Japan Average Land Price Rises for 3rd Consecutive Year

   Tokyo, Sept. 17 (Jiji Press)--The average land price in Japan as of July 1 rose 1.4 pct from a year earlier, up for the third consecutive year, reflecting the mild economic recovery trend in the country, the land ministry said Tuesday.
   Residential land prices increased 0.9 pct as interest rates remained low, while commercial land prices grew 2.4 pct on a rise in the number of visitors from abroad.
   By region, overall land prices showed the first increase in 32 years in locations outside the three metropolitan areas of Tokyo, Nagoya in central Japan and Osaka in western Japan, as well as the four major regional cities of Sapporo in northern Japan, Sendai in northeastern Japan, Hiroshima in western Japan and Fukuoka in southwestern Japan.
   In the three metropolitan areas, both residential and commercial land prices rose faster than a year before. Meanwhile, the four major regional cities logged slower increases in both prices.
   In the other areas, overall land prices grew as commercial land prices rose faster while residential land prices fell more slowly.

(2024/09/17-17:53)

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