MLIT Land White Paper 2013

On June 11, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released the data from their 2013 White Paper on Land.

According to the report, land prices continue to fall across Japan although the rate of decline is shrinking. A greater number of survey locations saw an increase or stabilisation of land prices.

Land Price Movements:

RESIDENTIAL20092010201120122013
Nationwide-3.2%-4.2%-2.7%-2.3%-1.6%
3 Major Cities-3.5%-4.5%-1.8%-1.3%-0.6%
– Greater Tokyo-4.4%-4.9%-1.7%-1.6%-0.7%
– Greater Osaka-2.0%-4.8%-2.4%-1.3%-0.9%
– Greater Nagoya-2.8%-2.5%-0.6%-0.4%0.0%
Regional-2.8%-3.8%-3.6%-3.3%-2.5%

 

COMMERCIAL20092010201120122013
Nationwide-4.7%-6.1%-3.8%-3.1%-2.1%
3 Major Cities-5.4%-7.1%-2.5%-1.6%-0.5%
– Greater Tokyo-6.1%-7.3%-2.5%-1.9%-0.5%
– Greater Osaka-3.3%-7.4%-3.6%-1.7%-0.5%
– Greater Nagoya-5.9%-6.1%-1.2%-0.8%-0.3%
Regional-4.2%-5.3%-4.8%-4.3%-3.3%

Land price movements in tsunami affected regions:

RESIDENTIAL201120122013COMMERCIAL201120122013
Iwate-4.9%-4.8%-2.7%-7.6%-7.0%-4.8%
Miyagi-2.9%-0.7%+1.4%-6.5%-3.9%0.0%
Fukushima-3.4%-6.2%-1.6%-4.3%-7.2%-3.2%

Transactions

A total of 1,204,000 land transactions were made nationwide in 2012, up 6% from 2011. Land transactions in Tokyo in the fourth quarter of 2012 were up 20% from the same period in 2011.

Land Statistics:

The total land area of Japan is 37,790,000 hectares, or approximately 377,900 square kilometres. Of that, 2,506 hectares (66%) is forest, and 12% is farmland. Only 5% of land in Japan is zoned for residential use.

Approximately 60% of residential land with a total value of 530 trillion Yen is owned by people over 60 years of age.

Note: The 2013 white paper relates to land data collected in 2012.

Source: MLIT