Key facts
- Japanese land prices rose 1.5% in the year to July 1.
- This marks the fifth consecutive year of gains.
- The current pace of growth is the strongest since 1991.
- Average land prices in Tokyo, Osaka, and Nagoya metropolitan areas rose 4.4%.
Japanese land prices increased by 1.5% in the year to July 1, marking the fifth consecutive year of gains and the strongest pace of growth since the country's asset-price bubble burst more than three decades ago. The data, released on Tuesday, indicates that Japan's land market is being supported by a gradual economic recovery, with both residential and commercial property prices rising across most of the country.