Japan's land prices fell for second straight year amid pandemic

Sep 22, 2021 | News On Japan

Sep 22, 2021 (Japan Times) - The average price of land in Japan as of July 1 has fallen 0.4% since a year earlier, for the second consecutive year of declines amid the prolonged COVID-19 pandemic, government data showed Tuesday.

The margin of decline narrowed from 0.6% last year, with demand for residential land slightly improving.

Reflecting a drop in demand for hotels and shops due to the pandemic, prices of commercial land decreased, according to the data released by the Ministry of Land, Infrastructure, Transport and Tourism.

In the nation’s three largest metropolitan areas — Tokyo, Osaka and Nagoya — the average land price edged up 0.1%, while that of the Osaka area only saw declines.

The survey covered average prices for all types of land nationwide, including commercial, residential and industrial, based on the value of 21,443 sites across the country.

A ministry official said land prices would bounce back from the fall only after COVID-19 subsides and people return to the streets. “We will monitor the influence” of the pandemic, the official said.

The average price of commercial land dropped 0.5% from a year earlier, a sharper decrease than 0.3% recorded last year, and 41 of the country’s 47 prefectures saw declines, compared with 36 prefectures in the previous year.

Typhoon No. 13 Approaches Okinawa

Large and strong Typhoon No. 13 was about 350 kilometers east of Minami-Daito Island as of 5 a.m. on August 6, with severe winds, torrential rain and high waves expected to spread from the Daito Islands to Okinawa's main island and the Amami region while raising the risk of landslides in earthquake-hit Kumamoto Prefecture.

Japan Moves to Slash Food Consumption Tax

Prime Minister Sanae Takaichi’s government formally approved a plan on August 5 to reduce the consumption tax rate on food and nonalcoholic beverages from 8% to 1% for two years beginning in April 2027, setting the stage for a difficult parliamentary battle over how to cover an estimated 10 trillion yen revenue shortfall and whether the politically sensitive tax can be restored afterward.

Supermarket Becomes Lifeline for Quake-Stricken Kumamoto

Nine days after the Kumamoto earthquake, a supermarket in Hikawa, where the strongest seismic intensity of 7 was recorded, is moving toward reopening while providing free groundwater to residents as about 3,200 households remain without running water.

Japan Plans Stricter Permanent Residency Rules for Foreign Nationals

Japan's Immigration Services Agency on August 4 released draft guidelines that would tighten the requirements for foreign nationals seeking permanent residency, including new income and pension standards designed to ensure applicants have economic conditions equal to or better than those of Japanese people.

Haneda Airport Tightens Baggage Check-In Rules

Six airlines, including All Nippon Airways, Japan Airlines and Air Do, will move the baggage check-in deadline for domestic flights at Haneda Airport to 30 minutes before departure from September 1.

MEDIA CHANNELS

MORE Society NEWS

Knife-Wielding Man Dies After Police Shooting

A knife-wielding man died after a police sergeant shot him in the chest on a street in Kawachinagano, Osaka Prefecture, after he continued advancing toward five officers despite repeated warnings and a warning shot fired into the air.

High School Girl Injured in Pencil Attack

A 41-year-old man was arrested on suspicion of attempted murder after allegedly stabbing a 16-year-old high school girl in the neck with a mechanical pencil at a store in Hakodate, Hokkaido, around noon on August 4.

Nurse Indicted for Murder Over Feces Injection

A former nurse has been indicted on a murder charge for allegedly killing a 75-year-old hospital patient by injecting fecal matter into his intravenous drip at a hospital in Kashiwa, Chiba Prefecture.

Questions Mount Over Why Employees Reentered Mall Before Explosion

The operators of cosmetics and apparel stores at Aeon Mall Kumamoto disclosed new details on August 4 about how five employees who had initially evacuated the building later returned inside before being killed in an explosion following the earthquake.

Six Boys Arrested for Allegedly Throwing Raw Eggs at Police

Six boys aged 15 and 16 have been arrested on suspicion of obstructing official duties after allegedly riding motorized bicycles and throwing raw eggs at police officers in Kasugai, Aichi Prefecture.

Kyoto Prison Officer Indicted Over Alleged 200,000-Yen Bribery Deal

A correctional officer at Kyoto Prison has been indicted on suspicion of agreeing to accept 200,000 yen from three inmates in return for providing them with unspecified favors, raising concerns about staff-inmate relations one year after Japan introduced its new imprisonment system focused on rehabilitation.

Security Camera Captures Dramatic Train-Truck Collision

A Tokyu train struck a truck that had been forced onto the tracks by a road collision in Yokohama on the morning of August 4, temporarily suspending all services on the Kodomonokuni Line, although none of the roughly 100 passengers and crew aboard the train were injured.

Aeon Mall Explosion a 'Man-Made Disaster'

The family of a 22-year-old cosmetics store employee killed in the explosion at Aeon Mall Kumamoto said she had safely evacuated after the powerful earthquake but returned to the building under instructions from her company, calling her death a "man-made disaster."

< 2 3 4 5 >