Key Facts
• On July 1, Japan’s National Tax Agency announced 2025 land value data.
• Nationwide average change: +2.7% year-on-year, surpassing last year’s +2.3%.
• Largest increase since the 2009 financial crisis.
• Popular tourist areas and urban redevelopment drove the rise.
• Nagano Prefecture’s Hakuba Village recorded the highest increase at +32.4%.
• Noto Peninsula earthquake impact reflected for the first time.
• Wajima City, Ishikawa Prefecture, saw the largest drop at -16.7%.
• Tokyo led prefectures with an 8.1% increase, followed by Okinawa (+6.3%) and Fukuoka (+6.0%).
• 35 out of 47 prefectures showed positive growth, six more than last year.
• 12 prefectures, including Niigata and Kochi, experienced declines.
• Saitama City recorded the highest urban growth at +11.9%.
• Ginza Central Street in Tokyo remains the most expensive, at ¥4,808,000 per square meter.
• This marks a record high for Ginza, with a ¥384,000 increase from last year.
Summary
Japan’s 2025 land value data shows a 2.7% nationwide increase, the largest since 2009, driven by tourism, urban redevelopment, and rising demand for housing. Nagano’s Hakuba Village led with a 32.4% rise, while Ishikawa’s Wajima City saw a 16.7% drop due to the Noto Peninsula earthquake. Tokyo recorded the highest prefectural growth at 8.1%, with Ginza Central Street maintaining its position as the most expensive location at ¥4,808,000 per square meter. Overall, 35 prefectures experienced growth, reflecting a positive trend in Japan’s real estate market.
