Japan's average land prices rise for 1st time in 27 years

By Kaori Kaneko

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Land prices are a key indicator to gauge how much Japan asset prices have recovered after decades of deflation.

The price of land has gone up because the cost of construction has gone up due to not enough contractors, it is a bubble.

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Land prices, especially in the country, should drop drastically. The population is decreasing, after all.

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"......“Land prices are recovering steadily and gradually,” a ministry official said.

He said that recovery in wages and employment as well as low interest rates aided the recovery....."*

Now that's as Big a Spin by bureau-speak that you are ever likely to hear.

A few tourist rural hotspots and big metropolises showing increase is NOT a recovery, borne by the fact that averaged out over the whole country it amounts to 0.7%.

The tens and tens of millions of ordinary citizens who don't live in Kutchan or Ginza and the like, are NOT seeing wage rises or the value of their real estate rising.

Japan certainly is a gathering of multi-verses with worm-holes harder and harder to find.

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Hard to get a decent new apartment in Osaka city unless you are willing to pay upwards of 50 million yen.

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Who wrote this?

countryside is cheap, but cities...about 25%in 2 years.

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What about Osaka, Nagoya etc?

A one per cent rise in Tokyo after decades of no growth is laughable!

16 years ago I invested in property and at present I am looking at a 100% gain.

Year-to-date I have seen a healthy 5% rise.

This artlcle is farcical.

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It’s all relative; how you play with the numbers.

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BTW, funny how this ‘good news’ suddenly happens on Election Day, as if the PM had anything to do with a successful economy. The three arrows never added up to much. The only thing buoying the economy is foreign tourism. The PM spent years fighting anything related to foreigners in Japan until one day suddenly the only bright light in his career were tourists. Welcome to Japan.

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The figures in the article are referring to the Standard Land Prices and do not reflect actual land price increases in Japan. It is more of a government benchmark that can be used to understand or predict trends.

This article does a better job to explain what these figures mean in relation to actual land/real estate prices.

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A one per cent rise in Tokyo after decades of no growth is laughable!

I come from one of the least affordable places on earth, a city where teachers, nurses and other essential workers don't earn enough salary to house their families without incurring a lifetime of debt, because newly arrived foreign multi-millionaires have jacked up prices and occupy a disproportionate amount of the best land.

So, yeah, I'm pretty happy the price of Tokyo real estate is NOT getting more and more expensive.

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That is understandable but consider those millions of Japanese still in negative equity after decades.

That is a hard pill to shallow....

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