Official

The “publicized land price” is determined by the Ministry of Land, Infrastructure, Transport and Tourism as of January 1 every year based on the appraisal by two or more real estate appraisers at each point, and announced in late March. Apprais the "standard land" and the price per square meter is announced.

Due to the impact of COVID-19 on economic activity, the national average of "publicized land prices" announced on March 23 this year fell for the first time in six years (down 0.5% from the previous year), but the "publicized land prices" of Yamano Musicki Ginza Main Store (4-5-6 Ginza, Chuo-ku, Tokyo) reached the highest for 15 consecutive years. The price per square meter is 53.6 million yen (previous time was 57.7 million yen).

The “base land price” is to determine the “land price” as of July 1 every year based on the appraisal by one or more real estate appraisers at each location and announce it in late September. . The price per square meter of "reference land" is announced, and unlike "public land price", it is not limited to cities and surrounding areas, so it can be said that it is a complementary index.

Similar to the "publicized land price", the demand for real estate weakened due to COVID-19, and the "standard land price" announced on September 29 last year was down 0.3% year-on-year on average for commercial land. However, the "standard land price" of the Meijiya Ginza Building (2-6-7 Ginza, Chuo-ku, Tokyo) was the highest for 15 consecutive years. The price per square meter is 41 million yen (the previous time was 43.2 million yen).

By the way, the Meijiya Ginza Building is not subject to the "publicized land price", and the Yamano musical instrument Ginza Main Store is not subject to the "standard land price".

The “land price (inheritance tax land price)” is determined by the NTA as of January 1 of each year based on the published land price, actual sales price, and appraisal value by a real estate appraiser. It will be announced on July 1st. The price per square meter of "land facing the route (road)" is announced and used when calculating inheritance tax and gift tax.

Since the "Road Price" announced on July 1, last year did not reflect the effects of COVID-19, the average of about 320,000 locations nationwide rose for the fifth consecutive year (up 1.6% from the previous year), and Hatoi Domae (5-chome Ginza Chuo-dori, Ginza, Chuo-ku, Tokyo) was ranked first for 35 consecutive years. The price per square meter is 45.92 million yen (the previous time was 45.6 million yen).

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Why is the land in Ginza the highest in Japan? In addition to its high profitability, the status of opening a store on Ginza Chuo-dori, a luxury downtown area with history, trust and dignity, as well as the Fifth Avenue in New York and Champs-Elysee Street in Paris, is raising the price of land. Is it an investment to acquire the luxury brand image of Ginza? I can't invest a lot of money, but sometimes I have tea in Ginza and enjoy the "special feeling".