Japan?s Major Cities Post Land-Price Gains as Deals Rise

Land prices in  Japan?s three largest cities rose for the first time in five years, signaling a property-market recovery in the world?s third-largest economy.

The average price of land in Tokyo,  Osaka  and Nagoya gained 0.1 percent as of July 1, compared with a 1 percent drop a year earlier, the  Ministry of Land, Infrastructure, Transport and Tourism said in a  report  released yesterday. The gain was the first since 2008 when it climbed 1.7 percent. The decline in land prices, which have been falling for 22 years, narrowed to 1.9 percent, the slowest pace in five years.

http://www.bloomberg.com/news/2013-09-19/japan-s-major-cities-post-land-price-gains-as-transactions-rise.html

 

 

 

 

 

 

[TOKYO] Japan's land prices fell the least since the global financial crisis in the year to July 1, while commercial land in the three biggest cities rose in value for the first time in the same period, the latest signs that deflation is easing its stubborn grip on the country.

Land prices nationwide fell 1.9 per cent, narrowing from the previous year's 2.7 per cent decline and the smallest drop since 2008, a government survey showed on Thursday.

This brings Japan closer to ending 22 years of falling land prices - a legacy of the country's massive 1980s asset bubble.

The gradual narrowing of land-price declines is good news for Prime Minister Shinzo Abe, whose top priority is ending Japan's long battle with deflation and spurring sustained growth.