Land price continue to fall in Japan except for Central Tokyo

According to Japanese government land prices fell for the 14th consecutive year in Japan: Residential land prices across Japan decreased an average of 4.6% in 2003, continuing the trend of a 5.7% in 2003. Commercial land prices fell 5.6% continuing the fall of 7.4% in 2002. the pace of decline was reduced this year with major towns in Japan Tokyo, Nagoya, Osaka showing a pace of decline of only 3.2% against 5.8% in 2003 for commercial areas. However, land in the 5 central wards of Tokyo (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) have seen an increase of 0.8%

Eric Perraudin
http://www.japanconsult.com/