Japan Chemical Trading Blog
Rise in Land Prices in Tokyo
According to an announcement made by the Tokyo Metropolitan Government, a survey conducted on January 1, 2014 revealed that land prices in Tokyo rose an average of 1.7% from the previous year (on a yen basis). It is the first rise in the past 6 years.
The rise can be attributed to several factors including improvement in business sentiment since the start of the Abe Administration, Tokyo being selected as the host city for the 2020 Olympic Games, and increased construction demand due to post-earthquake disaster reconstruction.
To sustain the rising trend, the regrowth of Japan’s economy is essential.