Average land price in Japan rises for first time since pre-pandemic – government

“Last year’s decline was due to the overwhelming impact of the epidemic, and this time land prices have recovered from there, ” an official from the Ministry of Industry and Information Technology said at a media briefing. Residential land prices fell compared to the previous period year, only a slight increase of 0.1% this months to July 1, the survey showed, after a 0.5% drop in the previous year. Japan’s aging population and recession have led to a long-term decline in the value of residential land. Commodity housing prices rose faster, up 0.5%, reversing 0.5%, as Japan gave up control of the epidemic, retail demand recovery, leading to a decline from the previous year.

The data to400 showed that commercial land prices accelerated, driven by stimulative central bank monetary policy and economic boom, hotel construction to cater to growing foreign tourists. but strictly COVID- Partially relaxed in June Border controls effectively bar tourists from entering the country. only31, Foreigners who visited last year, yes

0.8% .

As the yen almost fell against the U.S. dollar this year, as officials signaled further easing of border controls to boost the number of foreign tourists.

Some popular tourist locations are in months Thanks for returning dom estic visitors through July 1st. But officials from the Ministry of Land, Infrastructure, Transport and Tourism said prices continued to fall in areas that rely heavily on foreign tourists, such as central Osaka.

Tuesday’s data also showed a 1.7% increase in the value of industrial land. This is the fifth year of price growth, driven by strong demand for online commercial warehouse space. among 000,21 Survey Site, Southwestern Kumamoto Prefecture The land price in the industrial area increased the most, 000.6 %, thanks to TSMC for building a factory nearby.

and partners 500431 Sony (NYSE:

Sony ) The group and Denso Corporation, the world’s largest chip foundry manufacturer TSMC, are building their first Japanese factory in Kumamoto. “A wave of semiconductor-related companies and logistics operators are doing business there (Kumamoto),” the Ministry of Land and Resources official said, adding that the project It has also stimulated residential and commercial real estate values ​​in adjacent areas. 31