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19.03.2019 16:25

Japan's 2018 commercial land prices rise at fastest pace in 11 years

Japanese commercial land prices climbed at their fastest pace in 11 years in 2018, led by strong demand for office space and a boom in tourism, a government survey showed.

Prices for land across the country's main centres rose 2.8 percent on average last year, according to the Ministry of Land, Infrastructure, Transport and Tourism.

National average commercial land price growth was the fastest since 2007, when prices rose 3.8 percent.

The average residential land price rose 0.6 percent last year, according to the ministry's data. The ministry surveyed 26,000 spots nationwide.


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