March 25, 2023. Hokkaido Newspaper.
The Ministry of Land, Infrastructure, Transport and Tourism announced the official government land prices as of January 1 this year on March 22. The average land price for all commercial, residential, and industrial use land in Hokkaido rose for the seventh consecutive year, up 6.8% from the previous year, the highest rate of increase among all prefectures in Japan. Land prices continued to rise in the Sapporo area, which includes the cities of Sapporo and Kitahiroshima, due to redevelopment following the extension of the Hokkaido Shinkansen to Sapporo and the construction of a new baseball stadium for the professional baseball team Hokkaido Nippon Ham Fighters. The residential land price increases in the Sapporo area dominated the top 100 in Japan, while the commercial land price increases ranked all in the top 10. This is the first time that the rate of property price increases in Hokkaido dominated the national top 100 for residential areas and the top 10 for commercial areas. The six cities of Sapporo, Kitahiroshima, Ebetsu, Eniwa, Chitose, and Ishikari led the national residential property price increase areas, and the four cities of Kitahiroshima, Ebetsu, Eniwa, and Chitose dominated the commercial property land price increase areas. Residential land prices in Hokkaido increased by 7.6% for the fifth consecutive year. Due to the increased time spent at home due to the Covid19 pandemic, demand for owner-occupied homes has risen, and land prices in Sapporo rose 15.0%. Demand expanded to the suburbs, which are more affordable than central Sapporo, with Teine Ward rising by 22.1%, and Ebetsu, Eniwa, Kitahiroshima, Chitose, and Ishikari each rising by more than 20%. Property prices at 1-10-3, Kyoei-cho, Kitahiroshima City, which has the highest rate of increase nationwide, increased by 30.0%. Surrounding cities and suburbs around Sapporo, have relatively low property price levels, so even a small price increase tends to increase the rate of increase exponentially. Commercial land prices in Hokkaido also increased by 4.9% for the eighth consecutive year. The highest rate of increase nationwide was 1-1-3 in Sakae-cho, Kitahiroshima City, which is located in an area where the new Hokkaido Nippon Ham Fighters Baseball Stadium is being built. This development is spurring demand and prices. Property prices in this neighborhood rose 28.4% from last year. In Sapporo, where the redevelopment of the central downtown area continues, rent increased by 9.7% for the 10th consecutive year. Demand for office buildings is strong, and demand for stores, restaurants and bars in Susukino is on a recovery trend. On the other hand, land prices continued to fall in former coal-producing areas and other areas with declining and aging populations. A total of five sites in the Sorachi region (Nae Town, Akabira City, Ashibetsu City, Fukagawa City, and Muroran City) were among the top 10 residential property price areas in Japan in terms of the rate of decline. The top 10 cities in Japan in terms of the rate of decline for commercial land included Mukawa Town, Yubari City, and Akabira City in the Iburi region, as well as eight other cities. An official of the Ministry of Land, Infrastructure, Transport and Tourism said, “With the continued concentration of the population in the Sapporo area, Hokkaido has become one of the top places in Japan for both the highest rates of increase and the highest rates of decline.” The highest price per square meter for residential land in Hokkaido was 700,000 Yen for a plot of land located in the upscale residential area of South 1 West 26, Chuo-ku, Sapporo, for the fifth consecutive year. This represents a 7.7% increase compared to the previous year. The highest price per square meter for commercial land was 6,050,000 Yen for a plot of land located at North 4 West 4, which is close to Sapporo Station, for the third consecutive year. This represents an increase of 8.6% compared to the previous year.
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