Average Industrial Land Price

The Ministry of Land, Infrastructure, Transport and Tourism announced the average land price as of July 1, 2009. Industrial land prices .

From the MLIT's "Land Price Trends based on the 2009 Prefectural Land Price Survey":

*The national average dropped further by 4.2% from 1.3% in the previous survey.

*In the three largest metropolitan regions, the land priced decreased for the first time in three years from 2006, by an average 4.4%, from the 2.9% increase in the previous survey. Backed by the demand for logistics facilities in the Tokyo waterfront areas and improved traffic conevience due to the opening of the Ken-o Expressway, there were areas in which land prices showed increase until the previous survey, but due to production adjustments and reduction of capital investment in manufacturing industries such as the automobile industry and changes in investment and financing environments, the prices dropped.

*In non-metropolitan regions, land prices continued to drop by an average 4.1% from 2.2% in the previous survey. The only increase was seen in Shichinohecho in Aomori, due to the commencement of the partial use of a bypass and the scheduled opening of the new station for the Tohoku Shinkansen.

Besides the three metropolitan regions, the price of industrial land is high in prefectures on the Pacific coast such as Kagoshima, Shizuoka and Wakayama. It seems that the demand for industrial land is higher on the Pacific coast which is convenient for importing resources and exporting products.