On the 17th, Chiba Prefecture announced the standard land prices (as of July 1) within the prefecture, which serve as benchmarks for land transaction prices. The average fluctuation rate for all purposes is 3.7%, an increase of 0.9 percentage points from the previous year (the average price is 123,600 yen), marking a positive trend for the 10th consecutive year. In terms of regional increase rates for residential land, Nagareyama City has ranked first for the first time.
The regional increase rate for all purposes ranks Ichikawa City at 10.7%, the highest due to high demand for both residential and industrial land close to the city center. Nagareyama City follows in second place at 10.3%, and Urayasu City in third place at 10.0%.
The increase rate for residential land ranks Nagareyama City first at 10.6%. The high residential demand along the Tsukuba Express line has contributed to this ranking. Ichikawa City is in second place at 9.2%, and Urayasu City is in third place at 8.9%.
The first place in commercial land increase rates is Urayasu City at 16.5%, attributable to the recovery in inbound tourism (foreign visitors to Japan). The top rank for industrial land is Funabashi City at 28.6%.
On the other hand, Choshi City has the worst decline rate at 2.4%, followed by Katsuura City and Nagara Town, both at 1.0%.
In the Oubou region, which is showing a downward trend, Ichinomiya Town, which became the surfing venue for the Tokyo Olympics, has notable increases in residential land at 2.3% and commercial land at 7.0%, as migration and dual residence have progressed.
Yoshio Takamatsu, the representative secretary of the land price survey appraisal committee, analyzed the situation by stating, “The overall upward trend is largely due to the continuation of low-interest rate policies. Unless there is a rapid increase in interest rates, we expect the robust situation to continue.” (Naoto Ogawa)