Key Facts
• Nagano Prefecture’s standard land prices rose for the first time in decades.
• Residential land prices increased by 0.2%, the first rise in 29 years.
• Commercial land prices rose by 0.4%, marking a 33-year high.
• Data was collected from 401 locations as of July 1, 2025.
• Karuizawa’s Old Karuizawa villa area recorded the highest residential price at ¥183,000/m².
• Nagano Station area had the highest commercial price at ¥378,000/m².
• Hakuba Village saw a 22.0% rise in commercial land and 14.7% in residential land.
• Nozawa Onsen Village experienced a 24.2% increase in commercial land and 17.8% in residential land.
• Growth attributed to inbound tourism, including demand for hotels and luxury villas.
Summary
Nagano Prefecture’s standard land prices have risen for the first time in decades, with residential land increasing by 0.2% and commercial land by 0.4%. This marks the first rise in 29 years for residential areas and 33 years for commercial areas. The data, collected from 401 locations as of July 1, 2025, highlights Karuizawa’s Old Karuizawa villa area as the most expensive residential land at ¥183,000/m², while Nagano Station area leads commercial land at ¥378,000/m². Significant growth was observed in Hakuba Village and Nozawa Onsen Village, driven by inbound tourism and demand for high-end accommodations. These trends reflect a revitalized real estate market in the region.
