Chapter 5 Trends in Land Prices (Data)
   
Note:
In Japan, land is regarded as a separate asset from buildings. Therefore, the term "Land Price" is normally used instead of "Property Price", not only for an agricultural land but also for developed lands.
Land prices are normally determined by market comparisons utilizing land price indices prepared by the Government; such as those within the "Land Price Publication" by Ministry of Land, Infrastructure and Transport.
   
Section 1 Land-price Trends in 2004 - based on 2005's Published Land Prices

 

Based on land-prices published in 2005, overall land-price trends in 2004 were as follows:
1) Average year-on-year land-prices across Japan continued to decline beyond January 2004, but in relation to land for residential and commercial uses, the extent of the decline has actually diminished for two consecutive years and three consecutive years respectively. In the three metropolitan areas, in relation to land for residential and commercial uses, the extent of the decline has diminished for two consecutive years and three consecutive years respectively. It is not only in the three metropolitan areas, but also in local areas that the extent of land-price decline has diminished. In relation to land for residential use and land for commercial use, it was the first time in 8 years and 7 years respectively that land-price declines had eased-back.
2)  In relation to the Tokyo area, the majority of sites (i.e. standard sites designated for assessment as "published land-prices") show that land-prices in the "Tokyo Wards Area" either increased or leveled-off. In wider areas, such as parts of the "Tama Area", Saitama Prefecture, Chiba Prefecture, Kawasaki City and Yokohama City, there were a number of sites where land-prices had either increased of leveled-off. It is of particular note that average land-prices increased in some areas, including the "Central Five Wards Area" of Tokyo, Urayasu City and Musashino City.
3)  In the Osaka Area, mainly in the centers of Osaka City and Kyoto City, and in the "Hanshin Area", there were an increasing number of sites where land-prices had leveled-off; and also where land-prices had actually increased. Also in Nagoya City and the "Nishi Mikawa Area" near Nagoya in the Nagoya Area, and in the center of both Sapporo City and Fukuoka City, there were increases in the number of sites where land-prices had either leveled-off or risen ; and
4)  In the "Tokyo Wards Area", and in the center of both Osaka City and Nagoya City, there were some sites where relatively high increases in land-price were achieved, reflecting the high profitability and convenience of these locations.
In outline, the key-results of the Published Land Prices in 2005 were as follows (based on the above features):
- Average land-prices across Japan continued to decline, but the extent of this decline diminished in the three metropolitan areas, and in local areas as well;
- Reflecting the continued steady economic recovery and the broad expansion of property investments activity, the bottoming-out trend strengthened further and became more widespread in and around the Tokyo area, mainly in the "Tokyo Wards Area". In the Osaka Area, Nagoya Area, Sapporo City and Fukuoka City as well, the bottoming-out trend started to become more widespread; and
-  Looking at the results in the three metropolitan areas, these changes in land-price movements became quite clear in the city centers and at certain locations within other areas. This is largely because there were cities and wards where average land-prices had not only increased, but there were also sites where these price increases were relatively high.
 
Land-price trends in the various regions were as follows:
　 

Chart 5-1-1 2003 Year-on-year Rates of Change in Published Land Prices

　

(%)
 

Lands for Residential Use

 Lands for Commercial Use
2003 2004 2005 2003 2004 2005
Japan △5.8 △5.7 △4.6 △8.0 △7.4 △5.6
Three Metropolitan Areas △6.5 △5.7 △3.7 △7.1 △5.8 △3.2
　 Tokyo Area △5.6 △4.7 △3.2 △5.8 △4.5 △2.5
　 Central Five Wards Area △0.6 0.0 1.4 △2.8 △1.5 0.5
Osaka Area △8.8 △8.0 △5.2 △10.2 △8.8 △5.0
Nagoya Area △5.6 △4.9 △3.3 △8.0 △6.0 △3.3
Local Areas △5.1 △5.7 △5.4 △8.7 △8.7 △7.5

 

Note: The three metropolitan areas include the Tokyo area, Osaka area and Nagoya area
Local areas: Areas other than the above
Tokyo Area: Cities, wards, towns and villages area including existing Built-up Area and Suburban Development and Redevelopment Area based on the "National Capital Region Development Act"
Central Five Wards Area: Chiyoda, Chuo, Minato, Shinjuku and Shibuya Wards
Osaka Area: Cities, towns and villages area including existing Built-up Areas and Suburban Development and Redevelopment Areas based on the "Kinki Region Development Act"
Nagoya Area: Cities, towns and villages area including existing Urban Improvement Area based on the "Chubu Region Development Act"

 

Chart 5-1-2 Trends of Locations where land prices increased, leveled off
or almost leveled off

(points of land)
 

increased
(0%<price. change ratio)

 leveled off
(price. change ratio=0%)		 almost leveled off
(△1.0%<price.change ratio<0%)
2003 2004 2005 2003 2004 2005 2003 2004 2005
Tokyo Wards Area residential 10 21 121 98 120 254 118 260 388
commercial 39 50 136 49 65 180 23 96 164
　 Central Wards Area residential 4 17 83 79 86 47 26 38 32
commercial 38 48 122 41 44 81 15 28 42
South West Wards Area residential 6 4 31 18 31 192 84 208 240
commercial 1 2 12 8 18 86 7 47 72
North East Wards Area residential 0 0 7 1 3 15 8 14 116
commercial 0 0 2 0 3 13 1 21 50
Tama Area residential 0 0 12 1 6 19 8 18 114
commercial 0 0 5 3 4 11 4 2 13
Yokohama City, 
Kawasaki City		 residential 0 0 9 0 0 22 0 1 28
commercial 0 0 4 0 0 1 0 0 1
Saitama Prefecture residential 0 0 2 6 7 42 14 12 63
commercial 0 0 0 1 0 6 1 6 23
　 Saitama City residential 0 0 0 1 0 17 12 0 23
commercial 0 0 0 0 0 0 1 1 1
Chiba Prefecture residential 0 10 54 8 2 78 2 2 29
commercial 0 2 3 0 0 3 0 0 6
　 Chiba City residential 0 0 6 0 0 16 0 2 6
commercial 0 0 0 0 0 1 0 0 3
Osaka Prefecture residential 0 0 3 1 1 12 0 0 13
commercial 0 0 12 1 5 7 0 0 7
　 Osaka City residential 0 0 2 1 1 6 0 0 8
commercial 0 0 12 1 5 6 0 0 6
Kobe City residential 0 0 14 0 0 3 0 1 5
commercial 0 0 0 0 0 0 0 0 1
Hanshin Area residential 0 0 4 0 0 48 0 0 54
commercial 0 0 0 0 0 1 0 0 0
Kyoto City residential 0 0 0 0 0 18 0 0 5
commercial 0 0 10 0 3 16 0 0 3
Aichi Prefecture residential 0 0 38 13 13 81 54 45 113
commercial 1 11 36 1 5 39 2 9 38
　 Nagoya City residential 0 0 24 0 2 28 2 2 38
commercial 1 11 35 1 4 27 0 3 20
Nishi Mikawa Area residential 0 0 13 13 6 40 49 40 60
commercial 0 0 1 0 1 12 2 6 18
Sapporo City residential 0 1 29 1 11 63 2 5 8
commercial 0 0 9 1 5 33 0 4 9
Fukuoka City residential 1 1 6 3 6 9 4 4 3
commercial 0 1 3 1 3 4 1 0 2

　

 

1. General Conditions in the Tokyo Area
 
(1) Lands for Residential Use

The extent of land-price decline has diminished for three consecutive years.

In Minato and Shibuya Wards, and at all sites designated for published land-pricing in Chiyoda, Chuo, Bunkyo and Taito Wards as well, land-prices have either increased or leveled-off. In Meguro, Ota and Suginami Wards, average land-prices have already leveled-off. In most of other wards, the average price had almost leveled-off. So, the average price for the "Tokyo Wards Area" has already come to the point of almost leveling-off.

Average published land-prices in Musashino City, Urayasu City and Mihama Ward in Chiba City increased; and in Ichikawa City the majority of sites designated for published land-prices have either increased or leveled-off.

In other cities, including Kawasaki, Yokohama, Mitaka, Kunitachi, Asaka, Saitama, Matsudo and Funabashi City, there was also an increase in the number of sites where land-prices were leveling-off, and at some sites land-prices had actually increased, mainly in areas that offer conveniences associated with proximity to railway lines and/or where the residential environment is excellent.

Based on expectations of increased convenience brought about by the development of new railway lines, we note the emergence of a number of sites where land-prices either increased or leveled-off, mainly in the surrounding areas where new stations are to be built (e.g. Adachi Ward in Tokyo, Yashio City, Misato City, Nagareyama City, Kasiwa City and Moriya City).

　

2) Lands for Commercial Use

The extent of land-price decline has diminished for six consecutive years.

At all sites designated for published land-pricing in Minato and Shibuya Wards, land-prices have either increased or leveled-off. Average land-prices increased in Chiyoda, Chuo, Minato, Shibuya and Setagaya Wards, and leveled-off in Suginami Ward. In other wards, the average price has almost leveled-off or decreased slightly. Across the "Tokyo Wards Area", average land-prices have almost leveled-off; and in the "Central Five Wards Area" of Tokyo have started to increase for the first time in 14 years.

In Marunouchi (where urban renaissance measures have been promoted), Ginza and Omotesando (where the concentration of commercial facilities has progressed through the establishment of international brand-name shops) we have observed a number of sites achieving relatively high rates of increase in land-price, reflecting expectations of high profitability in these areas.

In other wards as well, we see the emergence of sites along railway lines where land-prices have either leveled-off or almost leveled-off; and sites around stations (where retail customer through-put is high) achieving increased land-prices .

In Musashino and Tachikawa Cities we see the emergence of sites where land-prices have increased, and in other cities (including Mitaka, Ichikawa and Kawaguchi Cities) the emergence of sites where land-prices have leveled-off. In Musashino City in particular average land-prices had shown an increase.

In Yokohama City, we see the emergence of sites where land-prices have either risen or leveled-off as a result of increases in customer throughput at retail establishments located close to areas where transport-infrastructure development projects have been promoted.

Kashiwa City is another area where large-scale commercial facilities with high customer throughput have continued to concentrate; and here again we observe an increase in the number of sites where land-prices have risen or leveled-off.

　

Chart 5-1-3 Rates of Change in the Tokyo Area

　

(%)
 

Lands for Residential Use

Lands for Commercial Use
2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005		 2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005
Tokyo prefecture △3.1 △1.7 △2.7 △0.9
　 Tokyo Wards Area △1.3 △0.3 △2.2 △0.5
　 Central Wards Area △0.4 0.9 △2.3 △0.3
South West Wards Area △1.0 △0.2 △1.3 △0.3
North East Wards Area △2.3 △0.9 △2.9 △1.3
Tama Area △5.1 △3.1 △5.1 △2.7
Kanagawa Prefecture △5.0 △3.7 △6.6 △4.4
　 Yokohama City △4.6 △3.2 △6.7 △4.1
Kawasaki City △4.7 △2.8 △6.2 △3.7
Other Areas △5.4 △4.3 △6.7 △5.0
Saitama Prefecture △4.9 △3.4 △5.6 △3.8
　 Near Tokyo Area △3.3 △2.0 △4.2 △2.5
　 Saitama City △3.4 △1.8 △5.8 △3.4
　 Other Areas △6.6 △4.9 △8.0 △6.0
Chiba Prefecture △6.6 △4.2 △8.0 △4.8
　 Near Tokyo Area △5.2 △3.1 △6.7 △3.4
　 Chiba City △6.7 △4.2 △7.9 △4.4
Other Areas △9.0 △6.1 △11.5 △8.1
Ibaraki Prefecture △8.5 △7.8 △9.4 △8.9
Tokyo Area △4.7 △3.2 △4.5 △2.5
Source:  "Published Land Prices" by Ministry of Land, Infrastructure and Transport
Note1: "Central Wards Area" includes Chiyoda Ward, Chuo Ward, Minato Ward, Shinjuku Ward, Bunkyo Ward, Taito Ward, Shibuya Ward and Toshima Ward. 
"South West Wards Area" includes Shinagawa Ward, Meguro Ward, Ota Ward, Setagaya Ward, Nakano Ward, Suginami Ward and Nerima Ward. "North East Wards Area" includes Sumida Ward, Koto Ward, Kita Ward, Arakawa Ward, Itabashi Ward, Adachi Ward, Katsushika Ward and Edogawa Ward.
Note2:  "Near Tokyo Area in Saitama Prefecture" includes Saitama City, Tokorozawa City, Sayama City, Warabi City, Toda City, Kawagoe City, Kawaguchi City, Hatogaya City, Asaka City, Shiki City, Wako City, Niiza City, Fujimi City, Kamifukuoka City, Oi Town and Miyoshi Town.
Noet3: "Near Tokyo Area in Chiba Prefecture" includes Ichikawa City, Urayasu City, Chiba City, Funabashi City, Matsudo City, Narashino City, Kashiwa City, Nagareyama City and Yachiyo City.

 

2. General Conditions in the Osaka Area
 
(1) Lands for Residential Use

The extent of land-price decline has diminished for two consecutive years.

Within Osaka City, in Tennoji and Chuo Wards, we note the emergence of sites where land-prices had increased, and also an increase in the number of sites where land-prices have leveled-off. Average land-prices in Tennoji Ward have also leveled-off.

In Abeno Ward, Sakai City, Matsubara City and Fujiidera City, where transportation convenience to central Osaka is high and the residential environment is excellent, sites have emerged where land-prices have either increased or leveled-off.

Within the "Hanshin Area", in Nada Ward and Higashi-Nada Ward (Kobe City) and in Ashiya City, Nishinomiya City and Amagasaki City, the sites where land-prices had either increased or leveled-off were widespread, especially in areas located along railway lines where transportation convenience to the center of Osaka and Kobe is high, and the residential environment is excellent.

Also in Kyoto City, the sites where land-prices had either increased or leveled-off were widespread in areas of convenience and residential excellence. In Nagaokakyo City sites have emerged where land-prices have leveled-off.

In Nara Prefecture as well, especially in Ikoma City and other areas where the development of new rail links has been promoted (where convenience factors exist and the residential environment is also excellent) we observe the emergence of a number of sites where land-prices had leveled-off.

(2) Lands for Commercial Use

The extent of land-price decline has diminished for three consecutive years.

Osaka City saw the emergence of sites where land-prices had either increased and leveled-off, especially around Osaka Station where the concentration of commercial and business facilities has been supported mainly by redevelopment; and also in Shinsaibashi (as a core area) and Midosuji (Midosuji Avenue) where the location of new overseas brand-name shops, etc has been promoted. The relatively high increases in land-prices that were observed around Osaka Station reflect high expectations of profitability in that area.

In Kyoto City, particularly in Nakagyo and Shimogyo Wards, where the clustering of commercial establishments, including retail fashion precincts, has been promoted, we also observe the emergence of sites where land-prices have increased, and a spread of sites where prices had leveled off.

 

Chart 5-1-4 Rates of Change in the Osaka Area

 

(%)
 

Lands for Residential Use

Lands for Commercial Use
2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005		 2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005
Osaka prefecture △7.7 △5.3 △9.0 △5.2
  Osaka City △5.6 △3.6 △7.8 △4.2
  Central Six Wards △3.9 △1.3 △6.9 △3.3
North Osaka △6.8 △5.1 △9.5 △6.7
East Osaka △7.9 △5.2 △10.5 △5.9
South Osaka △9.0 △6.4 △11.3 △6.6
Hyogo Prefectures △7.8 △4.2 △8.9 △4.6
  Kobe City △7.9 △5.8 △7.8 △4.7
  East Four Wards △4.5 △2.1 △7.6 △4.1
Hanshin Area △7.8 △2.7 △9.9 △4.5
Kyoto Prefecture △8.4 △5.7 △7.0 △3.8
  Kyoto City △7.3 △4.6 △6.7 △3.3
  Central Five Wards △5.7 △2.4 △4.9 △1.1
  Other Areas △10.0 △7.2 △8.5 △6.4
Nara Prefecture △8.8 △5.9 △10.2 △7.0
  Nara City △8.5 △5.7 △9.6 △5.9
Osaka Area △8.0 △5.2 △8.8 △5.0

 

Source:  "Published Land Prices" by Ministry of Land, Infrastructure and Transport
Note1: "Central Six Wards in Osaka City" include Kita Ward, Fukushima Ward, Chuo Ward, Nishi ward, Tennoji Ward, and Naniwa Ward.
Note2:  "North Osaka" includes Toyonaka City, Suita City, Settsu City, Ikeda City, Mino-o City, Ibaraki City, Takatsuki City, Shimamoto Town, Toyono Town, Nose Town. "East Osaka" includes Hirakata City, Neyagawa City, Katano City, Moriguchi City, Kadoma City, Shijonawate City, Daito City, Higashiosaka City, Yao City, Kashiwara City. "South Osaka" includes areas in Osaka Prefecture other than Osaka City, "North Osaka" and "East Osaka".
Noet3: "East Four Wards in Kobe City" include Higashinada Ward, Nada Ward, Hyogo Ward and Chuo Ward.
Note4:  "Hanshin Area" includes Amagasaki City, Nishinomiya City, Ashiya City, Itami City, Takarazuka City, Kawanishi City, Sanda City and Inagawa Town.
Note5:  "Central Five Wards in Kyoto City" include Kita Ward, Kamigyo Ward, Sakyo Ward, Nakagyo Ward and Shimogyo Ward.

 

3 . General Conditions in the Nagoya Area
 
(1) Lands for Residential Use

The extent of land-price decline has diminished for two consecutive years.

With regard to Nagoya City, in areas with excellent residential environments and enhanced convenience through the development of railway infrastructure, we observed an emergence, and widespread distribution of, sites where land-prices had either increased or leveled-off.
In some areas adjacent to Nagoya City, particularly those areas designated for new railway stations as part of planned railway infrastructure development, we observed an increase of the number of sites where land-prices had leveled-off.
In the "Nishi Mikawa Area", where the regional economy is strong, the distribution of sites where land-prices have already leveled-off has also become more widespread, and we even see the emergence of some sites where land-prices have actually increased.

(2) Lands for Commercial Use

The extent of land-price decline has diminished for three consecutive years.

In Nagoya City urban-renaissance measures have been progressing around the Nagoya Station area. In the Sakae area the amount of floor-space associated with large-scale commercial development has increased along with the promotion of new overseas brand-name shops. Accordingly, we have observed an increase in the number of sites within these areas where land-prices have increased or leveled-off. This reflects an expectation of high profitability, and in these areas there are some sites where land-prices have in fact increased more than 10%. In other areas, such as Fushimi and Marunouchi, we also see the emergence of sites where land-prices have either increased or leveled-off.

In Nishi-Mikawa area, we observe an increase in the number of sites where land-prices have leveled-off, and also the emergence of some sites where land-prices have increased. This was under conditions where residential land-prices in the areas, surrounding the subject land had already stabilized.

 

 

Chart 5-1-5 Rates of Change in the Nagoya Area

 

( %)
 

Lands for Residential Use

Lands for Commercial Use
2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005		 2004
1st January 2003
～
1st January 2004		 2005
1st January 2004
～
1st January 2005
Aichi Prefecture △4.8 △2.9 △5.9 △3.0
  Nagoya City △5.5 △2.1 △5.7 △1.9
Areas Near Nagoya △5.5 △3.7 △7.5 △5.1
Owari Area △4.4 △4.0 △6.3 △5.6
Nishi Mikawa Area △2.9 △1.7 △4.9 △2.2
Chita Area △6.0 △4.6 △8.1 △6.8
Mie Prefecture △5.3 △6.8 △7.3 △7.8
  Yokkaichi City △5.5 △7.5 △7.9 △8.6
Nagoya Area △4.9 △3.3 △6.0 △3.3

 

Source:  "Published Land Prices" by Ministry of Land, Infrastructure and Transport
Note: The areas in Aichi are as follows:
"Near Nagoya Area" includes Nagakute Town, Owariasahi City, Toyoake City, Togo Town, Nisshin City, Seto City, Kasugai City, Nishibiwajima Town, Toyoyama Town, Shikatsu Town, Nishiharu Town, Haruhi Town, Kiyosu Town, Shinkawa Town, Shippo Town, Jimokuji Town, Oharu Town and Kanie Town.
"Owari Area" includes Inuyama City, Komaki City, Fuso Town, Oguchi Town, Ichinomiya City, Konan City, Iwakura City, Kisogawa Town, Bisai City, Inazawa City, Sobue Town, Heiwa Town, Miwa Town, Saori Town, Hachikai Village, Tatsuta Village, Tushima City, Saya Town, Yatomi Town, Jushiyama Village and Tobishima Village.
"Nishi Mikawa Area" includes Okazaki City, Hekinan City, Kariya City, Toyota City, Anjo City, Nishio City, Chiryu City, Takahama City, Isshiki Town, Kira Town, Hazu Town, Kota Town and Miyoshi Town.
"Chita Area" includes Tokai City, Obu City, Chita City, Higashiura Town, Agui Town, Tokoname City, Handa City, Taketoyo Town, Mihama Town and Minamichita Town.

 

 

4. General Conditions in Regional Areas
 
(l) Lands for Residential Use

The extent of land-price decline diminished for the first time in 8 years.

In Sapporo City and Fukuoka City there were increases in the number of sites where land-prices had either risen or leveled-off. This was mainly in areas exhibiting a good range of urban conveniences with easy rail access to the city center, and where the residential environment is excellent.

In many local cities, however, the land-price decline continued against a background of imbalance between demand and supply (made worse by an over-supply of condominium apartments and "developed land" in the suburbs). On the other hand, there were certain locations in some of the areas we observed where the extent of land-price decline had diminished because the prices for those locations were felt to be moderate.

(2) Lands for Commercial Use

The extent of land-price decline diminished for the first time in 7 years.

In Sapporo City, there was an increase in the number of sites where land-prices had leveled-off. This was largely in the city center where progress had been made with the concentration of commercial facilities. Also, in areas where increased demand for land had been anticipated, and where the price of land for residential use (in those areas that surround land for commercial use) had stabilized, we also observed an increase in the number of sites where land-prices had leveled-off, and the emergence of some sites where land-prices had risen.

In Fukuoka City, particularly in the city center where clusters of commercial facilities have been promoted, there was an increase in the number of sites where land-prices had either risen or leveled-off.

In many other local cities, the price of land for commercial use continued to decline, mainly in central commercial areas. This was due to the impact of slowing demand for office space and also the advent of large-scale suburban retailers in new locations. On the other hand, in certain parts of these cities, where urban redevelopment and traffic infrastructure development had been promoted, or where the central areas and sightseeing facilities attract visitors, we also identified sites where the extent of land-price decline had diminished; and, in some cases, where land-prices had either leveled-off or increased.

 

Chart 5-1-6 Rates of Change in Local Cities with Populations of not less than 100,000

 

( %)

　city name

Lands for Residential Use

Lands for Commercial Use
2004 2005 2004 2005
Hokkaido Sapporo city　　　　　         ◎ △6.3 △3.8 △5.7 △2.4
  ditto  Hakodate City 　 △4.5 △4.7 △6.2 △4.0
  ditto  Otaru City 　 △7.8 △10.2 △8.1 △8.4
  ditto  Asahikawa City 　 △1.9 △5.6 △8.5 △9.0
  ditto  Muroran City 　 △7.2 △5.7 △9.5 △10.0
  ditto  Kushiro City 　 △3.6 △4.1 △7.7 △8.4
  ditto Obihiro City 　 △4.1 △4.1 △9.0 △7.0
  ditto Kitami City 　 △0.9 △1.2 △5.9 △8.5
  ditto  Tomakomai City 　 △5.7 △9.7 △11.2 △12.4
  ditto  Ebetsu City 　 △6.6 △8.3 △7.9 △8.3
Aomori Prefecture  Aomori City 　 △2.3 △3.8 △9.4 △10.2
  ditto  Hirosaki City 　 △2.6 △4.2 △10.4 △10.7
  ditto  Hachinohe City 　 △2.2 △4.4 △9.8 △11.9
Iwate Prefecture  Morioka City 　 △5.2 △5.9 △9.6 △9.3
Miyagi Prefecture  Sendai City              ◎ △7.4 △6.7 △11.1 △8.8
  ditto  Ishimaki City 　 △6.9 △6.4 △10.5 △8.9
Akita Prefecture  Akita City 　 △5.2 △7.9 △11.3 △14.2
Yamagata Prefecture  Yamagata City 　 △5.9 △7.0 △11.6 △10.3
  ditto Sakata City 　 △4.0 △4.9 △6.5 △6.6
Fukushima Prefecture  Fukushima City 　 △5.9 △4.3 △10.4 △7.7
  ditto  Aizu Wakamatsu City 　 △9.2 △7.1 △10.1 △5.7
  ditto  Koriyama City 　 △7.8 △6.6 △12.9 △7.2
  ditto  Iwaki City 　 △3.9 △4.6 △12.3 △10.6
Ibaraki Prefecture Mito City 　 △8.6 △7.3 △16.8 △11.9
  ditto  Hitachi City 　 △7.0 △6.8 △11.9 △10.1
  ditto  Tsuchiura City                         ○ △11.4 △10.5 △16.7 △15.2
  ditto  Tsukuba City  ○ △6.1 △5.3 △9.1 △6.2
  ditto  Hitachinaka City 　 △6.2 △5.8 △7.9 △6.9
Tochigi Prefecture Utsunomiya City  ○ △7.6 △6.0 △14.7 △10.3
  ditto  Ashikaga City ○ △7.8 △7.5 △9.5 △9.1
Tochigi Prefecture  Oyama City ○ △9.0 △8.4 △15.4 △11.0
Gunma Prefecture  Maebashi City  ○ △6.7 △6.1 △10.8 △9.6
  ditto  Takasaki City ○ △6.9 △5.3 △10.7 △8.3
  ditto  Kiryu City ○ △5.4 △5.1 △7.4 △7.0
  ditto  Isezaki City ○ △5.0 △4.6 .△7.5 △6.5
  ditto  Ota City ○ △5.9 △4.8 △9.7 △7.6
Saitama Prefecture  Kumagaya City ○ △5.9 △4.5 △10.3 △7.1
  ditto  Fukaya City ○ △7.5 △5.3 △10.7 △9.3
Niigata Prefecture  Niigata City 　 △10.0 △7.4 △10.6 △9.7
  ditto  Nagaoka City 　 △8.7 △6.9 △12.4 △8.2
  ditto  Joetsu City 　 △3.4 △2.9 △7.1 △6.0
Toyama Prefecture  Toyama City 　 △9.8 △8.6 △13.3 △10.7
  ditto  Takaoka City 　 △9.7 △7.3 △16.2 △11.6
Ishikawa Prefecture  Kanazawa City 　 △9.9 △8.3 △12.8 △10.9
  ditto  Komatsu City 　 △9.3 △7.4 △12.4 △10.7
Fukui Prefecture  Fukui City 　 △7.7 △6.4 △13.2 △11.7
Yamanashi Prefecture  Kofu City          ○ △12.0 △10.8 △16.5 △13.8
Nagano Prefecture  Nagano City 　 △8.4 △6.7 △12.9 △7.7
  ditto  Matsumoto City 　 △9.5 △7.1 △10.2 △8.1
Gifu Prefecture  Gifu City  ○ △8.5 △8.0 △11.1 △8.5
  ditto  Ogaki City  ○ △7.2 △6.2 △10.0 △9.4
  ditto  Tajimi City ○ △8.8 △8.6 △11.0 △9.9
  ditto  Kagamigahara City  ○ △7.4 △7.4 △10.5 △8.4
Shizuoka Prefecture  Shizuoka City 　 △6.0 △4.1 △7.3 △3.6
  ditto  Hamamatsu City 　 △6.6 △2.7 △8.0 △5.0
  ditto  Numazu City 　 △6.2 △5.4 △10.3 △6.6
  ditto  Mishima City ○ △5.5 △6.4 △7.1 △5.9
  ditto  Fujinomiya City 　 △4.8 △5.7 △8.8 △4.6
  ditto  Fuji City 　 △5.1 △5.0 △6.7 △3.1
  ditto  Yaizu City 　 △5.1 △4.9 △8.9 △7.9
Shizuoka Prefecture  Fujieda City 　 △7.0 △6.5 △9.2 △8.0
Aichi Prefecture  Toyohashi City ○ △4.9 △5.8 △10.3 △8.1
  ditto  Toyokawa City ○ △5.6 △4.8 △7.2 △5.8
Mie Prefecture  Tsu City ○ △6.0 △5.2 △9.7 △7.9
  ditto  Matsuzaka City 　 △4.9 △4.2 △13.2 △12.0
  ditto  Suzuka City ○ △6.8 △6.8 △7.7 △8.7
Shiga Prefecture  Otsu City ○ △8.4 △5.1 △11.1 △5.8
  ditto  Hikone City 　 △6.2 △4.2 △9.2 △6.7
  ditto  Kusatsu City ○ △7.1 △4.8 △9.9 △4.8
Hyogo Prefecture  Himeji City ○ △11.2 △9.7 △14.3 △12.2
  ditto  Akashi City ○ △8.7 △7.2 △10.0 △6.6
  ditto  Kakogawa City ○ △11.3 △8.1 △12.5 △8.8
Wakayama Prefecture  Wakayama City ○ △7.4 △8.0 △10.0 △9.2
Tottori Prefecture  Tottori City 　 △5.6 △5.9 △11.2 △9.1
  ditto  Yonago City 　 △7.7 △7.3 △9.8 △8.9
Shimane Prefecture Matue City 　 △1.7 △2.1 △10.9 △12.0
Okayama City  Okayama City 　 △8.3 △5.7 △7.8 △4.3
  ditto  Kurashiki City 　 △6.8 △5.6 △8.1 △5.8
Hiroshima Prefecture  Hiroshima City ◎ △8.0 △6.5 △10.8 △7.6
  ditto  Kure City 　 △4.1 △4.1 △7.9 △8.0
  ditto  fukuyama City 　 △5.6 △6.4 △9.9 △8.8
  ditto  Higashi hiroshima City 　 △6.2 △5.3 △11.0 △6.6
Yamagushi Prefecture  Shimonoseki City 　 △6.3 △6.1 △11.4 △10.1
Yamaguchi Prefecture  Hofu City 　 △4.9 △5.5 △12.0 △9.0
  ditto  Iwakuni City 　 △7.8 △7.3 △11.2 △9.5
  ditto  Shunan City 　 △9.2 △8.0 △13.3 △10.1
Tokushima Prefecture  Tokushima City 　 △6.4 △6.9 △12.3 △9.6
Ehime Prefecture  Matsuyama City 　 △3.9 △3.5 △6.2 △4.7
  ditto  Imabari City 　 △7.0 △7.5 △10.4 △7.5
Kochi Prefecture  Kochi City 　 △1.0 △1.3 △9.4 △8.1
Fukuoka Prefecture  Kita Kyushu City 　 △3.5 △4.2 △8.3 △8.8
  ditto  Fukuoka City ◎ △6.7 △5.3 △6.4 △5.3
  ditto  Omuta City 　 △3.6 △6.1 △10.3 △11.2
  ditto  Kurume City 　 △5.6 △5.7 △9.2 △9.8
  ditto  Kasuga City 　 △6.9 △6.4 △9.8 △9.7
Saga Prefecture  Saga City 　 △4.4 △3.5 △12.4 △8.1
Nagasaki Prefecture  Nagasaki City 　 △9.6 △8.1 △11.8 △10.3
  ditto  Sasebo City 　 △3.7 △5.3 △10.0 △8.2
Kumamoto Prefecture  Kumamoto City 　 △5.9 △6.2 △7.6 △7.0
Oita Prefecture  Oita City 　 △2.9 △5.5 △9.2 △8.3
  ditto  Beppu City 　 △2.7 △6.9 △5.5 △8.2
Miyazaki Prefecture  MIyazaki City 　 △1.3 △1.5 △6.8 △7.4
  ditto  Nobeoka City 　 △0.6 △0.9 △3.6 △3.8
Kagoshima Prefecture  Kagoshima City 　 △1.4 △1.4 △4.8 △3.7
Okinawa Prefecture  Naha City 　 △6.4 △5.3 △7.9 △5.8
  ditto  Urasoe City 　 △5.7 △4.8 △6.4 △4.3

 

Source:  "Published Land Prices" by Ministry of Land, Infrastructure and Transport
Note : In the cities of Aizuwakamatsu, Hitachi, Maebashi, Isezaki, Joetsu, Nagano, Kakamigahara, Matsuzaka, Tottori, Kure, Matuyama, Oita and Kagoshima, the above rates of change for 2002 were revised based on the designated land-points (within cities, towns and villages) that were used for calculating published land prices in 2002 - i.e. before the municipal mergers.
The cities covered in this chart are those with populations of not less than 100,000 (as of 31 March 2004) and designated part of the cities as "Urbanization Promotion Areas".
◎ indicates "central cities in local regions"
○ indicates "cities surrounding the three metropolitan areas"

　

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