Land prices in Japan declined by an average of 4.9 percent in the year to Jan. 1, falling for the 10th consecutive year amid the nation's prolonged economic slump, the Land Ministry said in a report released Thursday.
The report on listed prices of land per square meter across Japan showed prices of residential land dropping an average 4.2 percent last year, almost unchanged from the 4.1 percent fall in 1999.
It also showed the average price of commercial land declined 7.5 percent from Jan. 1, 2000, down from the previous year's fall of 8 percent and marking the second consecutive annual slowdown in price falls.