JapanThe national average land price has increased for two consecutive years. The “Meijia Ginza Building” located in Ginza, Chuo-ku, Tokyo has been the “king of the land” for 18 consecutive years, with a price of 40.1 million yen (about US$270,000) per square meter.
Japan’s TBS TV station and Japan Broadcasting Corporation (NHK) reported that the Japanese government’s Ministry of Land, Infrastructure, Transport and Tourism today announced a national “benchmark land price” as a standard for land transactions.pandemicThe resumption of economic activities affected by the epidemic has led to the national average land price rising for two consecutive years.
Each prefectural government in Japan conducts a survey on land prices, called the “Prefectural Land Price Survey”, on July 1 every year. The value obtained from the survey is called “base land value”.
The Ministry of Land, Infrastructure, Transport and Tourism today announced summary results of more than 21,300 locations surveyed this year, including the national average land price for all uses of residential, commercial and industrial land, which is expected to rise by 2022. increased by 1% compared to; Of which, the residential land portion increased by 0.7%, and the commercial land portion increased by 0.7%, increasing by 1.5%.
As for the rise in land prices in some places, this was encouraged by the “semiconductor bubble”. In this survey, it can be seen that Hokkaido and Kumamoto Prefecture have the highest increase in residential land and commercial land, respectively. Land prices have increased significantly in areas where semiconductor factories are being built.
The largest increase in residential land prices in Japan occurred in Saake Town, Chitose City, Hokkaido. The main reason is that Japanese semiconductor company Rapidus, which aims to “localize” the next generation of semiconductors, will set up a factory here. It is expected that this will increase the residential population.
In addition, Taiwan semiconductor industryTSMCThe establishment of factories in Kumamoto Prefecture has led related companies to decide to develop there, causing commercial land prices in Otsu Town, Kikuchi County, Kumamoto Prefecture to be among the highest in Japan.
The largest increase in residential land was in 5 Sakae Town, Chitose City, Hokkaido, reaching 30.7%; The largest increase in commercial land was in Otsu Town, Kumamoto Prefecture, at 32.4%; The largest increase in industrial land was in Otsu Town, at 31.1%.
As for the “king of land” with the highest land price in Japan, it has been held by the “Meijiya Ginza Building” (commercial land) in Ginza, Chuo-ku, Tokyo for 18 consecutive years, with a price of 40.1 . Million yen per square meter.
In the residential land segment, Akasaka 1-chome, Minato-ku, Tokyo has won the championship for five consecutive years with an asking price of 5.24 million yen (about US$35,000) per square meter, an increase of 4% from 2022. As far as industrial land is concerned, the highest price of land is in Tokai 2-chome, Ota-ku, Tokyo, with an average price per square meter of 748,000 yen (about US$5,065).
As for the average land price of residential land, among the three major urban areas in Japan, the Tokyo area and Nagoya area have increased for three consecutive years, and the Osaka area has also increased for two consecutive years. It is worth noting that, excluding the three major metropolitan areas mentioned above, the average price of residential land also increased by 0.1%, increasing again after 31 years since 1992.