Japan’s Standard Land Prices were announced on September 19, and as the pandemic winds down and dwellers and tourists return to central hubs, the major urban centers saw the steepest increase.

Nationwide, land prices across all uses increased by 1.0%, following a 0.3% increase in 2022. Regional areas saw the first increase across all uses for the first time in 31 years; however, this may have been driven by growth in cities such as Sapporo, Sendai, Hiroshima, and Fukuoka. Residential land outside of those cities continued to decline, while commercial land increased for the first time in 32 years.

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