Japan's land prices start to rise (The Japanese Imperial Palace more expensive than CA?).

BBC ^ | Thursday, March 23, 2007 | n/a

[Jedi Master Pikachu]

Tokyo's Imperial Palace was valued higher than California in the 1980s

Japan's land prices have risen for the first time in 16 years, in a further sign that the world's second-largest economy is continuing to recover.

Since 1990, land prices have been sliding following the bursting of the asset price bubble.

However, government figures showed that nationwide land prices rose by 0.1% last year with commercial land prices increasing by 2.3%.

Strong price increases in commercial areas in major cities drove the gains.

1990s peak

The major metropolitan areas of Tokyo, Nagoya and Osaka each saw significant increases.

Commercial land prices in these big cities rose by 8.9% on average, led by a 9.4% average rise in Tokyo.

"The rise was definitely positive for the economy because it will eventually help boost consumption," said Bank of America economist Tomoko Fujii.

The Japanese property bubble burst following rises in interest rates in the early 1990s.

Non-residential property prices slid by as much as 20% in 1993 and continued to decline throughout the 1990s.

A price survey by the National Tax Agency showed Japan's property prices began to recover in 2005.

Japan's residential land prices are still on average half of what they were at their 1990 peak, the survey showed.

[SevenofNine]

Yeah your home be expensive too if you have certain fire breathing Lizard always smash your city all the time

[Jedi Master Pikachu]

Asia pinglist

If you want on or off the list, go to the link for instructions. Otherwise, it won't be guaranteed that you will be put on or taken off (it still won't be 100% guaranteed, anyway, but will be much more highly probable).

[Enchante]

"Tokyo's Imperial Palace was valued higher than California in the 1980s"

Let's propose a trade - they can have California, so long as they promise to take Barbara Boxer and all of the other nitwits in the deal!!

[Jedi Master Pikachu]

"The Japanese Imperial Palace, more expensive than CA?"

There. Is that what you were referring to?

[ARE SOLE]

Japan's land prices have risen for the first time in 16 years, in a further sign that the world's second-largest economy is continuing to recover.

Must be their Guest worker program kicking in.

Regards.

[Libertarianize the GOP]

Can land prices have a large upside in a society where the population is declining, fewer people equals less demand for housing or office space?

[Jedi Master Pikachu]

You bring up a point there.

However, a lot of Japanese don't own their own land. If prices are going up, it could be because their is more demand for land ownership, because individual Japanese are getting richer, even if the overall population is decreasing.

[struggle]

My father-in-law lived catty-corner from Gosho (the old Imperial Palace) in Kyoto until just recently. I hope he made bank on that place when he sold it.

[Cheburashka]

Yeah your home be expensive too if you have certain fire breathing Lizard always smash your city all the time
---
I don't know, I would consider a building in a fire-breathing lizard zone to be equivalent to a building in a flood plain, hence the value would be impaired.

[SevenofNine]

That true

Godzilla screw up Japanese real estate market no wonder it so expensive LMAO