Japan's 2016 land prices up, led by big gains in cities

Tokyo

LAND prices in major Japanese cities such as Tokyo and Osaka rose in 2016 by more than 10 per cent, lifting nationwide prices for a second year in a row, a government survey showed on Monday.

Japan's average land price increased 0.4 per cent in 2016, a bigger rise than 0.2 per cent in 2015, the National Tax Agency said.