Japan Roadside Land Prices Up for 4th Year in 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.
(2025/07/01-14:10)
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