News On Japan

Japan's land prices rise for fourth consecutive year overall, but 27 prefectures see declines

Jul 02, 2019 (Japan Times) - Land prices have risen for the fourth straight year, reflecting strong demand in major cities and tourist spots driven by increasing numbers of visitors from overseas and a recovering economy, according to National Tax Agency data released Monday.

Brisk demand for hotels and offices pushed prices up by 1.3 percent on average as of Jan. 1, against a year earlier, but the gap between urban and rural areas continued to widen.

Land prices, mainly in urban areas, reflected a strong appetite for real estate investment and stable housing demand supported by improved employment. The prices are used to calculate inheritance and gift taxes.

Prices climbed in 19 of the 47 prefectures, including Tokyo, which will host the Summer Olympics next year, compared with 18 in the 2017 calender year, the data showed.

However, prices dropped in 27 prefectures and remained flat in Hyogo.

The survey covered about 329,000 sites for calculation of inheritance and gift taxes for 2019.

By prefecture, Okinawa saw the steepest rise of 8.3 percent backed by robust demand for tourism centered on Naha, followed by Tokyo at 4.9 percent and Miyagi, where redevelopment projects have been implemented around Sendai Station, at 4.4 percent.

Land prices in Ishikawa and Oita prefectures rose for the first time in 27 years but stayed flat in 13 prefectural capitals. Tottori was the only capital to see a decline, of 4.5 percent.

The plot in front of the Kyukyodo stationery store in Tokyo’s Ginza shopping district was estimated to be worth a record ¥45.6 million per square meter, making it the most expensive piece of land in the country for the 34th straight year.

News On Japan
POPULAR NEWS

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS
         

MORE Society NEWS

Japan's rapidly aging population is facing a growing crisis of elderly people dying alone at home, with grieving families sometimes unable to see their loved ones before burial and landlords increasingly forced to shoulder substantial cleanup and estate clearance costs when relatives abandon their inheritance.

Traditional Japanese crafts are finding an unexpected source of skilled workers in prisons across the country, where inmates are learning painstaking production techniques that build patience and concentration while helping preserve industries struggling with a shortage of craftspeople.

A Japanese woman in her 20s was found dead at an apartment complex in Cheonan, central South Korea, on October 29th, prompting police to detain a South Korean man in his 30s on suspicion of murder after he allegedly confessed to killing her because he had decided to commit suicide following stock market losses but could not bring himself to die alone.

Emperor Naruhito and Empress Masako hosted the annual autumn garden party at the Akasaka Imperial Gardens in Tokyo on October 29, welcoming approximately 1,400 guests, including actor Kotaro Yoshida and novelist Miyuki Miyabe, while female members of the Imperial Family attended in traditional Japanese attire.

A 59-year-old water sports rental shop owner in Omachi, Nagano Prefecture, has received a letter of appreciation from police after rescuing a paraglider who plunged into a lake on September 21, pulling the unconscious man from the water and performing CPR after discovering he was no longer breathing.

A married couple in Aira, Kagoshima Prefecture, have been arrested after police discovered cannabis plants growing in pots on the terrace of their home during a search connected to a separate investigation, authorities said on October 28th.

A woman in her 80s was killed after her car entered railway tracks on the Odakyu Enoshima Line in Fujisawa, Kanagawa Prefecture, shortly before 10:30 p.m. on October 27, with security camera footage showing the vehicle traveling along the tracks, passing an oncoming train and stopping with its hazard lights flashing before being struck from behind by another train.

A teenage male was rushed to a hospital after suffering an electric shock while putting away a motorized basketball hoop at a gymnasium in Kitakyushu, Fukuoka Prefecture, in an accident believed to have been caused by an incompatible extension cord, according to a report on October 27th.