Japan Land Prices Rise for Fifth Straight Year

Japan's land prices have risen for the fifth consecutive year, with the benchmark land prices increasing by 1.5% nationwide. Commercial land prices saw the strongest growth at 2.9%, driven by demand for hotels and other properties in major cities. The Meidi-Ya Ginza Building in Tokyo's Ginza district remained the most expensive commercial site for the 21st consecutive year, valued at 52.5 million yen per square meter.

In the Tokyo metropolitan area, The House Asakusa in Taito Ward saw the largest increase, with its benchmark land price rising by 26.9%. However, the rate of increase slowed in the Nagoya metropolitan area and other regions.

Brief written by urgent.news from News On Japan's own syndicated text. Machine-written — may contain errors; check the original before relying on it.