Overview
- Government data show the national average land price rose 2.8% as of Jan. 1, 2026, the fifth straight annual increase and the strongest since the early 1990s.
- Commercial land climbed 4.3% nationwide and 7.8% in Tokyo, Osaka and Nagoya, while residential land rose 2.1% nationwide and 3.5% in the three metros and four major regional cities.
- A ministry official cited stronger overseas visitor traffic driving demand for shops and hotels, as some buyers and developers delayed projects in certain cities due to high construction costs.
- Commercial values increased in 38 of 47 prefectures and residential values rose in 31, with Tokyo leading residential gains for the first time in 18 years on brisk central-city condo demand.
- Local swings were pronounced: Hakuba posted a 33.0% jump in residential land, Chitose recorded a 44.1% surge in commercial land near JR Chitose Station, and quake-hit Wajima saw a 6.3% drop in commercial prices as declines across Ishikawa moderated with publicly funded cleanup.