009, which also affected worldwide property market, Japan has successfully managed to stabilize its market since 2010. These are the 10 highest land price by prefecture in Japan.

Top 10 Land Price Ranking by Prefecture

1

Tokyo

 943,247 

 / m²

2

Osaka

 267,304 

 / m²

3

Kanagawa

 244,256 

 / m²

4

Kyoto

 193,045 

 / m²

5

Aichi

 174,052 

 / m²

6

Saitama

 144,362 

 / m²

7

Hyogo

 142,672 

 / m²

8

Hiroshima

 113,274 

 / m²

9

Fukuoka

 112,818 

 / m²

10

Chiba

 108,187 

 / m²

source: https://tochidai.info/shutoken/ (2017)


 Japan Land Price by Region

This article will be focusing on two major regions in Japan, Greater Tokyo and Kansai Region. In total of 47 prefectures, Japan divided the area into regions that consist of some prefectures.

Greater Tokyo

Greater Tokyo includes Tokyo Prefecture, Kanagawa Prefecture, Saitama Prefecture, and Chiba Prefecture. Kanagawa Prefecture, Saitama Prefecture, and Chiba Prefecture are the closest neighboring prefecture to Tokyo. Located next to Tokyo makes these prefectures affected by the higher price of land in Tokyo. These are the average land price for Greater Tokyo region in 2017:


source: https://tochidai.info/shutoken/ (2017)

From the graph above we can see that Tokyo has significantly higher average land price rather than its surrounding. With Tokyo Prefecture average land price of JP¥943,246 /m2, Kanagawa Prefecture which right behind Tokyo has much lower average price as in JP¥244,256 /m2. Visually, Tokyo as the highest average land price in this region means it is a potential city to grow rapidly in the future.

Kansai (Kinki) Region

Kansai region includes Osaka Prefecture, Kyoto Prefecture and Hyogo Prefecture. These three prefectures are home for three metropolitan cities such as Osaka, Kyoto, and Kobe. These are the average land price 


source: https://tochidai.info/shutoken/ (2017)

Unlike Greater Tokyo, average land price in Kansai Region doesn’t have a big gap from one another. The highest average land price is Osaka Prefecture with JP¥267,304 /m2, followed by Kyoto Prefecture with JP¥193,045 /m2, and Hyogo Prefecture with JP¥142,672 /m2.


Tokyo Land Price

Tokyo as the capital city in Japan has the highest land price in the country. The price has fluctuated moves time over time.


source: The Land Institute of Japan

The data shows the average price history post global crisis era. The average land price in Tokyo has changed a lot during the year. The latest price shows significant increase on the price during 2017.

Top 10 Land Price Ranking in Tokyo

1

Chuo-ku

 6,648,195 

 / m²

2

Chiyoda-ku

 5,385,184 

 / m²

3

Minato-ku

 3,282,508 

 / m²

4

Shibuya-ku

 3,268,176 

 / m²

5

Shinjuku-ku

 2,928,338 

 / m²

6

Toshima-ku

 1,274,259 

 / m²

7

Taito-ku

 1,160,512 

 / m²

8

Meguro-ku

 1,073,348 

 / m²

9

Bunkyo-ku

 1,051,217 

 / m²

10

Shinagawa-ku

 976,060 

 / m²

source: https://tochidai.info/shutoken/ (2017)


Osaka Land Price

The second highest land price rank in Japan is Osaka Prefecture. Just like Tokyo, price in Osaka also has fluctuated moves time over time.


source: The Land Institute of Japan

The data shows the average price history post global crisis era. The average land price in Osaka shows more stable price during some period rather than price in Tokyo, which means the price growth is more predictable. The latest price shows fluctuated changes during 2017.

Top 10 Land Price Ranking in  Osaka City
1Chuo-ku2,232,612円 / m²
2Kita-ku2,095,240円 / m²
3Nishi-ku752,343円 / m²
4Abeno-ku610,650円 / m²
5Tennoji-ku570,250円 / m²
6Fukushima-ku478,409円 / m²
7Naniwa-ku434,450円 / m²
8Yodogawa-ku339,064円 / m²
9Miyakojima-ku327,000円 / m²
10Sumiyoshi-ku263,451円 / m²


source: https://tochidai.info/shutoken/ (2017)

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