Avergae Japan land prices still down, but Tokyo up for first time in 15 years
Mainichi Shimbun : Land prices in Tokyo turn upward for 1st time since late '80s
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Originally Posted by Mainichi
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The average rosenka price came to 112,000 yen per square meter in fiscal 2005, down 3.4 percent from the year earlier and the 13th consecutive yearly decline. However, the rate of decline was down 1.6 percentage points from the previous year.
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In the capital, the average rosenka rose a moderate 0.4 percent from last fiscal year to 458,000 yen, demonstrating that land transactions have become increasingly active in urban areas due to economic recovery.
For the 20th consecutive year, land in the Ginza Chuo-dori district of Tokyo's Chuo-ku was the most expensive of all 410,000 locations across the country.
Land in Nagoya's Nakamura-ku and Fukuoka's Chuo-ku also rose for the second straight year. In particular, rosenka in Nakamura-ku rose 9.3 percent, up 7.8 points from the year earlier, aided by the construction of large-scale buildings.
Land prices in Yokohama's Nishi-ku, Osaka's Kita-ku and Shimogyo-ku in the ancient capital of Kyoto also turned upward.
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In total, rosenka in six cities rebounded over the past year, an increase from three cities the year earlier.
So overall, land prices are still decreasing, but prices went up in some wards of a few major cities.
