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Mix-Ansicht- Japan: Land Prices Fall 6.5% Nationwide, 10th Straight Year Of Decline - El Sheik, 02.08.2002, 07:46
Japan: Land Prices Fall 6.5% Nationwide, 10th Straight Year Of Decline
Die Deflation geht weiter. Aus: Nihon Keizai Shimbun
Gruß
El Sheik
Friday, August 2, 2002
Land Prices Fall 6.5% Nationwide, 10th Straight Year Of Decline
TOKYO (Nikkei)--Prices of 400,000 plots of land nationwide used to calculate inheritance and gift taxes averaged 129,000 yen per sq. meter as of Jan. 1, down 6.5% from a year earlier, the National Tax Administration announced on Friday.
This marks a decade of year-on-year decrease and a steeper rate of decline for the first time in three years.
Land prices in central Tokyo and Osaka city, however, either rose or showed a slower rate of decline due to urban development projects and openings of popular brand shops.
In contrast, areas where large commercial facilities were shut down saw a faster rate of decline, showing that land prices are becoming polarized.
Average land prices in all 47 prefectures fell. The number of prefectures with a slower downward rate fell to 10 from 20, while 34 prefectures saw the pace accelerate, up from 24 a year earlier. The rate of decline in the remaining three prefectures remained unchanged, the same number as in 2001.
Among prefectural capitals, the highest land price was for the center of the Ginza area, central Tokyo for the 17th straight year. Land prices in the Ginza area went up by 1.4%, rising for the second year in a row.
Osaka, Nagoya and other major cities saw the downward trend decelerate.
The rate of decline in the Tokyo and Osaka metropolitan areas slowed by 0.5 and 0.4 percentage points, respectively, while the Nagoya metropolitan area saw the pace increase.
(The Nihon Keizai Shimbun Friday evening edition)
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