Latest news with #landprice
NHK
2 days ago
- Business
- NHK
Tokyo commuters, inbound tourists drive land price gains
Demand from inbound tourists and Tokyo commuters drove the five biggest year-on-year land-price increases in Japan. The ski resort village of Hakuba in Nagano Prefecture posted a 32.4 percent annual increase as of January 1, the fastest gain nationwide. Prices in Furano City, Hokkaido, jumped 30.2 percent, the second steepest leap. The average for the Asakusa district of Tokyo's Taito Ward rose 29 percent, while the city of Takayama, Gifu Prefecture, climbed 28.3 percent. Both are popular among tourists. The Senju area in Adachi Ward, Tokyo, came in fifth place with an annual growth of 26 percent. The area has a railway station that provides access to central Tokyo.
NHK
2 days ago
- Business
- NHK
Japan land prices gain for 4th consecutive year
The average price of land in Japan has gone up for the fourth straight year. The year-on-year increase was the largest since 2010 in percentage terms. The National Tax Agency on Tuesday announced new numbers used to calculate land taxes. It says that as of January 1, the price of land along major streets at about 320,000 locations was up 2.7 percent from the year prior. The rise has been seen in 35 of the country's 47 prefectures. The highest rate of increase was 8.1 percent in Tokyo, followed by 6.3 percent in Okinawa Prefecture and 6 percent in Fukuoka Prefecture. Ginza Chuo Street in Tokyo's Ginza district marked the highest land price in the country for the 40th year in a row. The price marks 48.08 million yen, or about 333,600 dollars, per square meter. The agency says the price increase is attributed to a boom in inbound tourism pushing up the construction of accommodation facilities in tourist sites, and a growing housing demand. But the land price of Asaichidori in Wajima City, Ishikawa Prefecture, reflect the impact of a major earthquake that hit the Noto Peninsula on New Year's Day in 2024. Land values there dropped 16.7 percent, the sharpest decline rate in the country.
