Japan's average land price rises for fifth straight year
The average land price in Japan as of Jan. 1 rose 2.8% from a year earlier, up for the fifth straight year, the land ministry said Tuesday.The growth, up from the previous year's 2.7%, reflected a gradual economic recovery, as well as growing demand for condominiums in large cities such as Tokyo.For residential areas, the nationwide average land price climbed 2.1%, virtually unchanged from the year before. The country's three largest urban areas around Tokyo, Osaka and Nagoya recorded a price increase of 3.5%.
