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Tokyo Marks First Gain in Land Prices in 15 Years

3, 24. 2006

Tokyo’s commercial land prices rose for the first time in 15 years, according to the official land prices announced on Mar. 23 by the Land, Infrastructure and Transport Ministry. The government survey, as of Jan. 1, says Osaka and Nagoya urban areas also marked first gain in the value of commercial land in 15 years.

The Tokyo metropolis increased by 1.4% in average land prices. As for Tokyo’s central 23 wards, most of the surveyed lands including commercial and residential areas, increased in price, clarifying the recovery trend in urban areas. However, nationwide land prices fell by 2.7%, obviously polarizing urban and rural areas.

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