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Japanese real estate stocks surge as land prices rise for a fifth straight year, the highest in 30 years
Japanese real estate stocks rose today after the country's land ministry reported that nationwide land prices climbed for a fifth consecutive year, with the pace of growth the highest in more than 30 years. Data released late yesterday showed nationwide land prices rose 1.5% in the 12 months to July 1, 2026, while average land prices in the Tokyo metropolitan area rose 5.4% and the Osaka metropolitan area gained 3.6%. Rising land prices are a positive for property developers because they lift asset values and open the door to higher rents. Shares of Mitsui Fudosan, Japan's largest real estate developer by market value, pared their opening gains and were up 0.1%. Hulic rose 0.8%, while Mitsubishi Estate and Sumitomo Realty gained between 1% and 2%. The Nikkei index closed today's session up 0.69%.