On the 10th of January, Nomura Real Estate Solutions announced the results of its "Residential Land Price Index" survey for the Greater Tokyo Area (GTA) as of January 1, 2025.
Conducted quarterly, the survey monitors land prices at 169 fixed locations.
Tokyo skyline photo by George Kedenburg III on Unsplash
The index, which uses January 2000 as the base value of 100, reached 114.3 in January 2025, reflecting a 1.0% increase from the previous survey in October 2024.
This marks the 18th consecutive quarter of growth since Q4 2020.
Regional Performance Highlights
Tokyo’s 23 Wards: Index reached 154.6 (+1.9%), maintaining an 18-quarter streak of increases.
Kanagawa Prefecture: Recorded 100.5 (+0.3%), growing for four consecutive quarters.
Tokyo non-23 Wards: Reached 109.0 (+1.1%), continuing two quarters of positive growth.
Chiba Prefecture: Climbed to 95.6 (+2.1%), reversing its previous flat performance.
Saitama Prefecture: Declined to 118.6 (-0.5%), marking a downturn after sustained growth.
Central Tokyo Drives Price Increases
The price growth in Tokyo’s 23 wards accelerated, led by the central five wards (Chiyoda, Chuo, Minato, Shibuya, and Shinjuku).
Price increases were also observed across all surveyed locations in Bunkyo, Taito, and Koto wards, while most areas in Setagaya Ward continued to see rising prices.
Further Reading:
Nomura Real Estate Solutions Residential Land Price Index Jan. 1, 2025 (Japanese only; covers Greater Osaka as well).
Source:
R.E. Port News (Japanese only)
