Japan’s average residential land price rises for 1st time in 31 years

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Kyodo News

The average price of residential land in Japan as of July 1 rose 0.1 percent from the previous year, increasing for the first time in 31 years, as the country’s economy recovers from the coronavirus pandemic, government data showed Tuesday. The average commercial and overall land prices climbed 0.5 percent and 0.3 percent, respectively, both rebounding for the first time in three years, also reflecting growing demand bolstered by low interest rates that have created a favorable lending environment. “As economic activities normalize, the trend of recovery in land prices has taken place across t…

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