According to the "Prefectural Land Price Survey," which surveyed land prices nationwide, the national average land price of residential areas increased by 0.1% compared to last year, turning positive for the first time in 31 years.
The national average for commercial land increased by 0.5%, the first positive in three years, and demand for land, which has fallen due to the effects of the new coronavirus, is recovering nationwide.
The "Prefectural Land Price Survey" is a survey conducted by prefectures on land prices nationwide as of July 1 every year.
According to this, the national average of land prices rose by 0.3% compared to last year, marking the first positive increase in three years.
By use, the national average for residential land increased by 0.1% compared to last year, turning positive for the first time in 31 years since 1991, when land prices rose in the so-called bubble economy.
This is due to the continuing environment in which funds can be raised at low interest rates, and the nationwide recovery in demand for land, which has fallen due to the impact of the new coronavirus.
Looking at residential areas by area, among the three major metropolitan areas, Tokyo and Nagoya increased for the second consecutive year, and Osaka also turned positive for the first time in three years.
Local areas fell 0.2% from last year, but the negative margin narrowed by 0.5 points.
In addition to the strong demand for housing in highly convenient urban centers, the need for housing in the suburbs is expanding due to the spread of remote work.
In addition, the national average for commercial land increased by 0.5% from last year, turning positive for the first time in three years.
The three major metropolitan areas all rose, and the rural areas fell 0.1%, but the negative margin narrowed by 0.6 points from last year.
As tourism demand, which had been sluggish due to the corona crisis, has recovered, the rise in land prices in tourist areas and downtown areas is noticeable, raising expectations for the resumption of economic activities and an increase in the flow of people in the future. You can also see that