Japan Land Prices Rise for Fifth Straight Year

Japan's land prices surged for a fifth year in a row, according to data from the Ministry of Land, Infrastructure, Transport and Tourism. The country's average land prices rose by 1.5%, with commercial land seeing the most significant increase at 2.9%, outpacing residential land's 1.0% growth. The Meidi-Ya Ginza Building in Tokyo's Ginza district held the title of Japan's most expensive commercial property for the 21st consecutive year, valued at 52.5 million yen per square meter.

In the Tokyo metropolitan area, land prices in The House Asakusa in Taito Ward jumped by 26.9%. Land price increases were more pronounced in Tokyo and Osaka metropolitan areas, while they slowed in Nagoya, Sapporo, and Fukuoka. Meanwhile, a tropical depression south of Japan's coast could evolve into a typhoon by September 15, potentially impacting Okinawa during the Silver Week holiday, bringing heavy rain to other parts of the nation.

The Japan Air Self-Defense Force's Global Hawk unmanned reconnaissance aircraft went missing over international waters near Tottori Prefecture on September 15, with debris and oil later discovered in the vicinity. Kajima Corp. unveiled the construction site for KAJIMA TREE, a 60-meter wooden tower for the International Horticultural Expo set to open in March 2027.

Yamanashi Prefecture is considering charging climbers who get into trouble on Mount Fuji during the closure period for rescue by disaster-prevention helicopters. Japan's benchmark land prices climbed for a fifth consecutive year, with commercial land posting stronger gains due to persistent demand for hotels and other properties in major cities, as reported by the Ministry of Land, Infrastructure, Transport and Tourism on September 15.