Land prices in Japan's big cities rise for first time in six years

After all the years of traveling to Tokyo and ups and downs (mostly downs) in the Japanese economy I've never noticed a redevelopment slowdown in central Tokyo. Commercial and residential towers always seemed to be popping up every time I visited.

Of course land prices will rise after devaluating the currency.

Land prices are still going down outside the major centres, and I guess this is likely to remain the case so long as Japan's population overall is shrinking (e.g. outside the major centers). Decreasing demand and all that.

great!

Of course land prices will rise after devaluating the currency.

102 yen to the buck is "devalued"? LOL. For most of my time in Japan, the rate has been 110 to 140.

who cares about major centres, i hope land price will go double within next 10 years!!!

The property values never go up! Unlike in other countries. In Japan the land is worth more than the home people will rather tear it down and rebuild!

@JeffLee

this is relative yoy, so yes he's correct since it was ~80 a year back

"since it was ~80 a year back"

That was a spike, an unsustained level and an all time record. I, however, am referring to historical norms.

102 yen to the buck is "devalued"?

Yes, because you can't take connected currency values out of the context of each country's economic factors that apply right now. The exchange rate used to be 360 yen to the dollar, which accurately reflected the contrasting economic conditions in the US and Japan at that time. But of course those criteria cannot be applied today. "Historical norms", whatever they may be, in a constantly fluctuating market do not reflect today's true values because currencies contrast against each country's present conditions. Japan's currency has been artificially devalued basically by printing more of it and circulating it as much as possible. If Abe hadn't done that the yen would have sustained its 80-yen value against the dollar until the federal reserve manipulated a stronger dollar or other economic conditions took effect.

"Historical norms, whatever they may be,"

An average range during the past 10 years or so. It's not rocket science.

"Japan's currency has been artificially devalued basically by printing more of it "

No it hasn't. It's not "printed," for one. The yen is issued and swapped for securities with the commercial banks and exists as numbers on balance sheets. That by itself doesn't create inflation or any other monetary distortion. The evidence? Japan has engaged in QE ("money printing") since 2000 and the currency has shot up on numerous occasions, even to record highs, and also gone back down, regardless of how much yen is being issued or whatever monetary actions were being taken.