Chapter 5 Land Price Trades in 2006 as Indicated by Published Land Prices for 2007
           According to published land prices as of January 1, 2007, land prices rose in the three largest metropolitan regions during the year from January 2006. In other regions, land prices continued to fall, though with the margin of decline narrowed. On a national average basis, both residential and commercial land prices rose for the first time in 16 years. This rise, which was small, was attributable to price increases in the three largest metropolitan regions and the major cities in other regions in which price survey samples were concentrated.

 

1 Amid economic recovery and people returning to urban centers, land prices rose on a national average basis, with hikes centering on the three largest metropolitan regions and the major cities of other regions. High land price hikes in a limited range of luxury residential districts, regions with high name recognition and convenient and profitable areas along new railway lines worked to push up the average. In some regions, growing demand for condominiums and offices and expansion of the real estate securitization market contributed to land price hikes. For the future, we should pay attention to economic and interest rate trends, condominium sales price changes and other developments on the supply-side, responses to these developments on the demand-side and the effects of trends in apartment and office rent.
2 In some major cities in non-metropolitan regions, land prices began to rise or continued rising in response to urban and regional redevelopment efforts, urban development and improvements to transportation infrastructure aimed at enhancing convenience and profitability. In other regions, land prices continued to fall, though with narrowing margins of decline.
 
           Overall, the published land prices indicate that land prices increased in the three largest metropolitan regions and some of major cities in other regions and continued declining in all other areas. For the future, attention should be paid to economic and interest rate trends as well as supply/demand balance changes.
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Chart 5-1-1 Change in Published Land Prices (National Average)
Source: "Published Land Prices," Ministry of Land, Infrastructure and Transport


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Chart 5-1-2
 Land Price Changes by Prefecture
*
@
@
The margin of decline expanded from the previous year
Changes are rises from the previous year
(Unit: %)

Residential land

 Commercial land
2005 2006 2007 2005 2006 2007
Japan ’ 4.6 ’ 2.7 0.1 ’ 5.6 ’ 2.7 2.3
Three largest
metropolitan regions		 ’ 3.7 ’ 1.2 2.8 ’ 3.2 1.0 8.9
@Tokyo region ’ 3.2 ’ 0.9 3.6 ’ 2.5 1.0 9.4
@Osaka region ’ 5.2 ’ 1.6 1.8 ’ 5.0 0.8 8.3
@Nagoya region ’ 3.3 ’ 1.3 1.7 ’ 3.3 0.9 7.8
@Other regions ’ 5.4 ’ 4.2 ’ 2.7 ’ 7.5 ’ 5.5 ’ 2.8
@ 01.Hokkaido ’ 4.6 ’ 3.1 ’ 1.2 ’ 5.2 ’ 3.3 0.8
02. Aomori ’ 4.0 ’ 4.4 ’ 3.9 ’ 10.2 ’ 10.0 ’ 7.8
03. Iwate ’ 3.4 ’ 3.8 ’ 3.3 ’ 8.1 ’ 8.0 ’ 7.4
04. Miyagi  ’ 6.4 ’ 5.2 ’ 2.6 ’ 9.0 ’ 5.1 2.7
05. Akita  ’ 5.3 ’ 5.2 ’ 4.4 ’ 10.7 ’ 10.1 ’ 8.3
06. Yamagata ’ 4.8 ’ 5.2 ’ 4.7 ’ 8.1 ’ 7.5 ’ 6.2
07. Fukushima ’ 5.0 ’ 4.2 ’ 3.1 ’ 7.7 ’ 5.7 ’ 3.8
08. Ibaraki ’ 7.2 ’ 5.7 ’ 3.6 ’ 9.7 ’ 7.3 ’ 4.4
09. Tochigi ’ 6.3 ’ 4.9 ’ 3.2 ’ 9.6 ’ 7.3 ’ 4.5
10. Gunma ’ 5.1 ’ 3.5 ’ 2.3 ’ 8.0 ’ 5.8 ’ 4.0
11. Saitama ’ 3.5 ’ 1.7 0.7 ’ 4.3 ’ 1.8 1.9
12. Chiba ’ 4.5 ’ 1.5 1.6 ’ 5.7 ’ 0.8 3.6
13. Tokyo ’ 1.7 0.8 8.0 ’ 0.9 2.9 13.9
14. Kanagawa ’ 3.7 ’ 1.9 1.7 ’ 4.4 ’ 1.9 4.1
15. Niigata ’ 6.0 ’ 4.3 ’ 2.6 ’ 8.3 ’ 6.5 ’ 4.4
16. Toyama ’ 7.3 ’ 4.4 ’ 3.2 ’ 10.2 ’ 6.3 ’ 4.1
17. Ishikawa ’ 7.4 ’ 4.4 ’ 2.3 ’ 9.4 ’ 5.5 ’ 2.5
18. Fukui ’ 5.9 ’ 5.3 ’ 5.1 ’ 9.2 ’ 7.7 ’ 6.5
19. Yamanashi ’ 9.0 ’ 6.5 ’ 3.4 ’ 10.5 ’ 7.7 ’ 4.3
20. Nagano ’ 6.1 ’ 5.4 ’ 4.0 ’ 8.0 ’ 6.5 ’ 4.5
21. Gifu ’ 7.2 ’ 5.7 ’ 3.2 ’ 9.1 ’ 6.9 ’ 3.7
22. Shizuoka ’ 4.6 ’ 2.9 ’ 1.0 ’ 5.1 ’ 3.0 ’ 0.6
23. Aichi @ ’ 3.0 ’ 1.1 1.9 ’ 3.3 0.9 7.6
24. Mie ’ 6.0 ’ 4.7 ’ 2.9 ’ 8.1 ’ 6.2 ’ 3.5
25. Shiga ’ 4.3 ’ 1.9 1.2 ’ 5.7 ’ 2.4 2.1
26. Kyoto ’ 5.8 ’ 1.8 1.6 ’ 4.5 1.7 7.7
27. Osaka @ ’ 5.3 ’ 1.9 1.9 ’ 5.2 1.2 10.3
28. Hyogo ’ 5.3 ’ 2.0 0.8 ’ 7.0 ’ 2.8 1.3
29. Nara  ’ 5.9 ’ 2.8 ’ 0.2 ’ 7.0 ’ 3.5 ’ 0.6
30. Wakayama @ ’ 6.7 ’ 5.5 ’ 3.7 ’ 9.0 ’ 7.1 ’ 4.7
31. Tottori  ’ 5.2 ’ 4.9 ’ 3.7 ’ 7.6 ’ 6.5 ’ 5.1
32. Shimane ’ 1.3 ’ 1.4 ’ 1.6 ’ 6.0 ’ 5.2 ’ 4.3
33. Okayama ’ 5.5 ’ 3.5 ’ 1.4 ’ 5.4 ’ 2.8 ’ 0.9
34. Hiroshima ’ 5.7 ’ 4.4 ’ 2.5 ’ 7.2 ’ 4.6 ’ 1.6
35. Yamaguchi ’ 5.9 ’ 4.7 ’ 3.8 ’ 8.4 ’ 6.3 ’ 4.6
36. Tokushima@ ’ 7.3 ’ 6.6 ’ 5.3 ’ 9.6 ’ 8.2 ’ 5.8
37. Kagawa  ’ 6.2 ’ 6.6 ’ 6.8 ’ 9.1 ’ 8.3 ’ 7.4
38. Ehime ’ 5.2 ’ 3.1 ’ 2.1 ’ 6.7 ’ 3.7 ’ 1.2
39. Kochi  ’ 1.8 ’ 2.4 ’ 2.9 ’ 7.6 ’ 7.5 ’ 6.4
40. Fukuoka ’ 5.1 ’ 4.2 ’ 2.6 ’ 7.6 ’ 5.7 ’ 0.4
41. Saga ’ 2.5 ’ 2.4 ’ 2.1 ’ 5.6 ’ 4.9 ’ 3.8
42. Nagasaki ’ 5.4 ’ 5.3 ’ 4.4 ’ 8.1 ’ 7.3 ’ 6.0
43. Kumamoto ’ 5.6 ’ 5.8 ’ 4.4 ’ 6.9 ’ 7.4 ’ 5.6
44. Oita ’ 5.2 ’ 4.8 ’ 4.6 ’ 7.0 ’ 5.5 ’ 4.4
45. Miyazaki ’ 1.2 ’ 1.4 ’ 1.0 ’ 4.1 ’ 3.9 ’ 2.8
46. Kagoshima ’ 1.5 ’ 1.7 ’ 1.9 ’ 4.3 ’ 3.7 ’ 3.2
47. Okinawa  ’ 5.5 ’ 4.0 ’ 2.3 ’ 6.7 ’ 4.1 ’ 1.8
Source: "Published Land Prices," Ministry of Land, Infrastructure and Transport
1 ’ indicates a price fall.
2 Percentage changes represent simple average changes for the same standard land sites. 
3 The three largest metropolitan regions are the Tokyo, Osaka and Nagoya regions
Tokyo region: cities, wards, towns and villages including existing built-up areas and suburban development and redevelopment areas based on the "National Capital Region Development Act"
Osaka region: cities, towns and villages including existing built-up areas and suburban development and redevelopment areas based on the "Kinki Region Development Act"
Nagoya region: cities, towns and villages including existing urban development areas based on the "Chubu Region Development Act"
4 Other regions consist of all regions other than the three largest metropolitan regions.
1. Overview of the Tokyo Region
 

(1) Residential land
              Residential land prices in the Tokyo region registered an overall 3.6% hike, the first increase in 16 years, since 1991 (a median rise was 2.3%).
              Tokyo's wards posted residential land price hikes on the back of people's return to the urban center, robust demand for condominiums and expansion of real estate investment. In particular, Minato and Shibuya Wards featured sites that recorded hikes exceeding 30% or 40%. These sites are in luxury residential districts that feature extensive name recognition, excellent convenience and diverse facilities in close proximity to commercial districts. Such sites account for only 0.5% of the Tokyo region sample sites.
              Residential land price levels for the central wards of Tokyo were close to those from around 1984.
              Adachi Ward and Moriya City included sites with land price hikes exceeding 30% due to the opening of the new Tsukuba Express railway line.
              The cities of Mitaka, Musashino and Tachikawa, located along a key railway line in suburban Tokyo, as well as the cities of Kawasaki, Yokohama, Chiba and Saitama, saw their overall land price rise as demand increased for condominiums in excellent and convenient living environments close to railway stations.
              The Tokyo region's marginal areas saw residential land prices continuing to fall, though at a slower pace than in the past. These areas have less convenience for commuting or relatively slack demand for residential land.

(2) Commercial land
              Commercial land prices in the Tokyo region registered an overall 9.4% hike, the second consecutive rise (a median rise was 8.0%).
              Advanced commercial zones in Shibuya and Minato Wards recorded high land price hikes, exceeding 30% or 40% at some points, as their convenience and profitability increased on growth in corporate office demand and real estate investment amid economic recovery. However, sites scoring such high land price hikes are limited to 2% of commercial land site samples in the Tokyo region.
              Commercial land price levels for the central wards of Tokyo were close to those in the 1980.
              In suburban Tokyo, Tachikawa, Chofu and Musashino Cities along key railway lines registered overall commercial land price rise due to increases in their prosperity or profitability.
              Yokohama, Kawasaki and Kawaguchi Cities also posted overall commercial land price hikes as their prosperity and profitability improved due to redevelopment projects around railway stations.
              Urayasu, Ichikawa and Chiba Cities, all in close proximity to central Tokyo, recorded overall commercial land price rise for the second consecutive year. Saitama City also posted an overall rise. These hikes are attributable to expectations that growing demand for and construction of condominiums in these cities could attract consumers. Other major cities in commercial zones and sites between these cities and central Tokyo also posted overall commercial land price increases.
              Moriya City scored rises of more than 20% at some sites and posted an overall commercial land price increase for the second consecutive year, while Tsukuba Mirai City recorded an overall rise. These price hikes are attributable to the launch of the Tsukuba Express railway line.
              The Tokyo region's outlying areas saw commercial land prices continue to fall, though at a slower pace than in the past. This may have been due to old commercial facilities in these areas losing customers to new large suburban facilities.

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Chart 5-1-3 Land Price Changes in Tokyo Region by Area

(unit: %)
 

 Residential land

Commercial land
2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007		 2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007
Tokyo  0.8 8.0 3.0 14.0
@ Tokyo Wards  2.2 11.4 3.7 15.9
    Central wards 6.3 18.0 5.0 18.3
Southwest wards  1.5 10.1 2.8 13.4
Northeast wards  0.9 9.8 1.1 12.8
Tama area ’ 0.7 4.6 0.0 5.6
Kanagawa Prefecture ’ 1.8 1.7 ’ 1.8 4.2
@ Yokohama City ’ 1.4 3.2 ’ 1.4 7.0
Kawasaki City ’ 0.2 5.3 ’ 0.5 6.7
Other areas ’ 2.8 ’ 0.8 ’ 3.0 ’ 0.4
Saitama Prefecture ’ 1.6 0.9 ’ 1.5 2.3
@

@

 Saitama City ’ 0.1 2.7 ’ 0.5 4.8
Other areas ’ 2.0 0.5 ’ 1.9 1.3
Chiba Prefecture ’ 1.2 1.8 0.1 5.0
@

@

 Chiba City ’ 1.1 2.2 0.5 7.2
Other areas ’ 1.3 1.7 0.0 4.3
Ibaraki Prefecture ’ 4.5 ’ 1.3 ’ 6.3 ’ 1.6
Tokyo region ’ 0.9 3.6 1.0 9.4
(Note) Price changes in 2006 represent those for pre-merger municipalities .
1 "Central wards" include Chiyoda, Chuo, Minato, Shinjuku, Bunkyo, Taito, Shibuya and Toshima.
"Southwestern wards" include Shinagawa, Meguro, Ota, Setagaya, Nakan, Suginami and Nerima.
"Northeastern wards" include Sumida, Koto, Kita, Arakawa, Itabashi, Adachi, Katsushika and Edogawa.@


 

2. Overview of the Osaka Region
 

(1) Residential land
              Residential land prices in the Osaka region recorded an average 1.8% hike, the first increase in 16 years, since 1991 (the median rise was 1.7%).
              On the back of people's return to urban centers, Osaka, Kyoto and Kobe Cities recorded overall residential land price rises. Traditional luxury residential zones posted rises exceeding 10%, although these were limited to some 1% of all sample sites in the region.
              The cities of Ashiya and Nishinomiya in the Hanshin area, as well as suburban cities of Takatsuki, Ibaraki and Sakai, scored overall residential land price hikes as price-rising sites increased in zones that offer excellent proximity to the center of Osaka, convenience for daily life and good overall living conditions.
              In suburbs of Kyoto City, the cities of Muko and Nagaokakyo recorded overall residential land price rises as demand emerged in zones that offer excellent convenience and living conditions.
              The Osaka region's outlying areas saw residential land prices continue to fall, though at a slower pace than in the past. Demand has been slack for residential zones in these areas, given their distance from the center of Osaka and their lack of convenience.

(2) Commercial land
              Commercial land prices in the Osaka region scored an overall 8.3% rise, the second consecutive rise (a median rise was 5.0%).
              Osaka City recorded an overall rise as hikes accelerated in Kita, Chuo and Nishi Wards. Some zones around Osaka Station and Midosuji Street scored hikes exceeding 30% or 40% as their prosperity and profitability improved due to progress in the redevelopment of zones close to the station where demand for offices is considerable. However, sites registering such high land price hikes were limited to 2% of the commercial land site samples in the Osaka region.
              Commercial land price levels for the six central wards of Osaka City were close to those in or before 1974.
              In Kyoto Prefecture, Kyoto City's Nakagyo and Shimogyo Wards posted overall rises in commercial land prices for the second consecutive year as price hikes accelerated in highly prosperous zones and advantageous business office areas. Kyoto City' s neighboring cities of Muko and Nagaokakyo posted overall commercial land price hikes as a result of improved convenience by way of development projects near railway stations.
              In Hyogo Prefecture, Kobe City recorded an overall rise in commercial land price as the number of sites with rising prices increased due to growing office demand amid economic recovery at advanced commercial zones in the city center. The Hanshin area also scored an overall hike as the number of sites with rising prices increased in cities that offer excellent proximity to Osaka City and convenient traffic access.
              The Osaka region's outlying areas saw commercial land prices continue to fall, though at a slower pace than in the past. This may be due to the fact that old commercial facilities in these areas lost customers to new large suburban facilities.


 

Chart 5-2-1 Land Price Changes in Osaka Region by Area

(%)
 

Residential land

Commercial land
2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007		 2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007
Osaka prefecture ’ 1.9 1.9 1.2 10.3
@ Osaka City ’ 0.5 2.3 3.4 15.0
@ Six central wards 1.7 5.5 6.0 20.7
Northern Osaka ’ 1.8 3.3 ’ 1.5 7.6
Eastern Osaka ’ 1.0 2.5 ’ 0.6 4.6
Southern Osaka ’ 3.1 0.7 ’ 2.6 2.4
@ Sakai City ’ 0.5 2.3 ’ 0.5 6.0
Hyogo Prefecture ’ 0.8 2.1 ’ 0.3 4.7
  Kobe City ’ 2.9 0.6 ’ 0.6 6.4
  Four eastern wards 0.8 5.4 0.4 9.6
Hanshin area 1.2 3.4 0.1 3.0
Kyoto Prefecture ’ 1.4 2.3 3.2 10.1
  Kyoto City ’ 0.2 3.5 4.1 11.6
  Five central wards 2.2 4.5 6.6 15.1
  Other areas ’ 2.8 0.7 ’ 2.3 1.8
Nara Prefecture ’ 2.8 ’ 0.2 ’ 3.5 ’ 0.6
  Nara City ’ 2.2 1.0 ’ 2.4 1.3
Osaka Region ’ 1.6 1.8 0.8 8.3
(Note)
1: The "Six central wards in Osaka City" are Kita, Fukushima, Chuo, Nishi, Tennoji and Naniwa.
2:  "Northern Osaka" includes Toyonaka City, Ikeda City, Suita City, Takatsuki City, Ibaraki City, Mino-o City, Settsu City, Shimamoto Town, Toyono Town and Nose Town. "Eastern Osaka" includes Moriguchi City, Hirakata City, Yao City, Neyagawa City, Daito City, Kashiwara City, Kadoma City, Higashi Osaka City, Shijonawate City and Katano City. "Southern Osaka" includes Osaka Prefecture other than Osaka City, Northern Osaka and Eastern Osaka.
3: The "Four eastern wards of Kobe City" are Higashinada, Nada, Hyogo and Chuo.
4:  The "Hanshin area" includes Amagasaki City, Nishinomiya City, Ashiya City, Itami City, Takarazuka City, Kawanishi City, Sanda City and Inagawa Town
5:  The "Five central wards of Kyoto City" are Kita, Kamigyo, Sakyo, Nakagyo and Shimogyo.

 


3. Overview of the Nagoya Region
 

(1) Residential land
              Residential land prices in the Nagoya region registered an overall 1.7% hike, the first increase in 16 years, since 1991 (a median rise was 0.9%).
              Nagoya City posted an overall residential land price rise for the second straight year as demand for residential land emerged with economic recovery in areas that offer excellent convenience and living conditions. An increasing number of municipalities registered overall rises in the Nishi Mikawa area, as well as the Eastern Owari district located between Nishi Mikawa and Nagoya City, as a rise in the number of price-rising sites accompanied firm housing demand amid a robust regional economy.
              Nagoya City included some sites that recorded hikes exceeding 10%. These were limited to traditional luxury residential zones as well as housing sites offering excellent convenience and living conditions.
              The Nagoya region's outlying areas saw residential land prices continue to fall. These include areas with inconvenient access to Nagoya City and those with relatively slack demand for residential land.

(2) Commercial land
              Commercial land prices in the Nagoya region registered an overall 7.8% rise, the second consecutive rise (a median rise was 2.4%).
              In Nagoya City, the areas around Nagoya Station and Sakae had sites recording hikes exceeding 30% or 40%. These were limited to sites that saw high office concentrations due to the construction of high-rise buildings as well as improved prosperity and profitability.
              Commercial land price levels for Nagoya City were close to those in or before 1974.
              The cities of Okazaki and Toyota recorded overall rises in commercial land prices due primarily to their brisk regional economies.
              The Nagoya region's outlying areas saw commercial land prices continue to fall, though at a slower pace, due perhaps to the fact that old commercial facilities in these areas lost customers to new large suburban facilities.


 

 

Chart 5-3-1 Land Price Changes in the Nagoya Region by Area

( %)
 

Residential land

Commercial land
2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007		 2006
January 1, 2005
to
January 1, 2006		 2007
January 1, 2006
to
January 1, 2007
Aichi Prefecture ’ 0.9 2.2 1.4 8.5
  Nagoya City 1.4 6.6 5.0 16.1
Owari Area ’ 2.4 0.3 ’ 3.9 ’ 1.0
Nishi Mikawa Area ’ 0.5 1.0 ’ 1.2 0.5
Chita Area ’ 3.3 ’ 1.8 ’ 5.2 ’ 2.9
Mie Prefecture ’ 4.6 ’ 2.0 ’ 5.8 ’ 2.1
  Yokkaichi City ’ 4.7 ’ 1.9 ’ 6.0 ’ 1.8
Nagoya region ’ 1.3 1.7 0.9 7.8
Note: The areas in Aichi Prefecture are as follows:
The "Owari area" includes Ichinomiya City, Seto City, Kasugai City, Tsushima City, Inuyama City, Konan City, Komaki City, Inazawa City, Owariasahi City, Iweakura City, Toyoake City, Nisshin City, Aisai City, Kiyosu City, Kitanagoya City, Yatomi City, Togo Town, Nagakute Town, Toyoyama Town, Haruhi Town, Oguchi Town, Fuso Town, Shippo Town, Miwa Town, Jimokuji Town, Oharu Town, Kanie Town and Tobishima Village.
The "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.
The "Chita area" includes Handa City, Tokoname City, Tokai City, Obu City, Chita City, Agui Town, Higashiura Town, Minamichita Town, Mihama Town and Taketoyo Town.


 

 

4. Overview of Other Regions
 

(1) Residential land
             Regions other than the three largest metropolitan regions together posted an overall decline in residential land prices of 4.2%, against 2.7% in the previous year. The margin of decline narrowed for the third consecutive year.
              Among major cities in these non-metropolitan regions, Sapporo scored an overall increase for the second consecutive year. Fukuoka posted its first rise in 15 years, since 1992. Sendai's Wakabayashi Ward and Hiroshima's Naka Ward also recorded overall rises. Sapporo and Fukuoka had sites that posted hikes exceeding 20%.
              Some other major cities in these non-metropolitan regions saw residential land price hikes based on urban and transportation infrastructure development and other townbuilding efforts. Okayama scored an average hike, while sites with rising prices emerged in Kanazawa and Matsuyama.
              Elsewhere, Karuizawa Town in Nagano Prefecture posted a hike based on rising demand for luxury resort housing. Onna Town in Okinawa Prefecture scored a rise based on the promotion of tourism.
              In regions other than those cited above, residential land prices were still falling as the declining population eased the supply/demand relationship mainly in suburban areas.

(2) Commercial land
              Regions other than the three largest metropolitan regions together posted an overall decline in commercial land prices of 5.5% against 2.8% in the previous year. The margin of decline narrowed for the third consecutive year.
              Among major cities in these non-metropolitan regions, Sapporo scored an average hike for the second consecutive year. Sendai and Hiroshima recorded their first rises in 16 years, since 1991. Fukuoka posted its first rise in 15 years, since 1992. Sapporo, Sendai and Fukuoka in particular exhibited sites registering commercial land price hikes exceeding 30% based on improved prosperity and profitability.
              Some other major cities in these non-metropolitan regions saw commercial land price hikes based on new developments in urban and transportation infrastructure. Specifically, Shizuoka, Hamamatsu, Okayama and Matsuyama scored overall hikes. Mito, Nagano and Kanazawa had sites whose prices rose due to urban development and rezoning in the areas surrounding railway stations.
              Among other cities, Hakodate had sites exhibiting price hikes based on greater demand for hotels amid expectations of the inauguration of a new bullet train line. Takaoka had sites that succeeded in avoiding price declines. Higashihiroshima revealed sites with rising prices, as a result of rezoning of areas surrounding railway stations. Dazaifu saw some sites register hikes based on the promotion of tourism.
              In regions other than those cited above, commercial land prices continued to fall due to the withdrawal of core large facilities and the construction of new large suburban commercial facilities.

 



Chart 5-4-1 Land Price Changes for Cities with Population of 100,000 or More

( %)

Region

 Prefecture City Name
(Population in tens of thousands)

Residential land

Commercial land
2006

Change		 2007 2006

Change		 2007
Change Number of points Change Number of points
Hokkaido Hokkaido Sapporo City (187) 0.1 3.1 339 2.1 9.3 146
@ @ Hakodate City (  29) ’ 3.7 ’ 3.6 36 ’ 2.8 ’ 0.2 23
@ @ Otaru City (  14) ’ 11.8 ’ 9.2 32 ’ 9.3 ’ 7.7 9
@ @ Asahikawa City (  36) ’ 6.6 ’ 3.8 55 ’ 7.1 ’ 3.0 20
@ @ Kushiro City (  19) ’ 5.8 ’ 5.1 35 ’ 9.5 ’ 7.3 13
@ @ Obihiro City (  17) ’ 3.9 ’ 3.1 32 ’ 6.0 ’ 4.4 10
@ @ Kitami City (  13) ’ 1.8 ’ 1.9 19 ’ 8.2 ’ 6.2 5
@ @ Tomakomai City (  17) ’ 8.3 ’ 4.6 38 ’ 12.7 ’ 7.7 10
@ @ Ebetsu City (  12) ’ 7.4 ’ 3.2 31 ’ 7.5 ’ 3.9 7
Tohoku Aomori Aomori City (  31) ’ 4.1 ’ 3.3 54 ’ 9.9 ’ 6.6 16
@ @ Hirosaki City (  19) ’ 4.4 ’ 3.5 28 ’ 7.8 ’ 3.9 9
@ @ Hachinohe City (  25) ’ 4.8 ’ 4.4 41 ’ 10.4 ’ 8.6 10
@ Iwate Morioka City (  29) ’ 5.9 ’ 4.8 47 ’ 8.9 ’ 7.6 18
@ @ Hanamaki City (  11) ’ 1.7 ’ 1.5 9 ’ 5.7 ’ 4.9 4
@ @ Ichinoseki City (  13) ’ 3.4 ’ 3.1 7 ’ 9.3 ’ 9.3 4
@ @ Oshu City (  13) ’ 2.3 ’ 2.1 10 ’ 6.4 ’ 6.5 5
@ Miyagi Sendai City (100) ’ 4.8 ’ 1.2 242 ’ 2.6 10.8 76
@ @ Ishinomaki City (  17) ’ 6.9 ’ 5.9 28 ’ 8.2 ’ 8.0 10
@ @ Osaki City (  14) ’ 5.6 ’ 4.9 12 ’ 8.2 ’ 7.5 6
@ Akita Akita City (  33) ’ 7.0 ’ 5.6 66 ’ 12.3 ’ 9.3 22
@ @ Yokote City (  11) ’ 4.4 ’ 3.8 9 ’ 12.1 ’ 8.9 3
@ Yamagata Yamagata City (  25) ’ 7.2 ’ 5.8 33 ’ 7.9 ’ 5.1 14
@ @ Tsuruoka City (  14) ’ 3.9 ’ 3.8 13 ’ 8.7 ’ 6.9 6
@ @ Sakata City (  12) ’ 5.5 ’ 5.4 19 ’ 7.6 ’ 6.8 5
@ Fukushima Fukushima City (  29) ’ 3.7 ’ 2.8 43 ’ 5.5 ’ 3.2 19
@ @ Aizu Wakamatsu City (  13) ’ 5.0 ’ 3.2 24 ’ 4.2 ’ 2.6 8
@ @ Koriyama City (  33) ’ 4.6 ’ 2.3 54 ’ 4.4 ’ 1.7 19
@ @ Iwaki City (  36) ’ 4.3 ’ 3.7 77 ’ 6.7 ’ 4.4 16
@ Niigata Niigata City (  80) ’ 4.9 ’ 2.5 112 ’ 6.4 ’ 2.7 32
@ @ Nagaoka City (  28) ’ 3.2 ’ 1.3 39 ’ 5.9 ’ 3.3 12
@ @ Sanjo City (  11) ’ 2.8 ’ 1.9 7 ’ 7.5 ’ 3.7 3
@ @ Shibata City (  11) ’ 5.7 ’ 2.7 10 ’ 8.7 ’ 4.8 6
@ @ Joetsu City (  21) ’ 2.5 ’ 1.8 31 ’ 5.3 ’ 4.7 9
Kanto Ibaraki Mito City (  26) ’ 5.7 ’ 4.9 57 ’ 6.2 ’ 3.0 17
@ @ Hitachi City (  20) ’ 5.3 ’ 2.8 41 ’ 7.6 ’ 3.9 9
@ @ Tsuchiura City (  14) ’ 9.3 ’ 5.5 30 ’ 10.7 ’ 6.1 11
@ @ Koga City (  15) ’ 5.9 ’ 2.7 27 ’ 8.5 ’ 4.3 8
@ @ Tsukuba City (  19) ’ 2.7 ’ 0.2 24 ’ 0.5 1.6 4
@ @ Hitachinaka City (  16) ’ 6.5 ’ 8.0 31 ’ 5.9 ’ 9.5 7
@ @ Chikusei City (  11) ’ 6.7 ’ 4.0 14 ’ 7.7 ’ 4.9 4
@ Tochigi Utsunomiya City (  45) ’ 3.8 ’ 2.1 74 ’ 7.1 ’ 3.5 24
@ @ Asikaga City (  16) ’ 6.2 ’ 3.9 24 ’ 8.5 ’ 6.8 4
@ @ Sano City (  13) ’ 5.3 ’ 3.6 28 ’ 7.2 ’ 5.5 4
@ @ Kanuma City (  10) ’ 4.4 ’ 2.7 19 ’ 6.0 ’ 4.1 4
@ @ Oyama City (  16) ’ 6.2 ’ 3.5 25 ’ 7.9 ’ 4.3 4
@ @ Nasushiobara City (  11) ’ 5.8 ’ 4.0 8 ’ 9.0 ’ 6.5 4
@ Gunma Maebashi City (  32) ’ 3.9 ’ 2.0 45 ’ 7.6 ’ 5.2 23
@ @ Takasaki City (  34) ’ 3.0 ’ 1.5 47 ’ 5.2 ’ 3.5 18
@ @ Kiryu City (  13) ’ 4.2 ’ 2.9 21 ’ 4.7 ’ 2.6 6
@ @ Isezaki City (  20) ’ 3.7 ’ 2.9 28 ’ 5.2 ’ 3.8 8
@ @ Ota City (  21) ’ 3.5 ’ 2.2 33 ’ 4.2 ’ 2.2 8
@ Saitama Fukuya City (  15) ’ 2.9 ’ 1.3 18 ’ 5.5 ’ 2.6 5
@ Yamanashi Kofu City (  19) ’ 7.6 ’ 3.4 33 ’ 8.6 ’ 3.9 15
@ Nagano Nagano City (  38) ’ 5.6 ’ 3.2 55 ’ 4.9 ’ 1.6 23
@ @ Matsumoto City (  22) ’ 6.0 ’ 4.0 30 ’ 6.3 ’ 4.6 10
@ @ Ueda City (  16) ’ 6.6 ’ 5.4 10 ’ 8.1 ’ 6.8 6
@ @ Iida City (  11) ’ 3.5 ’ 3.2 8 ’ 5.9 ’ 4.9 3
@ @ Saku City (  10) ’ 5.5 ’ 4.8 6 ’ 9.1 ’ 7.0 4
@Hokuriku Toyama Toyama City (  42) ’ 5.0 ’ 3.4 67 ’ 6.3 ’ 3.9 28
@ @ Takaoka City (  18) ’ 4.3 ’ 3.0 27 ’ 7.0 ’ 3.8 9
@ Ishikawa Kanazawa City (  44) ’ 4.8 ’ 2.4 70 ’ 5.4 ’ 1.0 25
@ @ Komatsu City (  11) ’ 4.4 ’ 2.3 18 ’ 7.1 ’ 3.9 5
@ @ Hakusan City (  11) ’ 3.4 ’ 1.3 10 ’ 5.5 ’ 3.4 3
@ Fukui Fukui City (  27) ’ 5.4 ’ 4.6 41 ’ 7.5 ’ 4.8 15
Chubu Gifu Gifu City (  41) ’ 5.6 ’ 2.7 71 ’ 6.1 ’ 3.2 27
@ @ Ogaki City (  16) ’ 4.9 ’ 2.1 26 ’ 6.0 ’ 2.5 9
@ @ Tajimi City (  12) ’ 6.4 ’ 4.3 18 ’ 8.1 ’ 4.0 4
@ @ Kakamigahara City (  15) ’ 6.0 ’ 4.2 25 ’ 6.9 ’ 5.0 4
@ Sizuoka Sizuoka City (  71) ’ 2.5 ’ 0.2 94 ’ 1.1 1.9 37
@ @ Hamamatsu City (  79) ’ 0.5 1.0 89 ’ 1.9 0.4 39
@ @ Numazu City (  21) ’ 3.9 ’ 2.0 30 ’ 4.7 ’ 2.1 13
@ @ Mishima City (  11) ’ 4.6 ’ 1.7 12 ’ 3.6 ’ 1.1 7
@ @ Fujinomiya City (  12) ’ 3.7 ’ 1.7 23 ’ 2.5 ’ 2.0 5
@ @ Fuji City (  24) ’ 3.2 ’ 1.8 47 ’ 2.0 ’ 1.2 13
@ @ Iwata City (  17) ’ 2.0 ’ 0.4 19 ’ 2.8 ’ 1.5 4
@ @ Yaizu City (  12) ’ 4.2 ’ 2.6 15 ’ 5.9 ’ 4.4 2
@ @ Kakegawa City (  12) ’ 2.9 ’ 1.5 7 ’ 3.1 ’ 1.9 6
@ @ Fujieda City (  13) ’ 5.6 ’ 2.6 17 ’ 7.5 ’ 3.7 5
@ Aichi Toyohashi City (  36) ’ 4.4 ’ 1.1 38 ’ 6.0 ’ 2.6 20
@ @ Toyokawa City (  13) ’ 2.2 ’ 1.3 21 ’ 4.1 ’ 1.9 10
@ Mie Tsu City (  28) ’ 4.6 ’ 3.7 36 ’ 5.8 ’ 3.7 18
@ @ Ise City (  14) ’ 3.0 ’ 1.9 13 ’ 5.3 ’ 3.1 7
@ @ Matsuzaka City (  17) ’ 3.1 ’ 2.8 24 ’ 6.7 ’ 4.0 8
@ @ Suzuka City (  19) ’ 5.9 ’ 4.4 30 ’ 8.3 ’ 6.1 5
Kinki Shiga Otsu City (  32) ’ 1.9 2.4 52 ’ 1.2 5.0 27
@ Hikone City (  11) ’ 2.6 0.1 17 ’ 3.7 0.5 7
@ @ Kusatsu City (  11) ’ 1.5 5.1 12 ’ 0.2 5.8 9
@ @ Higashiomi City (  11) ’ 2.0 ’ 0.6 19 ’ 3.0 ’ 1.1 9
@ Hyogo Himeji City (  53) ’ 5.1 ’ 1.6 83 ’ 5.3 ’ 1.3 27
@ @ Aakashi City (  29) ’ 3.6 ’ 1.2 35 ’ 4.8 ’ 2.5 13
@ @ Kakogawa City (  27) ’ 5.0 ’ 2.3 32 ’ 5.6 ’ 1.8 6
@ Wakayama Wakayama City (  39) ’ 5.9 ’ 3.3 63 ’ 5.8 ’ 2.6 25
Chugoku Tottori Tottori City (  20) ’ 5.6 ’ 3.8 35 ’ 7.0 ’ 5.3 11
@ @ Yonago City (  15) ’ 5.6 ’ 4.0 19 ’ 6.7 ’ 4.6 7
@ Shimane Matsue City (  19) ’ 1.9 ’ 2.2 35 ’ 7.2 ’ 5.1 12
@ @ Izumo City (  15) ’ 0.6 ’ 0.5 10 ’ 5.4 ’ 4.4 7
@ Okayama Okayama City (  66) ’ 3.1 0.4 95 ’ 0.7 1.4 45
@ @ Kurashiki City (  47) ’ 3.7 ’ 2.2 76 ’ 4.2 ’ 2.1 17
@ @ Tsuyama City (  11) ’ 3.2 ’ 2.2 9 ’ 4.3 ’ 2.5 3
@ Hiroshima Hiroshima City (114) ’ 4.2 ’ 1.5 212 ’ 2.9 2.0 66
@ @ Kure City (  25) ’ 4.3 ’ 4.0 33 ’ 6.5 ’ 5.0 17
@ @ Mihara City (  10) ’ 3.8 ’ 3.5 11 ’ 4.4 ’ 4.2 4
@ @ Onomichi City (  15) ’ 4.3 ’ 2.9 25 ’ 5.5 ’ 4.6 9
@ @ Fukuyama City (  46) ’ 5.5 ’ 3.6 78 ’ 7.3 ’ 5.2 25
@ @ Higashihiroshima City (  18) ’ 4.4 ’ 3.2 24 ’ 5.4 ’ 1.1 7
@ @ Hatsukaichi City (  12) ’ 5.8 ’ 4.4 24 ’ 6.2 ’ 3.8 6
@ Yamaguchi Shimonoseki City (  29) ’ 4.7 ’ 3.7 65 ’ 6.5 ’ 4.0 20
@ @ Ube City (  18) ’ 4.5 ’ 3.4 10 ’ 5.4 ’ 5.1 6
@ @ Yamagauchi City (  19) ’ 3.7 ’ 3.3 13 ’ 4.3 ’ 3.4 9
@ @ Hofu City (  12) ’ 4.9 ’ 3.9 19 ’ 7.7 ’ 5.3 7
@ @ Iwakuni City (  15) ’ 5.6 ’ 4.4 26 ’ 6.6 ’ 5.6 14
@ @ Shunan City (  15) ’ 5.8 ’ 4.7 29 ’ 7.1 ’ 5.4 11
Shikoku Tokushima Tokushima City (  26) ’ 6.3 ’ 4.8 37 ’ 7.8 ’ 5.3 18
@ Kagawa Takamatsu City (  42) ’ 7.7 ’ 7.8 61 ’ 8.7 ’ 6.6 21
@ @ Marugame City (  11) ’ 6.3 ’ 6.6 14 ’ 8.8 ’ 8.6 5
@ Ehime Matsuyama City (  51) ’ 2.0 ’ 0.6 52 ’ 2.2 2.2 35
@ @ Imabari City (  18) ’ 6.5 ’ 4.9 21 ’ 5.5 ’ 3.1 8
@ @ Niihama City (  13) ’ 2.4 ’ 1.8 23 ’ 3.0 ’ 2.4 7
@ @ Saijo City (  12) ’ 3.8 ’ 3.0 20 ’ 5.8 ’ 5.0 6
@ Kochi Kochi City (  33) ’ 1.9 ’ 2.6 49 ’ 7.4 ’ 5.6 16
Kyushu Fukuoka Kitakyushu City (  99) ’ 4.7 ’ 4.4 156 ’ 8.8 ’ 7.5 67
@ @ Fukuoka City (135) ’ 3.0 0.4 212 ’ 0.6 12.9 78
@ @ Omuta City (  13) ’ 5.8 ’ 5.3 28 ’ 10.8 ’ 8.4 10
@ @ Kurume City (  30) ’ 4.6 ’ 3.7 40 ’ 7.5 ’ 6.1 16
@ @ Iizuka City (  13) ’ 3.9 ’ 3.1 10 ’ 7.8 ’ 7.0 7
@ @ Kasuga City (  11) ’ 5.7 ’ 2.7 14 ’ 7.4 ’ 3.6 2
@ Saga Saga City (  20) ’ 3.0 ’ 2.6 26 ’ 6.2 ’ 4.7 13
@ @ Karatsu City (  13) ’ 2.3 ’ 1.8 11 ’ 5.0 ’ 3.9 7
@ Nagasaki Nagasaki Cigy (  46) ’ 6.8 ’ 4.7 75 ’ 7.4 ’ 5.0 23
@ @ Sasebo City (  26) ’ 5.0 ’ 4.6 40 ’ 6.9 ’ 4.9 16
@ @ Isehara City (  14) ’ 6.4 ’ 5.8 16 ’ 8.3 ’ 6.2 5
@ Kumamoto Kumamoto City (  66) ’ 6.5 ’ 4.6 109 ’ 6.5 ’ 3.5 32
@ @ Yatsushiro City (  14) ’ 5.1 ’ 4.9 9 ’ 9.4 ’ 9.1 5
@ Oota Oita City (  46) ’ 4.7 ’ 4.6 96 ’ 5.7 ’ 4.1 28
@ @ Beppu City (  12) ’ 6.7 ’ 6.1 31 ’ 5.7 ’ 4.4 18
@ Miyazaki Miyazaki City (  37) ’ 1.9 ’ 1.2 64 ’ 6.2 ’ 3.1 16
@ @ Miyakonojo City (  17) ’ 1.1 ’ 1.1 16 ’ 2.7 ’ 2.1 7
@ @ Nobeoka City (  13) ’ 0.9 ’ 0.6 24 ’ 3.4 ’ 2.5 10
@ Kagoshima Kagoshima City (  60) ’ 1.4 ’ 1.1 82 ’ 2.1 ’ 0.1 28
@ @ Kanoya City (  11) ’ 2.7 ’ 3.7 9 ’ 5.0 ’ 5.2 5
@ @ Satsumasendai City (  10) ’ 2.6 ’ 2.1 8 ’ 3.9 ’ 3.9 6
@ @ Kirishima City (  13) ’ 2.4 ’ 1.9 13 ’ 4.2 ’ 3.4 9
@ Okinawa Naha City (  31) ’ 3.8 ’ 1.8 34 ’ 2.7 ’ 0.1 19
@ @ Urasoe City (  11) ’ 3.2 ’ 2.0 13 ’ 2.4 ’ 1.0 4
@ @ Okinawa City (  13) ’ 3.8 ’ 2.4 8 ’ 5.8 ’ 3.3 5
@ @ Uruma City (  12) ’ 3.4 ’ 2.3 10 ’ 5.6 ’ 4.5 5
(Note)  Price changes in 2006 represent those for pre-merger municipalities.


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