Land prices continue to fall in Japan amid pandemic

Published by
Kyodo News

The average price of land in Japan as of July 1 fell 0.4 percent from the previous year for the second consecutive year of declines amid the prolonged coronavirus pandemic, government data showed Tuesday. But the margin of decline narrowed from 0.6 percent 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 Japan’s three largest metropolitan areas — Tokyo, Osaka and Nagoya — the…

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