Japan real estate and land price rankings

Data last updated: November 2026 (Land Price Publication 2026, Prefectural Survey 2026, transactions through Q2 2026)

Prefectures

Average residential land price by prefecture

1	Tokyo	¥547K/m²
2	Kanagawa	¥218K/m²
3	Osaka	¥168K/m²

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Average commercial land price by prefecture

1	Tokyo	¥3.22M/m²
2	Osaka	¥1.36M/m²
3	Kyoto	¥1.03M/m²

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Land price growth by prefecture

1	Tokyo	+8.1%
2	Okinawa	+6.1%
3	Chiba	+4.2%

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5-year land price growth by prefecture

1	Tokyo	+27.3%
2	Okinawa	+27.2%
3	Fukuoka	+22.4%

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Real Estate Zukan Index by prefecture

1	Tokyo	100/100
2	Kanagawa	94/100
3	Osaka	92/100

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Total real estate value by prefecture

1	Tokyo	¥333.3 trillion
2	Kanagawa	¥121.1 trillion
3	Osaka	¥105.1 trillion

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Tokyo 23 wards

Residential land prices in Tokyo's 23 wards

1	Chiyoda Ward Tokyo	¥3.88M/m²
2	Minato Ward Tokyo	¥3.03M/m²
3	Chuo Ward Tokyo	¥1.91M/m²

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Commercial land prices in Tokyo's 23 wards

1	Chuo Ward Tokyo	¥10.3M/m²
2	Shibuya Ward Tokyo	¥8.88M/m²
3	Minato Ward Tokyo	¥7.30M/m²

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Land price growth in Tokyo's 23 wards

1	Taito Ward Tokyo	+18.5%
2	Bunkyo Ward Tokyo	+15.7%
3	Minato Ward Tokyo	+14.6%

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Pre-owned condo prices per m² in Tokyo's 23 wards

1	Minato Ward Tokyo	¥2.00M/m²
2	Chiyoda Ward Tokyo	¥1.83M/m²
3	Chuo Ward Tokyo	¥1.83M/m²

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Cities

Cities with the largest total real estate value

1	Tokyo 23 wards Tokyo	¥274.2 trillion
2	Yokohama City Kanagawa	¥52.4 trillion
3	Osaka City Osaka	¥46.2 trillion

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Cities with the highest residential land prices

1	Chiyoda Ward Tokyo	¥3.88M/m²
2	Minato Ward Tokyo	¥3.03M/m²
3	Chuo Ward Tokyo	¥1.91M/m²

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Cities with the highest commercial land prices

1	Chuo Ward Tokyo	¥10.3M/m²
2	Shibuya Ward Tokyo	¥8.88M/m²
3	Minato Ward Tokyo	¥7.30M/m²

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Where land prices are rising fastest in Japan

1	Hakuba Village Nagano	+27.4%
2	Nozawaonsen Village Nagano	+23.1%
3	Taito Ward Tokyo	+18.5%

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Where land prices are falling in Japan

1	Suzu City Ishikawa	−5.0%
2	Shikama Town Miyagi	−4.9%
3	Wajima City Ishikawa	−4.9%

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Biggest 5-year land price gains in Japan

1	Chitose City Hokkaido	+103.3%
2	Hakuba Village Nagano	+89.3%
3	Eniwa City Hokkaido	+84.2%

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Cities with the most expensive pre-owned condos per m²

1	Minato Ward Tokyo	¥2.00M/m²
2	Chiyoda Ward Tokyo	¥1.83M/m²
3	Chuo Ward Tokyo	¥1.83M/m²

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Cities with the most expensive pre-owned houses

1	Chiyoda Ward Tokyo	¥595.0M
2	Minato Ward Tokyo	¥575.0M
3	Chuo Ward Tokyo	¥410.0M

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Where land prices are forecast to rise most

1	Chitose City Hokkaido	+6.0%
2	Eniwa City Hokkaido	+6.0%
3	Kitahiroshima City Hokkaido	+6.0%

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Real Estate Zukan Index by city

1	Chuo Ward Tokyo	99/100
2	Minato Ward Tokyo	99/100
3	Shinjuku Ward Tokyo	99/100

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Undervalued areas: strong growth, lower prices

1	Kimobetsu Town Hokkaido	90/100
2	Kyogoku Town Hokkaido	89/100
3	Higashi Village Okinawa	87/100

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