Higher land prices add to signs of Japan’s recovery from pandemic

The average land price in Japan rose 1.5 percent in 2023 from a year earlier for the second consecutive year of increase, government data showed Monday, adding to signs of the economy recovering from the coronavirus pandemic.

A recovery in prices for commercial areas led the overall trend, according to the data as of Jan. 1, after the government eased COVID-19 measures, including immigration controls, stimulating hopes that businesses will be revived with the help of demand from foreign tourists.

Out of the 47 prefectures, 25, including Tokyo and Osaka, observed higher average land prices. Tha...