Reported about 1 year ago
Japan's land prices rose by 2.3% in 2023, the fastest pace since 2010 according to the tax agency. This marks the third consecutive year of price increases, driven by strong demand for both housing and commercial land. Fukuoka prefecture saw the largest rise at 5.8% due to redevelopment projects boosting office demand and increased tourism supporting the demand for hotels and restaurants. Tokyo's Ginza maintained its position as Japan's most expensive location, with land prices climbing by 3.6% to 44.2 million yen per square meter. The nation's tourism industry also experienced a rebound, with over 3 million visitors in May and a record pace for inbound tourism.
Source: YAHOO