Record land prices in Japan to fall in next few years: analysts

Tokyo

LAND prices in Tokyo's central Chuo ward, home to the famous Ginza shopping district, have jumped by 51 per cent in four years. In Osaka, they are up by nearly half.

Booming construction of hotels, office buildings, shopping centres and apartments, financed by record lending for real estate by Japanese banks, has driven the gains. Now, some investors surveying Japan's property market are anticipating price corrections.

Satoshi Horino, president of Mori Trust Asset Management Co, said he is hea…