Land Prices in Japan See Growth Trends Despite Challenges

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Land Prices in Japan See Growth Trends Despite Challenges

The latest report on land prices in Japan reveals an average increase of 1.4 percent from the previous year, indicating a trend of growth for the third year in a row. This rise encompasses various types of land, including commercial, residential, and industrial, reflecting the overall average change in prices across different locations nationwide.

An interesting shift has been observed for regional areas outside the cities of Sapporo, Sendai, Hiroshima, and Fukuoka, where land prices have increased for the first time in 32 years. This suggests a promising recovery from the slowdown in land transactions during the COVID-19 pandemic, with demand remaining robust in the housing market, especially in the metropolitan centers. Notably, residential land prices have seen a consistent increase for the past three years in the Tokyo, Nagoya, and Osaka metropolitan areas, while commercial land prices have been on the rise for 12 consecutive years. Additionally, in cities like Sapporo, Sendai, Hiroshima, and Fukuoka, both residential and commercial land prices have seen 12 years of continuous growth.