Land prices in major cities have fallen or leveled off compared to three months ago Corona impact November 19, 16:47
Land prices in major cities across the country last month, compiled by the Ministry of Land, Infrastructure, Transport and Tourism, were in almost all districts compared to three months ago, as demand for land for hotels and stores fell due to the impact of the new coronavirus. It was flat or fell.
The Ministry of Land, Infrastructure, Transport and Tourism surveys land prices every three months in 100 residential and commercial areas in major cities across the country where land transactions are active.
According to this, land prices as of the 1st of last month were flat in 54 districts compared to 3 months ago.
The number of declines in 45 districts increased by 7 compared to the survey three months ago.
The only district that rose was "Ekimae-dori" in Sapporo.
In the survey as of April, the number of districts where land prices rose was 73, but this time, as in the survey three months ago, almost all districts have leveled off or have fallen.
The main reason for this is that the demand for land for hotels and stores is declining, especially in metropolitan areas such as Tokyo, Osaka, and Nagoya, as the movement to refrain from going out is continuing due to the influence of the new coronavirus. ..
For offices, although the vacancy rate has risen in some areas due to the establishment of telework, there is no significant change in land price trends.
According to the Ministry of Land, Infrastructure, Transport and Tourism, "While the new corona cannot be expected to converge, future trends in land prices are highly uncertain, and the mood of wait-and-see is expanding in land transactions."