Nationwide unwanted land donation scheme now in effect
On April 27, the Ministry of Justice enacted a nationwide unwanted land donation system in order to reduce the burden of rural, idle land on heirs. However, there are some strings attached that may limit how effective this system will be at reducing the number of vacant ‘akiya’ properties across Japan.Read more
Nationwide land values increase for 2nd year in a row
The nationwide Assessed Land Values (koji-chika), as issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) saw a year-on-year increase in 2023. This is the second year in a row to see an increase. The growth is apparent not only in urban centers, but is also spreading to regional areas as the country emerges from the pandemic.Read more
Land prices increase in over 80% of locations
According to the latest quarterly LOOK Report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), land prices at 81.3% of the surveyed locations saw an increase in the third quarter of 2022. This is the highest share seen since the fourth quarter of 2019.
Land use restriction law goes into effect but lacks power to impede land purchases
A new law went into effect in September that gives the national government the power to look up the names, addresses and nationalities of landowners near sensitive locations, such as military bases and remote islands. But, this law does not give the government any power to restrict or ban purchases or ownership of land by foreign entities.
Residential land prices increase for first time in 31 years
Japan’s Standard Land Price for residential land has increased for the first time in 31 years, according to the data released by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) yesterday.
Land use restriction act to go into effect this September
On July 14, the government announced the basic proposal for a law aimed at restricting acquisitions of land in and near facilities of importance to national security.
Land prices continue to rise in first quarter of 2022
According to the latest quarterly LOOK Report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), land prices at 57% of the surveyed locations saw an increase in the first quarter of 2022. This is a vast improvement from a 28% share seen in the same quarter in 2021 and a 1% share seen in the second quarter of 2020 when the effects of the pandemic began to be known.
Aoshima is Kyushu's latest real estate hotspot
The small beachside area of Aoshima, in the southern end of Miyazaki City, is experiencing what local reporters are calling a real estate bubble.
Land prices continue to recover in 2021
Land prices are on the rise again, according to the latest quarterly LOOK Report published by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). In the fourth quarter of 2021, a total of 55 of the 100 surveyed locations saw land prices increase. This is up from just 15 locations in the fourth quarter of 2020.
Buying property in an Urbanization Control Area
If you are looking at purchasing property in the outskirts of cities, you may come across land that is in an Urbanization Control Area. This land comes with a very different set of building limitations than other classifications. Here’s why you need to pay careful attention to this difference.