Benchmark land values in Tokyo's 23 wards kept climbing in 2026. In the 1 July survey the average commercial point in the 23 wards rose +13.3%; the fastest risers were around Asakusa and in Nakano, and five-year gains of 40–60% are common in the central wards. Residential land rose +8.7%. Ginza still holds the most expensive plots in Japan.
What these numbers are. Japan's official land prices are appraised benchmark values, not transaction prices: licensed appraisers value a fixed set of sample plots each year, per square metre of land, as if the plot were vacant. Two surveys: the Official Land Price (地価公示, chika kōji) values plots as of 1 January and is published in March; the Prefectural Land Price Survey (基準地価, kijun chika) values plots as of 1 July and is published in September. They are not the price of a condo (no building, no share of a site), and actual sales, especially of central commercial land and popular ski-resort plots, often happen well above them. Every median below shows its point count (n); where n is small, one plot can move the figure.
Land prices by ward
Median benchmark value per ㎡ of land in each ward in the 1 July 2026 survey (基準地価), with the average one-year change and the median five-year change. n is the number of sample points behind each figure. Sorted by commercial median.
| Ward | Residential | Commercial | Highest point | Points | ||||
|---|---|---|---|---|---|---|---|---|
| Median ¥/㎡ | 1 yr | 5 yr | Median ¥/㎡ | 1 yr | 5 yr | |||
| Shibuya 渋谷区 | ¥1,620,000 US$10,280/㎡ · n=10 | +11.6% n=10 | +45.5% n=10 | ¥8,475,000 US$53,779/㎡ · n=18 | +12.8% n=18 | +56.9% n=18 | ¥21m 道玄坂二丁目213番 · Shibuya | 28 |
| Minato 港区 | ¥2,550,000 US$16,181/㎡ · n=10 | +16.3% n=10 | +54.2% n=9 | ¥6,320,000 US$40,104/㎡ · n=27 | +13.9% n=27 | +57.0% n=24 | ¥32.6m 北青山三丁目33番2 · Omotesando | 38 |
| Chiyoda 千代田区 | ¥4,070,000 US$25,826/㎡ · n=4 | +11.3% n=4 | +44.5% n=4 | ¥4,940,000 US$31,347/㎡ · n=28 | +11.9% n=27 | +51.4% n=27 | ¥28.2m 丸の内三丁目2番外 · Tokyo | 32 |
| Chuo 中央区 | ¥1,815,000 US$11,517/㎡ · n=4 | +10.5% n=4 | +53.5% n=4 | ¥4,100,000 US$26,017/㎡ · n=27 | +13.6% n=27 | +57.0% n=26 | ¥52.5m 銀座二丁目2番19外 · Ginza-itchome | 31 |
| Shinjuku 新宿区 | ¥1,050,000 US$6,663/㎡ · n=12 | +13.5% n=12 | +49.3% n=12 | ¥3,800,000 US$24,113/㎡ · n=29 | +14.9% n=29 | +58.3% n=29 | ¥23.7m 西新宿一丁目18番2 · Shinjuku | 41 |
| Bunkyo 文京区 | ¥1,440,000 US$9,138/㎡ · n=7 | +13.8% n=7 | +49.1% n=7 | ¥2,350,000 US$14,912/㎡ · n=11 | +16.6% n=11 | +65.9% n=11 | ¥4.7m 小石川一丁目2番5外 · Kasuga | 18 |
| Toshima 豊島区 | ¥950,000 US$6,028/㎡ · n=9 | +12.9% n=9 | +51.5% n=9 | ¥2,010,000 US$12,755/㎡ · n=13 | +13.9% n=13 | +53.9% n=13 | ¥14.3m 東池袋一丁目22番11 · Ikebukuro | 22 |
| Taito 台東区 | ¥870,000 US$5,521/㎡ · n=3 | +15.6% n=3 | +49.0% n=2 | ¥1,995,000 US$12,659/㎡ · n=24 | +19.6% n=24 | +71.2% n=23 | ¥13.8m 上野六丁目109番1 · Ueno | 27 |
| Meguro 目黒区 | ¥1,230,000 US$7,805/㎡ · n=9 | +13.3% n=9 | +52.1% n=9 | ¥1,890,000 US$11,993/㎡ · n=7 | +14.2% n=7 | +52.0% n=7 | ¥6.3m 上目黒三丁目1860番6外 · Naka-Meguro | 16 |
| Shinagawa 品川区 | ¥1,040,000 US$6,599/㎡ · n=11 | +11.0% n=11 | +44.8% n=10 | ¥1,385,000 US$8,789/㎡ · n=12 | +11.2% n=12 | +48.4% n=11 | ¥5.8m 上大崎二丁目561番1 · Meguro | 23 |
| Nakano 中野区 | ¥741,000 US$4,702/㎡ · n=11 | +9.8% n=11 | +37.3% n=10 | ¥1,370,000 US$8,693/㎡ · n=11 | +15.0% n=11 | +55.7% n=10 | ¥8.1m 中野五丁目30番7 · Nakano | 22 |
| Suginami 杉並区 | ¥799,000 US$5,070/㎡ · n=25 | +8.1% n=25 | +34.9% n=23 | ¥1,300,000 US$8,249/㎡ · n=15 | +16.3% n=15 | +67.6% n=14 | ¥4.1m 高円寺北二丁目6番6外 · Koenji | 40 |
| Arakawa 荒川区 | ¥766,000 US$4,861/㎡ · n=6 | +12.5% n=6 | +44.5% n=6 | ¥1,225,000 US$7,773/㎡ · n=8 | +16.9% n=8 | +65.9% n=8 | ¥2.8m 西日暮里二丁目413番10 · Nippori | 14 |
| Kita 北区 | ¥722,500 US$4,585/㎡ · n=12 | +12.2% n=11 | +42.9% n=10 | ¥1,220,000 US$7,742/㎡ · n=10 | +16.9% n=10 | +69.7% n=10 | ¥4.3m 王子一丁目10番8 · Oji | 23 |
| Itabashi 板橋区 | ¥568,000 US$3,604/㎡ · n=19 | +8.6% n=19 | +34.4% n=18 | ¥1,120,000 US$7,107/㎡ · n=13 | +13.5% n=13 | +37.5% n=12 | ¥1.6m 板橋一丁目13番6外 · Itabashi | 32 |
| Setagaya 世田谷区 | ¥815,000 US$5,172/㎡ · n=45 | +6.2% n=44 | +24.8% n=43 | ¥1,085,000 US$6,885/㎡ · n=16 | +8.6% n=16 | +32.2% n=16 | ¥3.6m 玉川二丁目1516番1 · Futako-Tamagawa | 61 |
| Koto 江東区 | ¥652,500 US$4,140/㎡ · n=14 | +12.1% n=14 | +43.2% n=13 | ¥1,030,000 US$6,536/㎡ · n=11 | +15.2% n=11 | +55.4% n=11 | ¥3.3m 門前仲町二丁目1番2外 · Monzen-nakacho | 28 |
| Ota 大田区 | ¥588,000 US$3,731/㎡ · n=25 | +7.3% n=25 | +31.8% n=24 | ¥960,000 US$6,092/㎡ · n=17 | +11.3% n=17 | +39.2% n=17 | ¥2.5m 蒲田四丁目22番10 · Kamata | 45 |
| Sumida 墨田区 | ¥606,000 US$3,845/㎡ · n=5 | +12.6% n=5 | +50.5% n=4 | ¥945,000 US$5,997/㎡ · n=14 | +13.8% n=14 | +49.3% n=13 | ¥2m 江東橋一丁目5番7 · Kinshicho | 19 |
| Nerima 練馬区 | ¥477,000 US$3,027/㎡ · n=37 | +5.9% n=37 | +22.0% n=35 | ¥880,000 US$5,584/㎡ · n=12 | +9.0% n=12 | +32.8% n=11 | ¥2m 豊玉北六丁目1番13 · Nerima | 49 |
| Katsushika 葛飾区 | ¥380,000 US$2,411/㎡ · n=21 | +5.8% n=19 | +22.1% n=19 | ¥810,000 US$5,140/㎡ · n=8 | +12.8% n=8 | +41.5% n=6 | ¥1.4m 亀有五丁目131番2 · Kameari | 30 |
| Edogawa 江戸川区 | ¥407,500 US$2,586/㎡ · n=28 | +6.2% n=28 | +22.7% n=27 | ¥808,500 US$5,130/㎡ · n=12 | +9.4% n=12 | +38.1% n=11 | ¥2.3m 西葛西六丁目15番28外 · Nishi-Kasai | 41 |
| Adachi 足立区 | ¥382,000 US$2,424/㎡ · n=27 | +5.4% n=27 | +23.9% n=25 | ¥530,000 US$3,363/㎡ · n=23 | +7.2% n=22 | +24.6% n=20 | ¥2.6m 千住三丁目70番2 · Kita-Senju | 52 |
Same table for the 1 January 2026 Official Land Price (公示地価, more points)
| Ward | Residential | Commercial | Highest point | Points | ||||
|---|---|---|---|---|---|---|---|---|
| Median ¥/㎡ | 1 yr | 5 yr | Median ¥/㎡ | 1 yr | 5 yr | |||
| Shibuya 渋谷区 | ¥1,770,000 US$11,232/㎡ · n=25 | +11.0% n=25 | +38.9% n=23 | ¥5,250,000 US$33,314/㎡ · n=33 | +13.8% n=32 | +41.8% n=31 | ¥35.3m 宇田川町77番14外 · Shibuya | 58 |
| Minato 港区 | ¥2,750,000 US$17,450/㎡ · n=30 | +16.6% n=30 | +47.3% n=29 | ¥5,980,000 US$37,947/㎡ · n=51 | +14.0% n=49 | +43.2% n=43 | ¥15.2m 南青山3丁目385番外 · Omotesando | 81 |
| Chiyoda 千代田区 | ¥4,070,000 US$25,826/㎡ · n=7 | +10.7% n=7 | +38.5% n=6 | ¥4,475,000 US$28,396/㎡ · n=52 | +13.1% n=51 | +38.2% n=51 | ¥37.6m 丸の内2丁目2番1外 · Tokyo | 59 |
| Chuo 中央区 | ¥1,910,000 US$12,120/㎡ · n=9 | +13.8% n=7 | +50.6% n=7 | ¥4,535,000 US$28,777/㎡ · n=54 | +13.5% n=53 | +34.2% n=48 | ¥67.1m 銀座4丁目2番4 · Ginza | 63 |
| Shinjuku 新宿区 | ¥1,080,000 US$6,853/㎡ · n=28 | +11.2% n=26 | +39.8% n=25 | ¥2,900,000 US$18,402/㎡ · n=49 | +13.8% n=49 | +48.1% n=49 | ¥42m 新宿3丁目807番1外 · Shinjuku | 77 |
| Bunkyo 文京区 | ¥1,370,000 US$8,693/㎡ · n=23 | +13.8% n=22 | +44.5% n=18 | ¥2,140,000 US$13,580/㎡ · n=27 | +17.8% n=27 | +52.9% n=26 | ¥5.2m 湯島3丁目420番1外 · Ueno-hirokoji | 50 |
| Toshima 豊島区 | ¥828,000 US$5,254/㎡ · n=23 | +12.9% n=22 | +43.7% n=21 | ¥1,730,000 US$10,978/㎡ · n=31 | +15.2% n=31 | +48.6% n=31 | ¥18.8m 東池袋1丁目1番15外 · Ikebukuro | 54 |
| Taito 台東区 | ¥1,130,000 US$7,171/㎡ · n=6 | +14.2% n=6 | +39.2% n=6 | ¥1,700,000 US$10,787/㎡ · n=47 | +19.1% n=46 | +53.2% n=43 | ¥13.6m 上野4丁目38番5外 · Ueno-hirokoji | 53 |
| Meguro 目黒区 | ¥1,240,000 US$7,869/㎡ · n=32 | +13.7% n=32 | +45.0% n=30 | ¥1,800,000 US$11,422/㎡ · n=17 | +13.7% n=16 | +42.8% n=15 | ¥7.2m 自由が丘2丁目23番2外 · Jiyugaoka | 49 |
| Shinagawa 品川区 | ¥1,070,000 US$6,790/㎡ · n=30 | +13.9% n=29 | +42.5% n=28 | ¥2,010,000 US$12,755/㎡ · n=28 | +16.3% n=28 | +48.7% n=28 | ¥7.9m 西五反田1丁目2番3外 · Gotanda | 59 |
| Nakano 中野区 | ¥764,000 US$4,848/㎡ · n=27 | +9.0% n=26 | +31.9% n=25 | ¥1,600,000 US$10,153/㎡ · n=24 | +17.5% n=24 | +62.0% n=23 | ¥8.3m 中野3丁目107番10外 · Nakano | 51 |
| Suginami 杉並区 | ¥694,000 US$4,404/㎡ · n=62 | +8.2% n=60 | +29.3% n=57 | ¥1,150,000 US$7,297/㎡ · n=24 | +17.5% n=24 | +54.7% n=22 | ¥5m 上荻1丁目7番4外 · Ogikubo | 86 |
| Arakawa 荒川区 | ¥632,500 US$4,014/㎡ · n=16 | +11.8% n=15 | +33.5% n=14 | ¥1,210,000 US$7,678/㎡ · n=12 | +16.2% n=12 | +56.2% n=12 | ¥3.1m 東日暮里5丁目51番12 · Nippori | 28 |
| Kita 北区 | ¥632,000 US$4,010/㎡ · n=31 | +11.6% n=30 | +36.1% n=29 | ¥1,090,000 US$6,917/㎡ · n=23 | +16.2% n=21 | +50.4% n=20 | ¥5.7m 赤羽1丁目8番10 · Akabane | 54 |
| Itabashi 板橋区 | ¥538,000 US$3,414/㎡ · n=47 | +8.5% n=46 | +28.0% n=45 | ¥895,000 US$5,679/㎡ · n=19 | +12.6% n=19 | +36.0% n=18 | ¥2.1m 大山町31番1 · Oyama | 69 |
| Setagaya 世田谷区 | ¥792,000 US$5,026/㎡ · n=109 | +7.0% n=106 | +21.6% n=102 | ¥1,010,000 US$6,409/㎡ · n=32 | +9.4% n=32 | +29.3% n=31 | ¥3.8m 太子堂2丁目428番16外 · Sangenjaya | 141 |
| Koto 江東区 | ¥636,500 US$4,039/㎡ · n=26 | +11.9% n=25 | +33.4% n=25 | ¥1,120,000 US$7,107/㎡ · n=17 | +15.6% n=17 | +46.7% n=16 | ¥3m 豊洲3丁目1番54 · Toyosu | 47 |
| Ota 大田区 | ¥615,000 US$3,903/㎡ · n=55 | +7.9% n=54 | +27.6% n=54 | ¥835,500 US$5,302/㎡ · n=36 | +9.7% n=34 | +29.3% n=33 | ¥5.7m 西蒲田7丁目66番2 · Kamata | 96 |
| Sumida 墨田区 | ¥671,000 US$4,258/㎡ · n=11 | +13.2% n=11 | +40.3% n=11 | ¥965,000 US$6,123/㎡ · n=13 | +15.0% n=13 | +41.7% n=13 | ¥3.2m 江東橋3丁目7番7外 · Kinshicho | 24 |
| Nerima 練馬区 | ¥479,500 US$3,043/㎡ · n=90 | +6.2% n=88 | +21.1% n=85 | ¥962,500 US$6,108/㎡ · n=18 | +8.9% n=18 | +27.9% n=14 | ¥1.9m 豊玉北6丁目1番13 · Nerima | 108 |
| Katsushika 葛飾区 | ¥391,500 US$2,484/㎡ · n=44 | +5.6% n=43 | +19.7% n=43 | ¥521,000 US$3,306/㎡ · n=19 | +11.1% n=19 | +35.0% n=16 | ¥2m 新小岩1丁目1355番3 · Shin-Koiwa | 63 |
| Edogawa 江戸川区 | ¥444,000 US$2,817/㎡ · n=69 | +5.7% n=67 | +21.6% n=67 | ¥616,000 US$3,909/㎡ · n=16 | +8.7% n=16 | +32.3% n=15 | ¥2.2m 西葛西6丁目15番28外 · Nishi-Kasai | 89 |
| Adachi 足立区 | ¥347,000 US$2,202/㎡ · n=71 | +6.3% n=69 | +21.8% n=67 | ¥538,500 US$3,417/㎡ · n=32 | +8.5% n=31 | +23.0% n=30 | ¥6.2m 千住2丁目57番3外 · Kita-Senju | 108 |
Twenty years of land prices
Tokyo 23 wards: median official land price, 2006–2026
Table view
| Year | Commercial (¥/㎡) | Residential (¥/㎡) |
|---|---|---|
| 2006 | ¥790,500 | ¥383,000 |
| 2007 | ¥903,000 | ¥416,000 |
| 2008 | ¥1,065,000 | ¥461,000 |
| 2009 | ¥981,000 | ¥421,000 |
| 2010 | ¥889,500 | ¥395,000 |
| 2011 | ¥862,500 | ¥391,000 |
| 2012 | ¥843,000 | ¥390,000 |
| 2013 | ¥837,000 | ¥389,000 |
| 2014 | ¥855,000 | ¥395,000 |
| 2015 | ¥885,500 | ¥400,000 |
| 2016 | ¥924,000 | ¥410,000 |
| 2017 | ¥967,000 | ¥423,000 |
| 2018 | ¥1,035,000 | ¥439,000 |
| 2019 | ¥1,140,000 | ¥459,000 |
| 2020 | ¥1,280,000 | ¥479,000 |
| 2021 | ¥1,240,000 | ¥476,000 |
| 2022 | ¥1,245,000 | ¥482,000 |
| 2023 | ¥1,290,000 | ¥497,000 |
| 2024 | ¥1,405,000 | ¥526,000 |
| 2025 | ¥1,630,000 | ¥563,000 |
| 2026 | ¥1,915,000 | ¥606,000 |
On the same 462 commercial points, the median went from ¥790,500 in 2006 to ¥1,915,000 in 2026 (+142.3%); it bottomed at ¥837,000 in 2013 after the 2008 crisis. The 417 residential points went from ¥383,000 to ¥606,000 (+58.2%).
Land prices by station
Sample points grouped by their nearest station (the survey's own field; names normalised across the two surveys), for stations with at least 3 points in the 1 January 2026 Official Land Price. 252 stations qualify. All uses together, so a station with mostly commercial points ranks high.
Most expensive stations (top 30)
| # | Station | 公示 1 Jan 2026 median ¥/㎡ | 1 yr | 基準 1 Jul 2026 median ¥/㎡ | 1 yr |
|---|---|---|---|---|---|
| 1 | Ginza 銀座 Chuo | ¥35,600,000 US$225,903/㎡ · n=7 | +11.1% n=7 | ¥10,100,000 US$64,090/㎡ · n=3 | +12.1% n=3 |
| 2 | Otemachi 大手町 Chiyoda | ¥27,800,000 US$176,407/㎡ · n=3 | +8.2% n=2 | ¥26,900,000 US$170,696/㎡ · n=1 | +3.5% n=1 |
| 3 | Tokyo 東京 Chuo, Chiyoda | ¥26,000,000 US$164,985/㎡ · n=4 | +2.3% n=4 | ¥28,200,000 US$178,945/㎡ · n=1 | +3.3% n=1 |
| 4 | Uchisaiwaicho 内幸町 Minato, Chiyoda | ¥12,650,000 US$80,272/㎡ · n=4 | +6.7% n=4 | ¥15,400,000 US$97,722/㎡ · n=1 | +5.5% n=1 |
| 5 | Nihombashi 日本橋 Chuo | ¥10,145,000 US$64,376/㎡ · n=4 | +7.3% n=4 | ¥12,900,000 US$81,858/㎡ · n=1 | +14.2% n=1 |
| 6 | Shinjuku 新宿 Shinjuku, Shibuya | ¥9,880,000 US$62,694/㎡ · n=11 | +8.8% n=11 | ¥11,500,000 US$72,974/㎡ · n=7 | +10.1% n=7 |
| 7 | Shimbashi 新橋 Minato, Chuo | ¥9,190,000 US$58,316/㎡ · n=6 | +11.8% n=6 | ¥7,540,000 US$47,846/㎡ · n=1 | +16.9% n=1 |
| 8 | Akasaka-mitsuke 赤坂見附 Minato, Chiyoda | ¥8,030,000 US$50,955/㎡ · n=4 | +14.2% n=4 | — | — |
| 9 | Shibuya 渋谷 Shibuya | ¥7,750,000 US$49,178/㎡ · n=17 | +13.3% n=16 | ¥9,850,000 US$62,504/㎡ · n=8 | +11.0% n=8 |
| 10 | Shinagawa 品川 Minato | ¥7,610,000 US$48,290/㎡ · n=5 | +15.4% n=5 | ¥3,540,000 US$22,463/㎡ · n=2 | +14.3% n=2 |
| 11 | Tameike-sanno 溜池山王 Minato | ¥7,110,000 US$45,117/㎡ · n=3 | +14.1% n=3 | ¥9,060,000 US$57,491/㎡ · n=3 | +10.6% n=3 |
| 12 | Tamachi 田町 Minato | ¥6,100,000 US$38,708/㎡ · n=3 | +18.9% n=3 | ¥2,600,000 US$16,498/㎡ · n=1 | +18.7% n=1 |
| 13 | Shinjuku-sanchome 新宿三丁目 Shinjuku | ¥5,950,000 US$37,756/㎡ · n=6 | +13.1% n=6 | ¥15,200,000 US$96,453/㎡ · n=3 | +12.9% n=3 |
| 14 | Shin-Nihombashi 新日本橋 Chuo | ¥5,855,000 US$37,153/㎡ · n=4 | +12.6% n=4 | ¥7,630,000 US$48,417/㎡ · n=1 | +10.6% n=1 |
| 15 | Kojimachi 麹町 Chiyoda | ¥5,640,000 US$35,789/㎡ · n=3 | +11.1% n=3 | ¥5,775,000 US$36,646/㎡ · n=2 | +10.1% n=2 |
| 16 | Gaiemmae 外苑前 Minato, Shibuya | ¥5,310,000 US$33,695/㎡ · n=4 | +13.5% n=4 | ¥3,920,000 US$24,875/㎡ · n=1 | +15.0% n=1 |
| 17 | Ueno-hirokoji 上野広小路 Taito, Bunkyo | ¥5,250,000 US$33,314/㎡ · n=3 | +14.7% n=3 | — | — |
| 18 | Akihabara 秋葉原 Chiyoda, Taito | ¥4,810,000 US$30,522/㎡ · n=4 | +14.6% n=4 | ¥5,030,000 US$31,918/㎡ · n=5 | +12.6% n=5 |
| 19 | Daimon 大門 Minato | ¥4,790,000 US$30,395/㎡ · n=3 | +17.2% n=3 | ¥3,950,000 US$25,065/㎡ · n=1 | +19.0% n=1 |
| 20 | Hatchobori 八丁堀 Chuo | ¥4,760,000 US$30,205/㎡ · n=3 | +15.2% n=3 | ¥2,715,000 US$17,228/㎡ · n=2 | +15.6% n=2 |
| 21 | Akasaka 赤坂 Minato | ¥4,480,000 US$28,428/㎡ · n=3 | +15.9% n=3 | ¥7,100,000 US$45,054/㎡ · n=1 | +14.5% n=1 |
| 22 | Hanzomon 半蔵門 Chiyoda | ¥4,410,000 US$27,984/㎡ · n=5 | +13.2% n=5 | ¥4,530,000 US$28,745/㎡ · n=3 | +12.5% n=3 |
| 23 | Kanda 神田 Chiyoda | ¥4,330,000 US$27,476/㎡ · n=3 | +15.0% n=3 | ¥3,870,000 US$24,557/㎡ · n=5 | +13.1% n=5 |
| 24 | Azabu-Juban 麻布十番 Minato | ¥3,990,000 US$25,319/㎡ · n=5 | +17.1% n=5 | ¥3,520,000 US$22,336/㎡ · n=3 | +16.1% n=3 |
| 25 | Yoyogi 代々木 Shibuya | ¥3,700,000 US$23,479/㎡ · n=3 | +13.2% n=3 | ¥2,670,000 US$16,943/㎡ · n=1 | +13.1% n=1 |
| 26 | Omotesando 表参道 Shibuya, Minato | ¥3,660,000 US$23,225/㎡ · n=6 | +12.8% n=5 | ¥6,685,000 US$42,420/㎡ · n=4 | +11.2% n=4 |
| 27 | Kayabacho 茅場町 Chuo | ¥3,640,000 US$23,098/㎡ · n=5 | +17.1% n=5 | ¥5,720,000 US$36,297/㎡ · n=1 | +10.0% n=1 |
| 28 | Suidobashi 水道橋 Chiyoda, Bunkyo | ¥3,550,000 US$22,527/㎡ · n=7 | +17.0% n=7 | ¥5,700,000 US$36,170/㎡ · n=1 | +8.6% n=1 |
| 29 | Shintomicho 新富町 Chuo | ¥3,440,000 US$21,829/㎡ · n=3 | +18.9% n=3 | ¥3,700,000 US$23,479/㎡ · n=1 | +16.0% n=1 |
| 30 | Nagatacho 永田町 Chiyoda | ¥3,330,000 US$21,131/㎡ · n=4 | +11.8% n=4 | — | — |
Fastest-rising stations
By average one-year change of continuing points (at least 3), 1 January 2026.
| # | Station | 公示 1 Jan 2026 median ¥/㎡ | 1 yr | 基準 1 Jul 2026 median ¥/㎡ | 1 yr |
|---|---|---|---|---|---|
| 1 | Asakusa 浅草 Taito, Sumida | ¥1,610,000 US$10,216/㎡ · n=11 | +22.4% n=11 | ¥2,360,000 US$14,976/㎡ · n=6 | +24.0% n=6 |
| 2 | Iriya 入谷 Taito | ¥1,120,000 US$7,107/㎡ · n=4 | +20.0% n=4 | ¥1,550,000 US$9,836/㎡ · n=2 | +17.9% n=2 |
| 3 | Tamachi 田町 Minato | ¥6,100,000 US$38,708/㎡ · n=3 | +18.9% n=3 | ¥2,600,000 US$16,498/㎡ · n=1 | +18.7% n=1 |
| 4 | Shintomicho 新富町 Chuo | ¥3,440,000 US$21,829/㎡ · n=3 | +18.9% n=3 | ¥3,700,000 US$23,479/㎡ · n=1 | +16.0% n=1 |
| 5 | Asakusabashi 浅草橋 Taito, Chuo | ¥1,600,000 US$10,153/㎡ · n=5 | +18.9% n=5 | ¥1,670,000 US$10,597/㎡ · n=3 | +19.0% n=3 |
| 6 | Kuramae 蔵前 Taito | ¥1,450,000 US$9,201/㎡ · n=4 | +18.7% n=3 | — | — |
| 7 | Ningyocho 人形町 Chuo | ¥2,635,000 US$16,721/㎡ · n=4 | +18.2% n=4 | ¥3,060,000 US$19,417/㎡ · n=1 | +15.5% n=1 |
| 8 | Suehirocho 末広町 Chiyoda | ¥2,595,000 US$16,467/㎡ · n=4 | +18.1% n=4 | — | — |
| 9 | Ueno 上野 Taito | ¥2,675,000 US$16,974/㎡ · n=4 | +17.5% n=4 | ¥8,630,000 US$54,762/㎡ · n=2 | +13.8% n=2 |
| 10 | Toyosu 豊洲 Koto | ¥1,910,000 US$12,120/㎡ · n=3 | +17.5% n=3 | — | — |
| 11 | Suitengumae 水天宮前 Chuo, Koto | ¥1,900,000 US$12,057/㎡ · n=5 | +17.4% n=5 | ¥2,040,000 US$12,945/㎡ · n=2 | +16.5% n=2 |
| 12 | Hongo-sanchome 本郷三丁目 Bunkyo | ¥1,810,000 US$11,485/㎡ · n=6 | +17.4% n=6 | ¥2,610,000 US$16,562/㎡ · n=2 | +14.9% n=2 |
| 13 | Minowa 三ノ輪 Arakawa, Taito | ¥1,190,000 US$7,551/㎡ · n=5 | +17.3% n=5 | ¥870,000 US$5,521/㎡ · n=5 | +15.7% n=5 |
| 14 | Daimon 大門 Minato | ¥4,790,000 US$30,395/㎡ · n=3 | +17.2% n=3 | ¥3,950,000 US$25,065/㎡ · n=1 | +19.0% n=1 |
| 15 | Naka-Okachimachi 仲御徒町 Taito | ¥2,035,000 US$12,913/㎡ · n=4 | +17.2% n=4 | ¥3,240,000 US$20,560/㎡ · n=2 | +18.1% n=2 |
Top individual points
Most expensive points (公示地価, 1 January 2026)
| # | Location (point address) | Nearest station | Use | ¥/㎡ | 1 yr | 5 yr |
|---|---|---|---|---|---|---|
| 1 | Chuo 中央区 中央区銀座4丁目2番4 | Ginza 銀座 0 m | Commercial | ¥67,100,000 US$425,788/㎡ · US$39,557/ft² | +10.9% | +25.2% |
| 2 | Chuo 中央区 中央区銀座5丁目103番16 | Ginza 銀座 0 m | Commercial | ¥57,000,000 US$361,698/㎡ · US$33,603/ft² | +10.3% | +23.6% |
| 3 | Chuo 中央区 中央区銀座2丁目2番19外 | Ginza-itchome 銀座一丁目 0 m | Commercial | ¥49,600,000 US$314,741/㎡ · US$29,240/ft² | +11.7% | +24.3% |
| 4 | Chuo 中央区 中央区銀座7丁目1番2外 | Ginza 銀座 260 m | Commercial | ¥47,600,000 US$302,049/㎡ · US$28,061/ft² | +10.4% | +21.1% |
| 5 | Shinjuku 新宿区 新宿区新宿3丁目807番1外 | Shinjuku 新宿 0 m | Commercial | ¥42,000,000 US$266,514/㎡ · US$24,760/ft² | +5.0% | +15.1% |
| 6 | Shinjuku 新宿区 新宿区新宿3丁目30番13外 | Shinjuku-sanchome 新宿三丁目 0 m | Commercial | ¥41,500,000 US$263,341/㎡ · US$24,465/ft² | +7.5% | +19.9% |
| 7 | Chiyoda 千代田区 千代田区丸の内2丁目2番1外 | Tokyo 東京 0 m | Commercial | ¥37,600,000 US$238,594/㎡ · US$22,166/ft² | +1.3% | +1.1% |
| 8 | Chuo 中央区 中央区銀座4丁目103番1外 | Ginza 銀座 0 m | Commercial | ¥35,600,000 US$225,903/㎡ · US$20,987/ft² | +10.9% | +24.0% |
| 9 | Shibuya 渋谷区 渋谷区宇田川町77番14外 | Shibuya 渋谷 150 m | Commercial | ¥35,300,000 US$223,999/㎡ · US$20,810/ft² | +5.4% | +27.0% |
| 10 | Chuo 中央区 中央区銀座6丁目4番13外 | Ginza 銀座 150 m | Commercial | ¥35,000,000 US$222,095/㎡ · US$20,633/ft² | +13.6% | +19.5% |
Biggest one-year rises, commercial (基準地価, 1 July 2026)
| # | Location (point address) | Nearest station | Use | ¥/㎡ | 1 yr | 5 yr |
|---|---|---|---|---|---|---|
| 1 | Taito 台東区 台東区浅草一丁目17番9 | Asakusa 浅草 350 m | Commercial | ¥4,900,000 US$31,093/㎡ · US$2,889/ft² | +26.9% | +124.8% |
| 2 | Nakano 中野区 中野区中野五丁目21番7 | Nakano 中野 250 m | Commercial | ¥6,000,000 US$38,073/㎡ · US$3,537/ft² | +25.0% | — |
| 3 | Taito 台東区 台東区西浅草二丁目66番2 | Asakusa 浅草 160 m | Commercial | ¥3,600,000 US$22,844/㎡ · US$2,122/ft² | +25.0% | +127.8% |
| 4 | Taito 台東区 台東区浅草五丁目77番15 | Asakusa 浅草 960 m | Commercial | ¥1,060,000 US$6,726/㎡ · US$625/ft² | +24.1% | +81.8% |
| 5 | Shinjuku 新宿区 新宿区西早稲田二丁目660番4外 | Nishi-Waseda 西早稲田 80 m | Commercial | ¥3,220,000 US$20,433/㎡ · US$1,898/ft² | +23.8% | +89.4% |
| 6 | Taito 台東区 台東区駒形一丁目5番5 | Asakusa 浅草 190 m | Commercial | ¥2,370,000 US$15,039/㎡ · US$1,397/ft² | +23.4% | +76.9% |
| 7 | Taito 台東区 台東区浅草七丁目51番2 | Asakusa 浅草 740 m | Commercial | ¥1,290,000 US$8,186/㎡ · US$760/ft² | +22.9% | +76.0% |
| 8 | Taito 台東区 台東区浅草一丁目7番19 | Asakusa 浅草 230 m | Commercial | ¥2,350,000 US$14,912/㎡ · US$1,385/ft² | +21.8% | +102.6% |
| 9 | Minato 港区 港区高輪二丁目1番9 | Sengakuji 泉岳寺 1 m | Commercial | ¥6,680,000 US$42,388/㎡ · US$3,938/ft² | +21.5% | +69.1% |
| 10 | Shinjuku 新宿区 新宿区若松町110番3 | Wakamatsu-kawada 若松河田 300 m | Commercial | ¥2,550,000 US$16,181/㎡ · US$1,503/ft² | +21.4% | +72.3% |
Biggest one-year rises, residential (基準地価, 1 July 2026)
| # | Location (point address) | Nearest station | Use | ¥/㎡ | 1 yr | 5 yr |
|---|---|---|---|---|---|---|
| 1 | Shinagawa 品川区 品川区北品川五丁目628番2外 | Osaki 大崎 530 m | Residential | ¥1,960,000 US$12,437/㎡ · US$1,155/ft² | +18.8% | +69.0% |
| 2 | Minato 港区 港区芝浦四丁目1番34 | Tamachi 田町 840 m | Residential | ¥2,600,000 US$16,498/㎡ · US$1,533/ft² | +18.7% | +63.5% |
| 3 | Minato 港区 港区西麻布三丁目4番21 | Hiroo 広尾 660 m | Residential | ¥2,760,000 US$17,514/㎡ · US$1,627/ft² | +17.4% | +54.2% |
| 4 | Minato 港区 港区六本木五丁目367番1 | Azabu-Juban 麻布十番 400 m | Residential | ¥3,520,000 US$22,336/㎡ · US$2,075/ft² | +17.3% | +53.7% |
| 5 | Koto 江東区 江東区有明一丁目106番3外 | Ariake-tennis-no-mori 有明テニスの森 240 m | Residential | ¥1,170,000 US$7,424/㎡ · US$690/ft² | +17.0% | +68.3% |
| 6 | Toshima 豊島区 豊島区高田三丁目770番1 | Takadanobaba 高田馬場 540 m | Residential | ¥1,400,000 US$8,884/㎡ · US$825/ft² | +16.7% | +66.1% |
| 7 | Taito 台東区 台東区谷中三丁目120番1 | Sendagi 千駄木 400 m | Residential | ¥770,000 US$4,886/㎡ · US$454/ft² | +16.7% | — |
| 8 | Minato 港区 港区赤坂一丁目1424番1 | Tameike-sanno 溜池山王 420 m | Residential | ¥7,500,000 US$47,592/㎡ · US$4,421/ft² | +16.6% | +54.0% |
| 9 | Minato 港区 港区南青山七丁目274番 | Hiroo 広尾 900 m | Residential | ¥2,500,000 US$15,864/㎡ · US$1,474/ft² | +16.3% | +53.4% |
| 10 | Minato 港区 港区南青山四丁目487番 | Omotesando 表参道 560 m | Residential | ¥2,870,000 US$18,212/㎡ · US$1,692/ft² | +16.2% | +50.3% |
Land price vs what property actually sold for
For the wards where we have a transaction-price page, here are the benchmark land values next to the medians of actual sales in the same ward.
| Area | 公示地価 1 Jan 2026 (median) | 基準地価 1 Jul 2026 (median) | Actual sales, MLIT closed prices 成約価格 (median) | |||
|---|---|---|---|---|---|---|
| Residential | Commercial | Residential | Commercial | Houses with land, ¥/㎡ of land | Resale condos, ¥/㎡ of floor | |
| Chiyoda 千代田区 | ¥4,070,000 US$25,826/㎡ · n=7 | ¥4,475,000 US$28,396/㎡ · n=52 | ¥4,070,000 US$25,826/㎡ · n=4 | ¥4,940,000 US$31,347/㎡ · n=28 | — | ¥1,714,286 2025 · US$10,878/㎡ · n=357 |
| Chuo 中央区 | ¥1,910,000 US$12,120/㎡ · n=9 | ¥4,535,000 US$28,777/㎡ · n=54 | ¥1,815,000 US$11,517/㎡ · n=4 | ¥4,100,000 US$26,017/㎡ · n=27 | ¥1,413,333 2025 · US$8,968/㎡ · n=6 | ¥1,818,182 2025 · US$11,537/㎡ · n=1421 |
| Minato 港区 | ¥2,750,000 US$17,450/㎡ · n=30 | ¥5,980,000 US$37,947/㎡ · n=51 | ¥2,550,000 US$16,181/㎡ · n=10 | ¥6,320,000 US$40,104/㎡ · n=27 | ¥2,784,615 2025 · US$17,670/㎡ · n=20 | ¥1,882,353 2025 · US$11,945/㎡ · n=1557 |
| Shinjuku 新宿区 | ¥1,080,000 US$6,853/㎡ · n=28 | ¥2,900,000 US$18,402/㎡ · n=49 | ¥1,050,000 US$6,663/㎡ · n=12 | ¥3,800,000 US$24,113/㎡ · n=29 | ¥1,403,704 2025 · US$8,907/㎡ · n=86 | ¥1,225,000 2025 · US$7,773/㎡ · n=1298 |
| Shibuya 渋谷区 | ¥1,770,000 US$11,232/㎡ · n=25 | ¥5,250,000 US$33,314/㎡ · n=33 | ¥1,620,000 US$10,280/㎡ · n=10 | ¥8,475,000 US$53,779/㎡ · n=18 | ¥1,955,556 2025 · US$12,409/㎡ · n=63 | ¥1,571,429 2025 · US$9,972/㎡ · n=907 |
The last two columns are medians of recorded sales from MLIT's Real Estate Information Library (our price pages), for the latest full year, using brokers' closed prices (成約価格) only; MLIT's separate buyer survey (取引価格・アンケート) is not mixed in. The closed-price data has no land-only sales, so the land-based column is houses with land per ㎡ of land: it includes the building, so it sits above the benchmark land values. Condo prices are per ㎡ of floor area and include the building and only a small share of the site, so they are not comparable one-to-one with land values either. Sales mix differs from the sample plots, and small n moves medians a lot.
How we calculated this
- Data: every sample point of the 2026 Official Land Price (公示地価, 1 Jan 2026, 25,565 points nationwide) and the 2026 Prefectural Land Price Survey (基準地価, 1 Jul 2026, 21,456 points), from MLIT's National Land Numerical Information files. Forest land is excluded (the survey values it per 10 ares, not per ㎡).
- The two surveys are never mixed. They are six months apart, so every median and average is for one survey; where both are shown they sit side by side.
- Median ¥/㎡ is the middle value of the points in that ward, town or station catchment. n is the number of points.
- Year-on-year change is the simple average of each continuing point's change (MLIT's own method); points that are new, re-selected or back from a pause have no change and are not counted (n shows how many were).
- 5-year change is the median change since 2021 of points priced in all six years with no re-selection in between.
- Stations are the "nearest station" field of each point. The two surveys write some names differently (基準地価 often puts the operator first, e.g. OsakaMetro本町 vs 本町), so we normalise names before grouping. Bus stops are left out. English station and ward names are our own romanisation.
- The history chart uses only points priced in every year from 2006 to 2026 (the same sample each year), so it is not moved by points being added or dropped; it is a median of those points, not an index of the whole market.
- US dollars use the ECB reference rate of 2026-09-25 (¥157.59 = US$1) for every year, so the dollar figures show today's value, not the historical exchange rate. 1 ㎡ = 10.764 ft².
Source: "National Land Numerical Information (Land Price Publication data / Prefectural Land Price Survey data)", Ministry of Land, Infrastructure, Transport and Tourism (MLIT): https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L01-2026.html and https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L02-2026.html, licensed under CC BY 4.0. Processed and translated by Japan House Prices: the medians, averages, rankings, station groupings, English names and dollar conversions are our own calculations and are not published or endorsed by MLIT. Japan House Prices is not affiliated with MLIT or any prefecture.
「国土数値情報（地価公示データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L01-2026.html）を加工して作成／「国土数値情報（都道府県地価調査データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L02-2026.html）を加工して作成
National and regional headline changes: 出典：「令和8年都道府県地価調査」（国土交通省）（https://www.mlit.go.jp/report/press/tochi_fudousan_kensetsugyo04_hh_000001_00084.html）; 2026 Official Land Price press release: MLIT.
Exchange rate: ECB euro foreign exchange reference rates (cross rate), 2026-09-25. This page is not a valuation, an offer of property, or investment advice. Last reviewed 2026-09.
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Official land prices: Japan land prices 2026 (all areas) · Osaka land prices by ward · Kyoto land prices by ward · Fukuoka land prices by ward · Niseko & Hakuba land prices
Transaction prices (what property actually sold for): Tokyo apartments · Tokyo ¥/㎡ by ward · Kyoto · Fukuoka condos · Niseko · Hakuba. Costs on top of the price: tax & cost calculator. Hazards: earthquake & flood risk by ward. Process: buying in Japan as a foreigner.