TOKYO, March 18 (Xinhua) -- Land prices across Japan have continued to rise on strong urban and resort demand, government data showed Tuesday.
As of January 2025, land prices across Japan increased by an average of 2.7 percent compared to the previous year, marking the fourth consecutive year of growth, according to the Ministry of Land, Infrastructure, Transport, and Tourism.
The rate of increase expanded from last year, with strong price growth in central Tokyo and Osaka, as well as in resort areas with high demand for vacation homes from foreign buyers.
Experts attributed the rising land prices to Japan's gradual economic recovery and an influx of foreign investment and tourism, with the trend not only affecting major metropolitan areas but spreading nationwide.
The average price of residential land rose by 2.1 percent year-on-year, with the Tokyo, Osaka, and Nagoya metropolitan areas experiencing a 3.3 percent increase, while regional areas saw a 1.0 percent rise.
Commercial land prices grew by an average of 3.9 percent, also marking a fourth straight year of gains. The major metropolitan areas recorded a sharp 7.1 percent increase, while regional areas saw a 1.6 percent rise.
Meanwhile, demand for commercial land in tourist areas, such as for hotel and retail development, remained strong.
Land prices in the Noto Peninsula, which was affected by last year's earthquake, saw significant declines. Many of the areas with the largest drops in land value were located in the disaster-stricken region, the data showed.
