Ekibiru (Station Building) and its relation with surrounding land value

Japan’s railroad stations, called Ekibiru 駅ビル(Station Building), are not only the place for commuters to take train and/or subway but also the destination for people to shop, dine and spend time with friend and family, offices for workers and hotels for travelers. In Tokyo Metropolitan Area, Majority of railroad companies, including former public-owned now privatized East Japan Railway Company, Tokyo Metro, Tokyu Dentetsu, are enjoying profits.1 Study also shows that the latest Class A buildings have the tendency to be connected to railroad station and are mixed-use of office and commercial.2 The study aims to gain a better understanding of whether or not Ekibiru (Station with mixed-use right on the top) has correlation with surrounding land value by using “before and after” land value data of 116 station areas and the ward that station located in. The result shows that while there are tendency that Ekibiru area has higher land value than Ward or City average compared with Station area without Ekibiru, there cannot be seen clear correlation between Ekibiru renovation and its effect on surrounding land value.