TOKYO, March 22 (Xinhua) — Land costs in Japan rose 1.6 p.c in 2022, marking a second straight annual achieve, information from the Ministry of Land, Infrastructure and Transport confirmed on Wednesday.
In a survey of about 26,000 places nationwide as of Jan. 1, 2023, the common valuation was 1.6 p.c increased than a yr earlier, the largest achieve in 15 years as a free financial coverage and the lifting of COVID-19 restrictions fueled demand for workplaces, condominiums and inns, in accordance with the ministry.
While costs rose probably the most since a 1.7-percent development in 2008, the ministry stated the will increase have unfold past main cities to the nation as an entire.
The determine for the most important conurbations of Tokyo, Osaka and Nagoya rallied 2.1 p.c, whereas costs in 4 regional cities Sapporo, Sendai, Hiroshima and Fukuoka, jumped 8.5 p.c, pushed by a collection of redevelopment tasks.
Land costs had been flagging as a result of affect of the COVID-19 pandemic, however now they’re rising amid a average financial restoration, the ministry famous.