News Column

Land prices rise at 80% of surveyed locations in Japan: gov't survey

August 29, 2014

Land prices rose over the past quarter at 80 percent of the 150 major commercial and residential locations surveyed by the government, the land ministry said Friday.

The impact of April's consumption tax hike on real estate investment was not as serious as the industry feared, said an official at the Ministry of Land, Infrastructure, Transport and Tourism.

According to results of the survey on the change in land values over the three months to July 1, land prices rose at 120 locations, were unchanged at 28 and fell at two.

In the Tokyo metropolitan region, land prices increased at 53 locations, remained unchanged at 11 and dropped at one. Two commercial locations in central Tokyo saw increases in the 3-6 percent range.

In Osaka and its vicinity, prices rose at 31 locations, remained unchanged at eight and fell at none.

In the Nagoya region, where manufacturers' production was brisk, land prices rose at all 14 survey locations for the fifth straight quarter.

In the other regions, land prices rose at 22 locations, remained flat at nine and declined at one.

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Source: Japan Economic Newswire

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