Land values drop nationwide for second year, but increase in Tokyo

Japan’s Standard Land Prices were announced yesterday by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The national average dropped by 0.4% from last year. This is the second year in a row to see a decline, but it is a slight improvement from last year’s 0.6% drop. The nationwide average has been in the negative for 27 of the past 30 years.

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Osaka Metro loses millions on minpaku mansion

Osaka Metro Co., Ltd., the operator of Osaka’s metro transit system, has reportedly sold a ‘minpaku’-style short-term letting building at a loss. The apartment building was purchased in 2019 with the goal of opening it to foreign tourists from February 2021, but those plans have been abandoned due to the ongoing international travel bans.

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