Commercial land prices in Japan's big cities on the rise

Tokyo

COMMERCIAL land prices in Japan's three largest metropolitan areas rose 2.3 per cent in the 12 months ended June 30, extending gains as low interest rates spurred property acquisitions, a government survey showed.

Commercial land prices for areas surrounding Tokyo, Osaka and Nagoya rose at a faster pace in that period than the 1.7 per cent increase in the previous one year, according to the Ministry of Land, Infrastructure, Transport and Tourism.