According to the National Tax Administration of Japan, the average land price throughout the country in 2017 increased by 0.7% compared with an increase of 0.4% in 2016 and 0.2% in 2015, Reuters reports.
The biggest increase was registered in the area of the city of Kobe in western Japan, where the price for land increased by 22.5% to $35,530 per square meter. As well as in the southern city of Kumamoto, with a square meter going up by 22% to $13,600.
In the capital city of Tokyo, the cost of a land plot in the shopping area of Ginza increased by 9.9% to $401,490 per square meter, slowing a growth of 26% last year. Nevertheless, Ginza remains the most expensive area in Japan, maintaining its leadership for the third consecutive years, the agency reports.