Key Facts
• On July 1, 2025, Japan’s National Tax Agency released land price data for 2024.
• Hokkaido’s average land price rose 2.4%, marking a 10th consecutive year of increase.
• Growth rate dropped 2.8 percentage points from the previous year, below the national average of 2.7%.
• Hokkaido’s highest land price: $5,400 per square meter near JR Sapporo Station, up 6.3%.
• 9 out of 30 tax offices in Hokkaido reported land price increases, up from 7 last year.
• Furano City saw the highest growth rate at 30.2%, driven by tourism and condominium projects.
• Rising construction costs and delayed Hokkaido Shinkansen opening are slowing growth.
• Land prices in 16 tax office areas remained flat, while 5 areas saw declines.
• JR Sapporo Station area has led Hokkaido in land prices for 20 consecutive years.
• Expert analysis predicts continued but slower growth due to economic factors.
Summary
Hokkaido’s land prices have risen for the 10th consecutive year, with a 2.4% average increase in 2024. However, the growth rate has slowed, falling below the national average of 2.7% for the first time since 2016. The highest land price in Hokkaido, near JR Sapporo Station, reached $5,400 per square meter, marking a 6.3% increase. Furano City recorded the highest growth rate at 30.2%, fueled by tourism and real estate developments. Despite these gains, rising construction costs and delays in the Hokkaido Shinkansen project are tempering growth. Experts anticipate this trend of slower growth to persist.
