Japan has 98,000 hectares of unused farmland
According to the Ministry of Agriculture, Forestry and Fisheries (MAFF), a total of 97,814 hectares of farmland was sitting idle and unused across Japan in 2018, down 700 hectares from 2017 but the third year in a row to be around the 100,000 hectare range.
House in Minami Aoyama sells for 3.8 billion Yen
Apparel company Onward Holdings has sold a company-owned house in Minami Aoyama for 3.81 billion Yen (approx. 36 million USD). The buyer was developer Tokyu Land.
Shangri-La buys land next to Nijo Castle
Good news coming out of Kyoto last week with word that Shangri-La Group has acquired a large development site on the northern side of Nijo Castle in Kyoto. The 4,700 sqm site is about 90 meters west of our restored machiya townhouse.
Rosenka land values increase for 4th year in a row
The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
Buying a mountain in Japan
Generally speaking, whether you are Japanese or a foreigner, it is possible to buy and own mountainside forest in Japan.
70% of Japan is forest. According to the Forestry Agency, 40% of that is national forest, with the remaining 60% owned by private individuals and companies.
Foreigners buy 373 hectares of forestry in 2018
In 2018, foreign funds purchased 373 hectares of forestry across Japan. According to the Ministry of Agriculture, Forestry and Fisheries (MAFF), there were 30 acquisitions made across seven prefectures.