[JP] Station Areas Anticipate Economic Gains as Chuo Shinkansen Maglev Advances

[Miss Maglev]

[JP] Station Areas Anticipate Economic Gains as Chuo Shinkansen Maglev Advances After Shizuoka Approval

Source: The Asahi Shimbun / AJW
Original title:
Sites on maglev line eagerly await economic bonanzas
Date: July 17, 2026, 17:33 JST
Original language: English
Web link: https://www.asahi.com/ajw/articles/16735587
Accessed: July 17, 2026

Approval has been granted for the final unstarted section of the Chuo Shinkansen maglev project, raising hopes for economic gains along the route between Tokyo and Nagoya. Shizuoka Governor Yasutomo Suzuki approved construction of the 8.9-kilometer Shizuoka section on July 7 after roughly nine years of delay linked to environmental concerns.

The project is led by JR Central and carries an estimated construction cost of ¥11 trillion, including ¥3 trillion in government fiscal investment and loan funding. More than 60 years have passed since Japanese National Railways began maglev research in 1962.

The planned route begins at Tokyo/Shinagawa Station and passes through Kanagawa, Shizuoka, Yamanashi, Nagano, and Gifu before reaching Nagoya. The fastest Shinagawa–Nagoya trip is planned at 40 minutes. Intermediate stations are planned at Sagamihara in Kanagawa, Kofu-Chuo in Yamanashi, Iida in Nagano, and Nakatsugawa in Gifu.

Travel-time analysis shows that areas around the new stations in Yamanashi, Nagano, and Gifu, as well as Nagoya and Osaka, could fall within one hour of JR Shinagawa Station. This is expected to create a large “linear economic zone.”

In Yamanashi, construction of the planned Yamanashi Prefecture Station in Otsu, Kofu, began in March, with completion expected in 2031. Archaeological surveys and other preparatory work are underway. Once the maglev opens, the trip from the station to Shinagawa is expected to take about 25 minutes.

A 53-year-old woman living near the planned station site said: “I can imagine a future where my children commute from home to jobs in Tokyo or Nagoya.” She also expects younger residents from the Tokyo metropolitan area to move in and hopes development will spread beyond central Kofu.

Kaname Irikura, representative secretary of the Yamanashi Association of Corporate Executives, said: “The Linear Chuo Shinkansen Line is coming to this prefecture that lacks both an airport and a Shinkansen line. This is a once-in-a-lifetime opportunity.”

The population within a 60-minute travel radius of the new Kofu station is expected to rise from about 1.6 million to roughly 33 million. A joint study by the University of Yamanashi and the Yamanashi Association of Corporate Executives estimates the economic impact of the new station in the Kofu area at about ¥12 billion per year. Plans are also moving forward for a smart interchange on the nearby Chuo Expressway to link rail and road networks.

Irikura said: “We cannot simply say, ‘The maglev line was built, and that’s enough.’ We need to think about how this opportunity can transform Yamanashi and generate even greater benefits.”

Economic expectations are already visible in land prices. In Otsu, assessed industrial land prices stood at ¥22,600 per square meter as of January 1, more than 20% above the level five years earlier. Residential land nearby has also begun to rise, although actual transactions remain limited because much of the surrounding area is agricultural land.

Licensed real estate appraiser Hiroaki Sugimoto said: “The figures do not yet reflect the interest because transactions have not actually been completed. But there is no doubt that land prices will rise in the future.”

In Sagamihara, where Kanagawa Prefecture Station is under construction near Hashimoto Station, assessed commercial land prices have reached ¥672,000 per square meter, up 10.2% from the previous year and about 1.5 times the level five years ago. When the maglev opens, the Hashimoto–Shinagawa trip is expected to take about 10 minutes, compared with about 50 minutes today.

A 29-story condominium tower with 458 units was completed in June a four-minute walk from Hashimoto Station. Tokyu Land Corp. said prospective buyers expect the new station to raise property values and improve business-travel convenience. Kazuki Yamada of Tokyu Land said: “People feel they can buy a property for about half the price while also expecting future increases in asset value. Many prospective buyers believe this will help them achieve financial security and enjoy a better quality of life.”

The central uncertainty remains the opening date. The original 2027 target for the Tokyo–Nagoya section was abandoned, largely because construction in Shizuoka had remained unresolved. JR Central has not yet announced a revised opening date. Government economic policy guidelines project the Tokyo–Osaka section could open as early as 2037, but major challenges remain.

A 78-year-old man living near the planned Yamanashi station site said: “People around here say the same thing. We’ve given up hope of seeing the line connected within our lifetimes.”