Pandemic leads to Japan land prices falling for 1st time in 6 yrs

Politics Economy

The average price of land in Japan fell for the first time in six years due to declining demand for urban commercial land spurred by the novel coronavirus pandemic, the government said Tuesday. Land in all categories, including residential and industrial, fell 0.5 percent from a year earlier as of Jan. 1., compared with a 1.4 percent rise a year earlier. All-category land prices in the three largest metropolitan areas of Tokyo, Osaka and Nagoya slipped 0.7 percent from the previous year, while rural land prices dipped 0.3 percent. The land ministry said the effects of the pandemic on land pric...

Kyodo News

Kyodo News