Local News

Kyushu Land Price Report: Up in Fukuoka, Down in Kumamoto

According to a quarterly land price report issued by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) on July 1, the national average for commercial land remained steady, ending a nine-year downward trend. In many parts of Japan, an increase in foreign tourists and the Bank of Japan’s low interest rate policy have pushed land prices up, with Fukuoka Prefecture recording the first uptick in commercial land prices in 24 years. Commercial districts around the developing Hakata Station area experienced gains of over 22%. As for residential land, prices in every district of Fukuoka City rose on the back of its growing population. Meanwhile, both commercial and residential land prices fell in the prefectures of Saga Nagasaki, Oita, Miyazaki and Kagoshima, but the range of these declines was not as significant as in previous years. However, Kumamoto Prefecture suffered a considerable drop in prices in the wake of the April earthquakes. The highest priced piece of land in Kyushu was the Platz Tenjin building in Tenjin 2-chome (along Nishi-dori Ave.), jumping 18.3% year-on-year to ¥4.6 million per sq. meter Source: Sankei News, 9/21

kyushu-land-prices
Source: Fukuoka City Photo Gallery

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Published: Sep 26, 2016 / Last Updated: Sep 26, 2016

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