Chuo Ginza area
Tokyo's Ginza district dominated the land value rankings in 2016

For the first time in 8 years, commercial land prices in Japan saw an increase from the previous year. According to the 2016 ‘chika-koji’ assessed land values released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the nationwide commercial land price increased by 0.9% from 2015.

In the Tokyo metropolitan area, commercial land values increased by 4.1% in 2016, up from a 2.9% increase in 2015.

The increase can be attributed to improving office conditions in city centres, and a surge in construction of hotels to meet the growing number of foreign tourists. 

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