Foreign tourists' favorite areas enjoy land price rises
Jiji -- Jul 03
Areas popular with foreign tourists in Japan, such as Tokyo, Kyoto and Okinawa Prefecture, have enjoyed strong growth in land prices year on year, a government report showed Monday.

The southernmost prefecture of Okinawa posted growth of 5.0 pct in prices of land facing major streets, according to the National Tax Agency report. It was the biggest growth among the 47 prefectures of Japan, where the nationwide average was 0.7 pct.

The Kokusaidori main street in downtown Naha, the capital of Okinawa, and the Shintoshin new city center district in northern Naha, with its many commercial facilities and office buildings, saw their respective highest land prices rise more than 10 pct.

"I often get inquiries about land that is good for building hotels on," said a licensed real estate appraiser in the prefecture.

Okinawa attracted 9.58 million tourists in fiscal 2017, of whom 2.69 million came from overseas, hitting a record high for the 10th consecutive year.

News source: Jiji
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Areas popular with foreign tourists in Japan, such as Tokyo, Kyoto and Okinawa Prefecture, have enjoyed strong growth in land prices year on year, a government report showed Monday. (Jiji)