The MLIT announced the nationwide standard land prices (kijun-chika) on September 19. These land price surveys are carried out by the prefectural governments each year on July 1.
This year, commercial land prices increased in Tokyo, Osaka and Nagoya for the first time in five years.
Nationwide, the overall land prices were down 1.9%. This is the 22nd year of decline, although the rate has reduced from a 2.7% decline in 2012. The decline is being pulled down by rural or regional area suffering from depopulation, which saw prices drop 2.6% this year. Overall land prices in Japan's three largest cities, however, were up 0.1% after a 1% drop in 2012.
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