Key facts
- Japan's average land price increased by 2.9% in 2026.
- This is the fifth consecutive year of rising land prices nationwide.
- Tokyo recorded the largest increase among prefectures at 9.4%.
- The village of Hakuba in Nagano prefecture saw the highest increase at 32.7%.
- Land in Tokyo's Ginza district was the most expensive at 53.36 million yen per square meter.
The average price of land across Japan rose by 2.9% in 2026, marking the fifth consecutive year of increases, according to data released by the National Tax Agency. This marks the fastest pace of growth since the calculation method was updated in 2010.
Urban redevelopment projects and a surge in tourism are credited with driving the price hikes. A total of 36 prefectures saw land prices climb, with Tokyo experiencing the most significant rise at 9.4%. Okinawa followed with a 6.6% increase, and Osaka saw a 5.1% rise.
Only eight of Japan's 47 prefectures recorded a decrease in land prices, with Wakayama seeing a 0.5% fall. Among prefectural capitals, Saga registered the sharpest increase at 17.0%, followed by Morioka (13.0%) and Nara (12.6%).
In specific tax office jurisdictions, the mountain village of Hakuba in Nagano prefecture recorded the highest increase at 32.7%, with Nozawa village also seeing a substantial rise of 31.3%. The city of Furano, near Hokkaido's ski resorts, increased by 28.0%.
Central Tokyo's popular tourist district of Asakusa saw a 27.5% jump in land prices. Meanwhile, a shopping street in Wajima, Ishikawa prefecture, which was impacted by a major earthquake on January 1, 2024, experienced the steepest decline, down 8.6%.
The most expensive land in the country remained in Tokyo's Ginza shopping district, in front of the Kyukyodo stationery store. Its price rose 11.0% to 53.36 million yen per square meter, marking the 41st consecutive year it has held the top spot. Land in "difficult-to-return" zones in Fukushima prefecture, affected by the 2011 nuclear disaster, was not priced, as in previous years.