Japan’s land prices rose at their fastest pace in 34 years in 2024 with a recovery spreading to regional areas thanks to sustained economic growth, in the latest sign of a pickup in the property market, a government survey showed on Tuesday.
Average nationwide land prices, across residential and commercial plots, grew 2.7% as of Jan. 1 for the fourth straight year of gains, the land ministry survey showed.
It was the fastest pace since 1991, before land prices began a long decline in the wake of the bursting of the asset “bubble.”