The average price of land in Japan as of Jan. 1 rose for the third consecutive year, returning to prepandemic levels on the back of the recovering economy and an increase in foreign visitors, government data showed Tuesday.

Land prices in all categories nationwide climbed 2.3% from a year earlier, compared with a 1.6% increase the previous year, according to the Ministry of Land, Infrastructure, Transport and Tourism.

Prices for residential-use land grew 2.0% on average, while commercial-use land prices rose by 3.1%.