Thursday, March 18th, 2010
The Japan’s Ministry of Land, Infrastracture, Transport, and Tourism has just announced that land prices across the nation have fallen for two consecutive years by 4.2% for residential land and by 6.1% for commercial land.
The ministry surveys over 27,000 locations to evaluate land values in Japan as at January 1st and announces the results in March every year. This year, 27,804 benchmark locations across Japan have been surveyed; and it has turned out that almost all of the locations have decreased in value, except for 7 locations.
It looks that Japan is becoming more affordable for international buyers.
Minato Asset Management
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