HOME > NATIONAL > Article

Text Size

small

medium

large


Japan Roadside Land Prices Up for 4th Year in Row

Japan Roadside Land Prices Up for 4th Year in Row

The plot of land in front of the Kyukyodo stationery shop in Tokyo's upscale Ginza district, pictured on Friday, has the highest per-square-meter roadside land price in Japan for 40 years in a row.
The plot of land in front of the Kyukyodo stationery shop in Tokyo's upscale Ginza district, pictured on Friday, has the highest per-square-meter roadside land price in Japan for 40 years in a row.

   Tokyo, July 1 (Jiji Press)--Prices of land facing major roads in Japan as of Jan. 1 rose 2.7 pct from a year before on average, up for the fourth consecutive year, the National Tax Agency said Tuesday.
   Roadside land prices, used to calculate inheritance and gift taxes, logged their steepest increase since the current calculation method was introduced in 2010, reflecting a spike in demand for homes and hotels, as well as resort facilities targeting visitors to Japan.
   The prices were up in 35 of the country's 47 prefectures.
   Tokyo registered the largest increase of 8.1 pct, likely due to a fall in the office vacancy rate and rising land demand for stores and hotels, followed by the southernmost prefecture of Okinawa, at 6.3 pct.
   Roadside land prices fell in the remaining 12 prefectures, including the central prefectures of Niigata and Gifu, down by four from a year before. The pace of decline slowed in seven prefectures.

To read a full story, please click here to find out how to subscribe.

NATIONAL

HEADLINES

POLITICS
Sanseito Raises Target for Sunday's Upper House Election to 20 Seats
ECONOMY
Rapidus Unveils Prototype of Chip with 2-Nanometer Circuit Line Width
SPORTS
Softball: Japan Marks 8th Straight Win at Women's Aisa Cup Preliminary Round
OTHER
Amid Climate Change, Half of People in Tuvalu Apply to Immigrate to Australia

AFP-JIJI PRESS NEWS JOURNAL


Photos