On January 13th, 2011, Mitsui Fudosan announced the 2010 residential price movements. Prices in Tokyo rose 1.0% in 2010, compared with a 4.5% decline in 2009 after the Lehman Shock. This is the first increase since 2007. An improvement in economic conditions as well as the expansion in mortgage tax reductions were cited as reasons for the increase. For Tokyo's 23 Wards, the price increase was 1.9%. In Yokohama and Kawasaki, the prices increased by 0.4%.
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