📊 2026 nationwide context: Japan official land prices +2.8% and how to read the data →
Kanagawa prefecture’s residential land rose +4.23% year-on-year in MLIT’s 2026 release — a Tokyo-belt pace that outruns the +2.8% national average but still trails Tokyo’s ~+8.2% prefecture-wide average in the same survey. Yokohama (pop. ~3.75M) is the practical core of that Kanagawa bid — roughly 30 minutes to Tokyo Station on major JR lines. For investors, the wedge is simple: similar commute, lower land benchmarks than central Tokyo wards. JRE pairs official land prices with actual MLIT transactions on covered Tokyo wards — use Shinjuku as your “ask vs paid” sanity check.
2026 Land Price Data
| Metric | Yokohama / Kanagawa (2026) | Context |
|---|---|---|
| Kanagawa — residential (prefecture) | +4.23% YoY | MLIT 2026 release (summarized in our overview) |
| Yokohama-shi — all uses (point YoY avg) | +4.58%; avg price ¥418,461/m² | Third-party aggregation of published MLIT benchmark points |
| Tokyo — average (all uses, prefecture) | +8.22% | Faster core growth |
| Nationwide average (all uses) | +2.8% | Macro baseline |
What Makes Yokohama Attractive to Foreign Investors?
- Commute economics: Strong JR links to Tokyo Station ~30min — rental demand from dual-city workers.
- Scale: Japan’s second-largest city by population — deeper services than smaller commuter towns.
- Minato Mirai / bayfront redevelopment: Visible CBD upgrade story with international-facing retail and offices.
- Global familiarity: Chinatown, waterfront parks, and cruise/port imagery help overseas buyers map the city quickly.
- Relative value: Official benchmarks in central Tokyo wards remain multiples above Yokohama-facing Kanagawa points — see comparison below.
What Does MLIT Transaction Data Show?
Yokohama is not yet tracked in JRE's location database. We're evaluating demand to determine whether to add full MLIT transaction data for this area.
For areas we currently cover with actual transaction prices: → Explore All Locations
Yokohama (Kanagawa) vs Shinjuku
| Kanagawa / Yokohama trend | Shinjuku (Tokyo) | |
|---|---|---|
| 2026 land (headline) | Kanagawa residential +4.23% | West Shinjuku benchmark +6.3% (¥4.55M/m²) |
| Price level signal | Lower per-m² benchmarks than Chuo/Tokyo core | Prime office/residential core pricing |
| Tokyo access | ~30min to Tokyo Station | Central |
| Population anchor | ~3.75M (Yokohama) | Ward-scale CBD |
| Foreign footprint | Large (Yokohama Chinatown, port) | Very large |
Risks Investors Should Know
- “Bed town” competition: High supply in outer Kanagawa can cap rents — block-level diligence matters.
- Intra-city dispersion: Minato Mirai vs. inland suburbs are different products; prefecture averages hide variance.
- Coastal hazards: Tsunami and liquefaction zones exist — +4.23% land prints do not price your specific parcel’s hazard screen.
- Core vs belt gap: Tokyo +8.22% vs Kanagawa +4.23% shows where capital concentrated in 2026 — underperformance risk if Tokyo tightens faster.
Listing sites show asking prices. JRE shows what buyers actually paid — from MLIT government records. → Explore All Locations → Shinjuku Market Data