Tourist hotspots fuel Japan's land price gains for fifth year

Japan's land ministry announced on September 15 the 2026 standard land price survey. Nationwide average prices as of July 1 rose 1.5 percent for a fifth consecutive year. Residential land increased 1.0 percent and commercial land increased 2.9 percent. The Meidi-Ya Ginza Building remained the country's most expensive site for the 21st straight year at 52.5 million yen per square meter after an 11.9 percent rise. Average prices rose 5.4 percent in the Tokyo metropolitan area and 3.6 percent in the Osaka metropolitan area. Growth slowed to 1.9 percent in Nagoya and to 4.1 percent across Sapporo, Sendai, Hiroshima and Fukuoka. Tokyo residential land rose 5.8 percent, the highest among prefectures for the first time in 12 years. Tourist spots led the largest jumps: Furano residential land rose 32.0 percent, Hakuba commercial land rose 35.6 percent, and a site near Kaminarimon Gate at Sensoji in Asakusa rose 26.9 percent. The Deka Ebisubashi Building reclaimed the top commercial price in the Osaka metro area. Asahi Shimbun focused on the pace leveling off under construction costs and regional population decline, plus declines in 24 prefectures. Right-rated headlines cast tourist hotspots as fueling the gains and flagged Tokyo commercial prices at a 33-year high; related Nikkei accounts added the Canadian fund apartment purchase. No contested facts are found in the record.