Land prices in major cities nationwide last month were flat or declining in more than 80% of the 100 districts surveyed due to the increase in vacancy of offices and stores due to the impact of the new coronavirus, according to the Ministry of Land, Infrastructure, Transport and Tourism. I understand in summary.
The Ministry of Land, Infrastructure, Transport and Tourism examines land prices every three months in 100 residential and commercial areas in major cities across the country where land transactions are active.
As of January 1, land prices were flat in 47 districts and declined in 38 districts compared to three months ago, accounting for more than 80% of the total.
A year ago, a survey conducted in January last year shows that the effects of the new coronavirus are clearer than the rise in land prices in 97 districts.
In particular, the increase in vacancy in offices in central Tokyo and Osaka, and the decline in store profitability have led to a decline in land prices.
On the other hand, in this survey, land prices rose in 15 districts.
In the previous survey three months ago, there was only one rising area, but it is said that there are signs of recovery due to demand for condominium land in the suburbs of the three major metropolitan areas.
According to the Ministry of Land, Infrastructure, Transport and Tourism, "Although some land prices have been on a recovery trend, the trend of land prices has become uncertain due to the impact of the declaration of emergency again from January."