Business | Mar 26

Land Prices in Japan Rise for Third Consecutive Year

TOKYO, Mar 26 (News On Japan) - As of January 1 this year, land prices across Japan have increased for the third consecutive year, with the rate of increase also expanding, indicating a clear recovery from the coronavirus pandemic.

According to a land price survey released by the Ministry of Land, Infrastructure, Transport and Tourism, the national average rose by 2.3%.

Both residential and commercial land prices have risen for three consecutive years, with the rate of increase also growing.

The recovery in people's movement from the coronavirus pandemic has caused an increase that started in urban areas to spread to surrounding regions.

Areas experiencing growth include tourist destinations that have seen the return of visitors, commercial areas undergoing redevelopment, regions where semiconductor manufacturers are expanding their factories, and logistics hubs with high transport convenience.

The highest land price was in Ginza 4-chome, Tokyo, for the 18th consecutive year, at 55.7 million yen per square meter.

Source: ANN

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