CONCIERIA, the property brand of CLEARTH LIFE in Tokyo

“2023 Roadside Land Prices” were announced

On July 3, 2023, the National Tax Agency (NTA) announced the nationwide roadside prices for 2023, based on the assessment as of January 1.

The national average price has risen by 1.5 % compared to the previous year, demonstrating positive growth for the second consecutive year .
This growth can be attributed to the recovery of domestic commercial activities and increased demand from overseas, which has further emphasized the rise of commercial areas and tourist destinations.

Ginza Chuo-dori Street (in front of Kyukyodo) in 5-chome, Ginza, Chuo-ku, Tokyo, held the title of being the most expensive road in Japan for 38 consecutive years , with a price of 42.72 million JPY per square meter (up 1.1 % year-on-year).

By city and region, there was a growth trend centered on large-scale redevelopment areas such as Sapporo City, Hokkaido (due to the Hokkaido bullet train extension plan) and Kikuyo-machi, Kumamoto (with the entry of TSMC, a Taiwanese semiconductor manufacturer).

Popular tourist destinations such as Asakusa experienced significant price increases, with Kaminarimon-dori Street, 1-chome, Asakusa, Taito, Tokyo, showing a 7.0% year-on-year increase.

Although the impact of the Covid-19 pandemic has diminished and the economy has clearly recovered, the prices of business districts in central Tokyo remained stable or slightly increased. This can be attributed to changes in working styles, including the adoption of remote work.

"Roadside Land Prices " refer to the price per square meter of standard residential land facing a road and are used as the basis for calculating inheritance tax and gift tax.
The assessment date is January 1st of each year, and the National Tax Agency (NTA) announces the prices in July.