Japan's 2015 commercial land prices increase for first time in 8 years

Tokyo

JAPAN'S nationwide commercial land prices rose for the first time in eight years in 2015, driven by expectations that growing demand for hotel and retail spaces would boost property values, a government survey showed.

Prices rose 0.9 per cent last year after staying flat in 2014, according to the annual survey by the Ministry of Land, Infrastructure, Transport and Tourism.