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Residential land prices in Japan rise for the first time in 31 years

TOKYO, Sep 21 (NHK) - Japan's land ministry says the average price of residential land in the country has risen for the first time in 31 years.

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The ministry on Tuesday released results of an annual survey done by prefectures on land prices at over 21,400 locations as of July 1.

It showed that the average overall land price rose 0.3 percent from last year. It was the first year-on-year increase in three years.

As for the average price of residential land, it grew 0.1 percent from a year ago, marking the first rise since 1991. Low interest rates for loans have apparently helped to push up land prices.

Residential land prices in Tokyo and Nagoya rose for the second year in a row. They went up in Osaka for the first time in three years. ...continue reading

Source: 日テレNEWS

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