What is the construction cost of commercial stores in Japan in terms of unit price per square meter?
In the previous issue of the “Special Report on Construction Costs per Square Meter,” we introduced cases involving warehouses. This article will introduce commercial stores and their construction costs in Japan in 2020 based on the unit price per square meter.
The unit cost per square meter for commercial stores by structure was around JPY 190,000 per square meter for steel structures.
First, a look at the construction cost of commercial stores nationwide by structure shows that the cost per square meter for steel-reinforced concrete structures was remarkably high at JPY 405,000 per square meter. Reinforced concrete structures cost JPY 299,000 per square meter. For steel structures, the cost was JPY 190,000 per square meter, and the cost for wood structures was the lowest at JPY 179,000 per square meter. (See figure below)
In the above figure, the average unit price per square meter of all structures is JPY 193,000 per square meter, which is close to that of steel structures, probably due to the fact that more than 90% of commercial stores in Japan are constructed as steel structures. (See figure below)
The highest unit price per square meter for commercial stores by prefecture was in Okinawa, followed by Osaka.
Looking at construction costs for commercial stores by prefecture in 2020, the highest was JPY 318,000 per square meter in Okinawa, followed by JPY 288,000 per square meter in Osaka, JPY 273,000 per square meter in Tokyo, and JPY 233,000 per square meter in Saga. This indicates that the construction costs of commercial stores in Okinawa, Osaka, and Tokyo are at very high levels compared to other regions. On the other hand, the lowest unit price per square meter was JPY 102,000 in Kagoshima, followed by JPY 104,000 in Nara and JPY 131,000 in Tokushima. (See figure below)
Commercial store construction costs set to rise both in Tokyo and nationwide.
(1) Commercial store construction costs in Tokyo are rising.
Looking at the level of construction costs for commercial stores in Tokyo from 2011 to 2020 shows that there was a slight upward trend from JPY 150,000 per square meter in 2011 to JPY 180,000 per square meter in 2013. In 2014, the price rose sharply to JPY 248,000 per square meter, and after that, the price continued to rise, reaching JPY 304,000 per square meter in 2016. However, it began to decline in 2017, and by 2019, it had fallen to JPY 260,000 per square meter. By 2020, the price was JPY 273,000 per square meter, which suggests an upward trend from 2019 levels. (See figure below)
(2) The cost of building commercial stores nationwide is also rising.
Similarly, looking at the level of construction costs for commercial stores in Japan shows that the cost rose continuously from JPY 105,000 per square meter in 2011 to JPY 176,000 in 2016, but like the cost of construction for commercial stores in Tokyo, it fell to JPY 168,000 per square meter in 2017. After that, the cost remained generally flat at JPY 171,000 per square meter in 2018 and JPY 165,000 per square meter in 2019. By 2020, the cost rose to JPY 190,000 per square meter. (See figure below)
In this issue of the “Special Report on Construction Costs per Square Meter,” we introduced construction costs per square meter for commercial stores.
It is worth mentioning that acquiring construction costs using statistical data introduced in this column is suitable for grasping construction cost trends in a large market covering cities or the entire country, but is not as suitable for projects that are highly individualized or require high accuracy.
For more construction cost information, please click below.
- Construction cost for Apartment Complexes
- Construction cost for Detached Residences
- Construction cost for Rental Apartments
- Construction cost for Shared Residences
- Construction cost for Residences
- Construction cost for Office Buildings
- Construction cost for Factories
- Construction cost for Warehouses
- Construction cost for Commercial Stores
- Construction cost for Hotels
- Construction cost for Hospitals
- Construction cost for Welfare and Nursing Care Facilities
- Construction cost for Schools
Reference｜Data List
Construction Costs Per Square Meter in Japan｜Steel Structure Commercial Stores
| Prefectures in Japan | Construction Costs (Unit : Thousand yen per square meter) |
|---|---|
| Okinawa | 318 |
| Osaka | 288 |
| Tokyo | 273 |
| Saga | 233 |
| Tochigi | 224 |
| Shimane | 209 |
| Toyama | 207 |
| Nagano | 201 |
| Hyogo | 198 |
| Oita | 190 |
| Yamanashi | 186 |
| Kanagawa | 184 |
| Nagasaki | 184 |
| Chiba | 182 |
| Wakayama | 181 |
| Fukuoka | 180 |
| Ishikawa | 177 |
| Kochi | 176 |
| Ibaraki | 176 |
| Mie | 172 |
| Fukui | 171 |
| Shizuoka | 170 |
| Hiroshima | 168 |
| Hokkaido | 167 |
| Aichi | 167 |
| Kumamoto | 162 |
| Yamagata | 161 |
| Aomori | 161 |
| Miyagi | 161 |
| Miyazaki | 158 |
| Akita | 155 |
| Gunma | 153 |
| Kyoto | 153 |
| Shiga | 152 |
| Kagawa | 150 |
| Gifu | 149 |
| Tottori | 149 |
| Niigata | 147 |
| Fukushima | 147 |
| Iwate | 146 |
| Ehime | 144 |
| Okayama | 140 |
| Yamaguchi | 136 |
| Saitama | 136 |
| Tokushima | 131 |
| Nara | 104 |
| Kagoshima | 102 |
| Nationwide | 190 |
Source: Compiled based on the Statistical Survey of Building Starts (Ministry of Land, Infrastructure, Transport and Tourism) (as of 2020)
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