In response to the results of the 2024 Prefectural Land Price Survey announced by the Ministry of Land, Infrastructure, Transport and Tourism on September 17th, the heads of various real estate associations and companies released the following comments which are summarized below in no particular order.
Junichi Yoshida, President of the Real Estate Association of Japan
Courtesy of Mitsubishi Estate, member of above association
Land prices have been increasing for three consecutive years.
Nationwide recovery in land prices see regional variations.
Economic recovery is reflected in rising land prices.
Future risks include overseas economic downturns and fluctuations in financial markets.
Japan must focus on wage increases, domestic investment, and overcoming deflation.
Key goals: accelerating digital transformation (DX) and green transformation (GX), improving international competitiveness, disaster prevention, and quality of life.
Yoichi Ota, President of the Real Estate Distribution Management Association
Courtesy of Tokyu Livable, member of said real estate association
Nationwide upward trend in land prices.
First rise in land prices in regional areas (outside major cities) in 32 years.
Decline in condominium contracts and prices in the Greater Tokyo Area.
Monitoring the impact of inflation and financial market fluctuations on residential demand.
Importance of stable land prices for economic growth.
The association aims to revitalize safe, secure real estate transactions.
Hisashi Sakamoto, Chairman of the National Federation of Real Estate Brokers Associations
No Photo Available
Land prices have risen for three consecutive years.
Strong housing demand in metropolitan areas due to low-interest rates.
Commercial land demand for retail and hotels remains high.
Desire to break away from deflation and maintain rising land prices.
Promoting initiatives to combat Akiya and revitalizing local communities.
Aims to expand tax reductions for child-rearing households.
Hiromasa Nakamura, Chairman of the All-Japan Real Estate Association
Courtesy of above association
Land prices in major and regional cities are increasing.
High growth rates in Okinawa and Kumamoto are due to commercial development.
V-shaped recovery in inbound demand boosting land prices in areas like Hakuba and Kyoto.
Urban redevelopment and tourism have a direct impact on land values.
Shun Ueda, President and CEO of Mitsui Fudosan
Courtesy of Mitsui Fudosan
Nationwide rise in land prices driven by economic recovery.
Strong housing demand in city centers and increased redevelopment projects.
Industrial competitiveness boosted by logistics and semiconductor expansion.
Accelerating DX and artificial intelligence (AI) are expected to reshape the real estate industry.
Focus on creating new social and economic values through industrial development.
Atsushi Nakajima, President and CEO of Mitsubishi Estate
Courtesy of Mitsubishi Estate
Office vacancy rates are declining and rents rising in major cities.
Demand for offices linked to securing and managing talent.
Successful large-scale projects like Grand Green Osaka demonstrate the importance of sustainable office environments.
Growing demand for logistics facilities due to e-commerce expansion.
Residential demand remains strong despite rising interest rates.
Kojun Nishima, President and CEO of Sumitomo Real Estate Development
Courtesy of Sumitomo Real Estate Development
Recovery in the domestic economy with rising demand for hotels, offices, and stores.
Strong condominium demand despite rising construction costs.
Sustained interest in residential areas with high convenience.
Focus on capturing demand for villas and condominiums in resort areas.
Hiroaki Hoshino, President of Tokyu Land Corporation
Courtesy of Tokyu Land Corporation
Land prices continue to rise nationwide, supported by strong demand for offices and stores.
Redevelopment projects in Shibuya and Sapporo drive up land values.
Rising office rent levels, especially in tech and content industries.
Strong hotel occupancy driven by inbound tourism.
Continued expansion of renewable energy and environmentally friendly real estate.
Hitoshi Nomura, President and CEO of Tokyo Tatemono
Courtesy of Tokyu Tatemono
Land prices rising due to resilient demand for condominiums, hotels, and offices.
Recovery in inbound tourism contributes to commercial land price increases.
Strong demand for environmentally friendly condominiums.
Active development of logistics facilities linked to semiconductor industry expansion.
Daisaku Matsuo, President and CEO of Nomura Real Estate Development
Courtesy of Nomura Real Estate Develpoment
Strong demand for housing with a stable balance between supply and demand.
Office market facing challenges from new supply in 2025, but demand for real communication increasing.
High hotel occupancy rates driven by inbound demand.
Logistics market adapting to labor shortages and e-commerce growth.
Concerns over rising construction costs and their impact on the market.
Miwako Date, President and CEO of Mori Trust
Courtesy of Mori Trust
Land prices are rising in major cities and tourism areas due to strong inbound demand.
Continued demand for office space in central Tokyo.
High tourism demand in areas like Kyoto, Hakuba, and Takayama is boosting real estate.
Long-term focus on addressing labor shortages and improving productivity using digital technology.
Source:
R.E. Port News (Japanese only)
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