According to The Asahi Shimbun, land prices rose 2.3 percent on average nationwide, a third consecutive year-on-year increase and the strongest rise since the financial crisis of 2008.
Land ministry figures announced are based on a survey of about 26,000 residential, commercial and other land plots as of Jan. 1. Sixty-five percent of those survey points registered increases from the year before. At 60 percent, land prices exceeded 2020 levels before the novel coronavirus spread. “All in all, land prices have returned to pre-pandemic levels,” a ministry official said. Residential land prices rose 2 percent on average nationwide. Increases in the three major metropolitan areas around Tokyo, Osaka and Nagoya averaged 2.8 percent. As apartment prices soared in Tokyo, prospective homeowners have been buying more affordable properties in neighboring prefectures. https://www.asahi.com/ajw/articles/15211533
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