Summary
[Japan’s benchmark land price fell 0.4% for two consecutive years]The Ministry of Land, Infrastructure, Transport and Tourism announced on the 21st the land price of prefectures (standard land price) as of July 1 this year. The national average of all types of land fell by 0.4% compared with the previous year. It has fallen for two consecutive years, and the decline has narrowed by 0.2 percentage points. Affected by the prolonged COVID-19 pandemic, sluggish demand for shops and hotels has led to an increase in the decline in commercial land, while residential land has improved slightly.
According to Kyodo News, Japan’s Ministry of Land, Infrastructure, Transport and Tourism announced on July 1st this year’s land prices in prefectures (standard land prices). The national average for all types of land fell by 0.4% from the previous year, a decline for two consecutive years. Narrowed by 0.2 percentage points.
Affected by the prolonged COVID-19 pandemic, sluggish demand for shops and hotels has led to an increase in the decline in commercial land, while residential land has improved slightly. The three major urban areas improved from flat to a positive growth of 0.1%, but the Osaka area turned down, and the local area continued to decline.
(Article Source: Interface News)
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