Japan Nationwide Property Prices Decline in 2020, Led by Osaka; Fukuoka Prices Resilient

On Tuesday, Japan’s Ministry of Land, Infrastructure, Transport, and Tourism released its official land prices as of Jan. 1, 2021. Along with the Prefectural Land Prices as of July 1, released by the ministry each year in September, it is one of the most important comprehensive indications of nationwide land price trends in Japan. Nationwide for all land uses, prices were down by 0.5% in 2020, compared with rises of 1.2% in 2018 and 1.4% in 2019 and the first decline since 2014. Central Tokyo residential land prices fell 0.4% after rising 6.0% in 2018 and 6.4% in 2019, while central Tokyo commercial land prices declined 2.8% after rising 8.8% in 2018 and 9.6% in 2019.