Japanese land prices up for 3rd year, returns to pre-pandemic levels

Economy

The average price of land in Japan rose for the third consecutive year, returning to pre-pandemic levels on the back of the recovering economy and an increase in foreign visitors, government data showed Tuesday.

Land prices in all categories nationwide climbed 2.3 percent from a year earlier as of Jan. 1, compared with a 1.6 percent increase the previous year, according to the Ministry of Land, Infrastructure, Transport and Tourism.

Prices for residential-use land grew 2.0 percent on average, while commercial-use land prices rose by 3.1 percent.

In regional areas excluding the four major citie...

Kyodo News

Kyodo News