On January 17, the Japanese Ministry of Land, Infrastructure, Transport and Tourism announced the publicly announced land prices as of January 1, 2026. The nationwide average for all uses rose by 2.8% year-on-year, continuing a five-year upward trend and recording the highest growth rate since 1991 when it reached 11.3% at the peak of the bubble economy. This increase is not limited to urban areas but has spread to regional areas as well, indicating a sustained upward trend in land prices across the country.

Approximately 25,500 locations were surveyed nationwide. Of these, 68.3% experienced an increase in land prices, 12.3% remained stable, and 19.4% saw declines. The average increase for residential properties remained steady at 2.1% year-on-year, while commercial land rose by 4.3% compared to 3.9% the previous year, and industrial land increased by 4.9%, slightly up from 4.8%. Robust demand for housing continues, particularly in the three major metropolitan areas of Tokyo, Osaka, and Nagoya, where residential land prices rose by 3.5%, an increase from 3.3% last year. Notably, the Tokyo area recorded a 4.5% rise, up from 4.2%.

The demand for condominiums remains strong in central urban areas such as Minato Ward in Tokyo and Kita Ward in Osaka, driving significant price increases. This trend is also observed in nearby regions, like Nagareyama City in Chiba Prefecture, known for its good child-rearing environment and easy access to urban centers, where the average price increase was 13.3%. Conversely, in regions like the Nagoya area, the growth rate was lower, indicating disparities in the real estate market across different regions of Japan.