Tokyo, Sep 17 (IANS) The average overall price of land in Japan as of July 1 rose 1.4 per cent from the previous year, marking the third consecutive year of advance, government data showed Tuesday.
The prices for commercial land climbed 2.4 per cent and those for residential land 0.9 per cent, both advancing for the third straight year and at the sharpest pace since 1992, when land prices tumbled as the country’s asset-inflated bubble burst, according to a report released by the Ministry of Land, Infrastructure, Transport and Tourism.
In Japan’s three largest metropolitan areas of Tokyo, Nagoya and Osaka, residential land prices have risen for three consecutive years and commercial land prices for 12 years, the report said, Xinhua news agency reported.
Regional land prices also rose for the second year in a row, with residential land prices up 0.1 per cent and commercial land prices up 0.9 per cent.
Meanwhile, the report showed a significant decline in land prices in affected areas following an earthquake that struck Japan’s Noto region on New Year’s Day. The 10 locations with the largest decline in residential land prices were all in Ishikawa prefecture, according to the report.
Prefectural governments surveyed the prices for 21,436 benchmark locations nationwide, and the land ministry compiled the statistics.
–IANS
as/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.