With the recent announcement of the 2012 kouji-chika land prices by the MLIT, it became apparent that the decline in land values across Tokyo is beginning to slow down. The average fall in land values across greater Tokyo in 2012 was 1.3%, which is an improvement of 0.7 points from 2011.

The price of land is a leading indicator of secondhand apartment prices, and apartment prices are already showing signs of positive growth. Research by Tokyo Kantei found that the price of secondhand apartments located in the areas around a third of Tokyo's train stations had risen in the last quarter of 2011.

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