Price of plot of land in Tokyo hits 22-year high

Tokyo

JAPAN'S priciest plot of land hit a 22-year high even as nationwide prices notched a seven-year slide, widening the divide between major cities and the outlying regions, a government survey showed on Wednesday.

A block in Tokyo's Ginza district containing the posh Kyukyodo stationery shop rose 14 per cent last year to 27 million yen (S$296,000) a square metre, the highest for any plot in Japan since 1993, the survey by the National Tax Agency showed.