The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced on March 18th that the average land price for all uses nationwide as of January 1, 2025, has increased for the fourth consecutive year.
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The post-pandemic economic recovery and growing inbound tourism have fueled gains, particularly in urban and redeveloping areas.
Note that the following price trends in no way offer any type of price guarantee. Real estate is a hyper-local venture so always consult a licensed realtor for your property specific needs.
Tokyo Area
Commercial Land: Up 8.2% overall. Nakano Ward saw the highest increase (16.3%), followed by Suginami (15.1%) and Taito (14.8%). Areas near stations and redevelopment zones saw strong demand.
Residential Land: Up 4.2%. Chuo Ward (13.9%), Minato (12.7%), and Meguro (12.5%) had the highest increases.
Taito’s Asakusa saw rising prices due to increased tourism. Shibuya Station’s redevelopment also contributed to price hikes. In Tama, land rose 5.3%, while Yokohama (+7.2%), Chiba (+8.4%), and Saitama (+4.8%) also saw growth.
Osaka Area
Commercial Land: Up 6.7%, marking three years of expansion. Dotonbori (+22.6%) and south of Kyoto Station (+21.9%) led increases. Osaka City averaged +11.6%, Kyoto +10.2%, and Kobe +5.5%.
Residential Land: Up 2.1%, with Osaka City rising 5.8%. Growth was notable in northern Osaka, Kyoto (+3.2%), and Kobe (+2.7%).
The highest commercial land price was at Grand Front Osaka, reaching 24.3 million yen/m², driven by the Grand Green Osaka project.
Nagoya Area
Commercial Land: Up 3.8%, led by Chikusa Ward (+14.2%). The pace of growth slowed due to weaker inbound tourism compared to Tokyo and Osaka.
Residential Land: Up 2.3%, with Atsuta Ward seeing the highest rise (+8.4%).
Regional Areas
Commercial Land: Up 1.6%, with Fukuoka City leading (+11.3%) due to high hotel occupancy and strong retail sales.
Residential Land: Up 1%, with Furano, Hokkaido, seeing the highest nationwide increase (+31.3%). Resort areas like Hakuba and Nozawa Onsen saw growing demand.
Tokyo’s Akasaka Remains Japan’s Most Expensive Residential Land
Akasaka in Minato Ward retained the top spot for the eighth year, reaching 5.9 million yen/m² (+10.3%). The highest rate of increase among the top 10 locations was also in Minato Ward (+10.4%).
Across major sub-cities, average residential land prices were highest in Chiyoda Ward (Tokyo, 3.28 million yen/m²), Nishi Ward (Osaka, 865,000 yen/m²), and Naka Ward (Nagoya, 1.2 million yen/m²).
Source:
MLIT Reiwa 7 (2025) Land Price Publication (Japanese only)
