Land purchases in tsunami-affected prefectures to be monitored

An old Tsunami street sign reminds residents of the height of the last Sanriku Tsunami in 1933. The March 11 Tsunami went further inland than the above sign.

The Ministry of Land, Infrastructure, Transport and Tourism announced on August 1 that plans have been made to monitor land transactions made in tsunami-affected prefectures in Northern Japan. From now on, experts are predicting a sudden jump in prices for elevated land in the disaster-stricken areas, so the three affected Prefectures of Iwate, Miyagi and Fukushima will be monitoring and sharing the data of land transactions.

As the coastal areas that were devastated by the March tsunami move towards rebuilding, there is growing fear that the elevated tracts of land that escaped the tsunami will see steep price rises as real estate companies and developers seek to buy up the land.Read more

by Zoe Ward