Japan land prices rebound after marking 1st fall in 6 years

What I've never understood about commercial real estate in general is, how is it that with land prices at a half-million dollars per square meter, can the Family Mart right in the Ginza still sell onigiri for ¥148, etc.?

Onigiri sales brings the customer into the store to buy other items. Onigiri is a tool to upsell.

Every time I read about falling land prices I get very confused.

The way it works it the country side in the middle of nowhere is quickly depopulating and no one wants to live or buy land in these places.

We got lucky bought a place in Tokyo December 2019 just before covid crisis started.

Best move ever, more room lower monthly cost especially since everyone ended up working from home.

But since we moved in we have had nothing but one offer after another from actual buyers wanting to purchase our place at a considerably higher price than we paid.

Sounds great, right?

No, because there is nothing comparable in the area that we could buy even at the higher price we are being offered!

At least in the North East part of Tokyo we are in land a house prices are through the roof.

Last night out for my walk o saw a house 120 square metres floor space, ¥48 million but the land is a lease with 20 years Only left.

So for ¥48 million you get a house on someone else's land for 20 years.

That is crazy.

I think calling a 0.5% rise a "rebound" is a tad optimistic.....

is this newsworthy?

if yes-why?

Yes. Because many readers here own, or are looking to buy or sell land - and this directly affects them. If this isn't newsworthy, makes me wonder what you consider is newsworthy.

I know a foreigner who didn't realize the land he owned was leasehold and not freehold, he has about 18 years left and is desperately seeking a buyer.

@Zoroto it certainly exists in Britain.

Because many readers here own, or are looking to buy or sell land

No offense, but I extremely seriously doubt that...

All the people I know must be rare exceptions then - a statistical anomaly. Where are all these landless JT readers you speak of? (Aside from short-term residents.)

Yes, in most Western countries there is no such thing as "leasehold." It seems to be an Asian thing.

It's common in the UK.

Don't forget you have the right to negotiate a new lease.

@Ego Sum Lux Mundi WOW!! I think that foreigner should talk to the realtor about that issue, especially if he said he didn't know the land was owned when he purchased it.

I know a foreigner who didn't realize the land he owned