Growth Slows in Land Prices around Chip Plants in Japan
Tokyo, Sept. 16 (Jiji Press)--Growth in the prices of residential and commercial land around semiconductor plants in Japan as of July 1 decelerated from a year before, data from the land ministry have shown. Apparently behind the slower growth are factors such as soaring construction costs and oversupply of housing. Still, the pace of growth in industrial land prices is accelerating as d...
Tokyo, September 16 - The pace of growth in land prices surrounding semiconductor plants in Japan decelerated from the previous year, according to data released by the land ministry on Tuesday. Reasons for the slower growth include rising construction costs and a surplus of housing, though the speed of growth in industrial land prices is accelerating due to persistent demand for semiconductors.
In the northernmost city of Chitose in Hokkaido, the growth in the price of residential land near Chitose Station, operated by JR Hokkaido, slowed to 15.4% per square meter. This is a significant decrease from the 23.2% growth rate a year earlier. The decline in land prices is attributed to soaring housing costs, which have prompted some residents to relocate to neighboring municipalities like Eniwa, where housing is more affordable. This trend also affected the commercial land market.
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