A Study on the Relation Between Residential Land Value and the Distance to the Center of the Tokyo Metropolitan Area (1970–2016)

The purpose of this paper is to investigate the relation between residential land value and the distance to the center of the Tokyo Metropolitan Area from 1970 to 2016. The result shows three trends in the relation: (1) residential land value had increased at all standard sites even while the interest rate was kept high; (2) when the interest rate has become lower, the shorter the distance to the center became, the higher residential land value has increased; and (3) recently the areas where residential land value fluctuate has become narrower. This paper discusses about these trends.